Businesses face hurdles to enter global supply chain

Addressing the seminar, Deputy Minister of Industry and Trade Do Thang Hai underscored the importance of the supply chain, adding that the government has assigned relevant ministries including the MoIT to devise policies to support businesses in developing a sustainable supply chain.

Mr. Hai emphasized that the event provided insights into the real situation of Vietnam’s participation in the global supply chain at a time when the government is determined to build a constructive system of integrity and action.

At the seminar, experts exchanged information on the mechanisms of support available for Vietnamese businesses to participate in the global supply chain during the integration period, on the experience of successful businesses in expanding markets, and on the Law on Support for Small and Medium-Sized Enterprises.

Experts said Vietnam has more than 90% of SMEs, which have encountered difficulties in terms of capital, technologies, lack of management skills and connectivity. These are the major hindrances for businesses when joining the supply chain and integrating the world economy.