Vietnam works to boost international integration of part suppliers
Vietnam has worked to raise the number of local part suppliers in the global supply chains, aiming to have about 1,000 enterprises capable of supplying directly to assembly enterprises and multinational corporations by 2025.
Hanoi (VNA) – Vietnam has worked to raise the number oflocal part suppliers in the global supply chains, aiming to have about 1,000enterprises capable of supplying directly to assembly enterprises andmultinational corporations by 2025.
Statistics from the Ministry of Industry and Trade show thatVietnam now has close to 2,000 part suppliers. However, only 300 firms are inthe supply chains of multinational groups.
To develop the industry, the Government has to date issuedseveral documents to create a favourable legal framework, including Decree 111in 2015 on the development of support industry, and the Prime Minister’sDecision 68 dated January 18 in 2017 that approved a development programme forthe sector during 2016 – 2025.
Most recently, in 2020, Prime Minister Nguyen Xuan Phucsigned Resolution 115 on measures to further propel the industry, setting outdevelopment goals for the next decade.
According to the resolution, Vietnamese enterprises will beable to produce highly competitive supporting industrial products, meeting 45percent of the essential needs for domestic production and consumption,accounting for about 11 percent of the industrial production value by2025.
About 1,000 enterprises are expected to be capable ofsupplying directly to assembly enterprises and multinational corporations, ofwhich domestic enterprises account for about 30 percent by 2025.
By 2030, supporting industrial products will meet 70 percentof the demand; accounting for about 14 percent of the industrial productionvalue. About 2,000 firms will be capable of supplying directly to assemblersand multinational corporations in the territory of the country by 2030./.
The first International Expo on Support Industries and Processing - Manufacturing (VIMEXPO 2020) is scheduled to take place from December 9-11 at Hanoi’s International Centre for Exhibition (ICE) on Tran Hung Dao Street.
The Vietnam Support Industry Show 2020 and the METALEX Vietnam 2020 was held online from October 23-24 to connect Vietnamese and Japanese firms in the support industry in the new normal situation.
Vietnam has taken measures to improve the capacity of its supporting industries to make domestic enterprises effectively participate in global value chains.
The Sai Gon Hi-tech Park and industrial parks and economic zones in the southern provinces of Long An, Binh Duong, Dong Nai and Ba Ria-Vung Tau will work together to develop supporting industries under an agreement clinched on October 28.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
Illustrative photo (Source: VNA) 
