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Minh Man Printing Co., Ltd. provides a diverse range of industrial support products within the global supply chain of Korean enterprises. |
Accordingly, Vietnamese companies provide a wide array of industrial support products, encompassing fibers, textiles, sewing threads, buttons, zippers, computer and phone batteries, electrical cables, LED lights, headphones, screens, speakers, windshield wipers, automotive seats, windshields, brakes, steering wheels, batteries, motors, and a variety of plastic components.
Mr. Choi Bundo, Chairman of KOCHAM, emphasized that fostering the growth of the domestic supporting industry holds utmost importance, benefiting not just Vietnamese enterprises but also Korean businesses that have invested in Vietnam.
Among the 1,800 supporting industry enterprises in Vietnam, the involvement of merely around 300 enterprises in the production network of multinational corporations is seen as notably low.
This situation has created challenges for FDI enterprises in locating suitable partners for the procurement of necessary raw materials and components. Consequently, they are compelled to depend on imports from foreign nations.
According to Mr. Choi Bundo, Vietnam needs to leap from providing only basic raw materials to a higher level. Relevant authorities need to establish specific, effective, and practical strategies to boost investment in the development of the supporting industry to achieve this goal.
