Vietnamese enterprises’ knowledge about circular business is limited, with only 20 – 30 per cent clear and 3 – 6 per cent very clear, according to CIEM’s survey.
Vietnam has a rather similar export manufacturing capacity with China and this is helping the nation take over some of China’s key export items to the US as the US-China trade war is escalating, according to Fiingroup.
Vietnam Trade Promotion Agency under the Ministry of Industry and Trade announced the cooperation with Amazon Global Selling to help Vietnamese enterprises, especially small and medium sized ones, promote exports through e-commerce.
Lack of management capacity from broad strategies to specific plans is the main factor that has hindered Vietnamese enterprises in joining the global supply chain, according to international experts.
The issue of weak technology transfer amongst Vietnamese enterprises has again been raised at the forum “Interconnecting Model to Promote and Develop The Market of Science & Technology in Vietnam” recently held by Ministry of Science and Technology in cooperation with Vietnam Chamber of Commerce and Industry.
CEO of SEVIT TECH, a high-tech industrial diagnosis equipment manufacturer, Thomas Choi said that Korean and Vietnamese enterprises have a lot of things in common, especially the spirit.
In addition to their attempts, Vietnamese enterprises need support from agricultural extension centers and export support centers in providing market and legal information as well as packaging design guidelines, said Nguyen Thai Dung.
According to CIEM President Ph.D. Nguyen Dinh Cung, insufficient information and manpower is the major difficulty of Vietnamese enterprises in the process of international economic integration, especially in preparation for the implementation of free trade agreements (FTAs).
Experts say Vietnamese enterprises must apply technology to join the global digital economy or else they will lag behind or even go bankrupt.
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Working with professional Japanese investors is a desire of many Vietnamese enterprises. However, General Director of JSC Saigon Perspective (SAVISTA), a company having eight years of experience in the field of real estate management, once decided to refuse an offer of co-operation of a Japanese corporation.
The amount of interest and fees that Vietnamese businesses have to pay in this year is about US$1.56 billion.
Although many policymakers and economists have offered solutions to oppose against the “storm” of M&A acquisitions, many companies are struggling even in the home market. Domestic brands use a variety of solutions, such as changing business strategies, making long-term competition in the market, etc., but the majorities acknowledge that branding is difficult while protection and development of local brands is becoming more difficult, nearly alone in the fight against the “storm” of M & A.
Both Vietjet and VNG have said they want to be the first Vietnamese enterprises to list shares on foreign bourses. Other firms have tried to do so in the past.
