Enhancing national competitiveness and capacity of domestic enterprises is vital for Vietnam to climb up the global value chain in the new context of globalisation, heard a workshop held by the Vietnam Institute for Economic and Policy Research (VEPR) in Hanoi on December 5.
VOV.VN - Through local partner factories, 'Made in Vietnam' products have been distributed to more than 2,400 stores around the world, thereby demonstrating the country’s crucial role in Uniqlo’s global value chain, said Nishida Hideki, general director of Uniqlo Vietnam.
The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain.
The historic Vietnam visit by US President Joe Biden and the upgrade of bilateral relationship to a comprehensive strategic partnership will create unprecedented opportunities to promote new and breakthrough cooperation areas, and to build Vietnam’s capacity to truly join the global value chains, said Minister of Industry and Trade Nguyen Hong Dien.
The Ministry of Planning and Investment (MPI) has proposed the government provide further support for Vietnamese small- and medium-sized enterprises (SMEs), including an interest rate reduction of another 2 percentage points per year.
The strong foreign direct investment (FDI) inflow from the Republic of Korea (RoK) has been giving a significant push to Vietnam in the battle to move up the global value chain ladder and promote sustainable development.
Soaring inflation, rising production costs and fluctuation in exchange rates have caused great difficulties for production and import-export activities, and will linger on to the rest of the year.
VOV.VN - The World Bank (WB) has raised its GDP growth forecast for Vietnam this year to 7.2% from 5.3% in April, while the overall rate of the East Asia and Pacific region is projected at 3.2%.
Denmark’s Copenhagen Business School on September 22 hosted a workshop to discuss ways to build capacity for Vietnamese enterprises, help them climb up global value chains and boost Vietnam-Denmark cooperation in realising Sustainable Development Goals (SDGs).
Vietnam’s total import-export value topped US$403 billion as of July 15, with a trade deficit of around US$1 billion.