Local firms seek to engage in global supply chains at Supplier Day event in Hanoi

PANO � The U.S. Agency for International Development (USAID), AmCham Hanoi and the Vietnam Chamber of Commerce and Industry (VCCI) on the morning of April 25 co-held a Supplier Day event at the JW Marriot Hotel in Hanoi.

This first-ever event in Hanoi aimed to help facilitate supplier-buyer relationships between Vietnamese small and medium enterprises (SMEs) and foreign firms to integrate SMEs into global supply chains.

The event was participated by more than local 60 manufacturers and suppliers to showcase their products and services in various industries, such as electronics, garment-textile, footwear, interior design, furniture, automobile spare parts, agriculture, food processing, logistics, healthcare and tourism.

Meanwhile, major U.S. companies like GE, Hanesbrands, Coca Cola, Polaris, 3M and Gentherm were seen at the event.

Speaking at the opening ceremony, U.S. Ambassador to Vietnam Daniel J. Kritenbrink highlighted the event as a good opportunity for both small and big enterprises to promote connections as well as for local and international enterprises to set up demand-supply relations, helping local small- and medium- sized enterprises engage deeper in global supplies chains.

Regarding trade and economic relations between Vietnam and the U.S., Head of the Trade Promotion Department under the Vietnamese Ministry of Trade and Industry Vu Ba Phu said, the U.S. has been Vietnam's largest export market, and that the two-way trade turnover has increased year on year.

Although Vietnam is seen as an attractive destination for foreign investment and has signed a large number of free trade agreements with both bilateral and multilateral partners, few local enterprises have taken these advantages and successfully engaged in global supply or/and value chains, said Phu.

Phu vowed that the Vietnamese Ministry of Trade and Industry will continue creating favorable conditions for local businesses to enter global production and distribution networks.

He also hoped that ArmCham and USAID would provide more support for local enterprises and effectively implement the Linked SMEs project so that more Vietnamese enterprises could participate in global supply and value chains.

Source: People's Army Newspaper