- President receives Japanese Minister of Justice
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An online conference took place from July 5 - 6 to connect Vietnamese and Japanese businesses in the support industries, aiming to help domestic firms seek partners and boost exports.
The event, held by the Vietnam Trade Promotion Agency (Vietrade), Vietnam’s Trade Office in Japan, and the ASEAN - Japan Centre, aims to help Vietnamese businesses in the support industries to access new trends in the market, advanced technologies, and potential partners from Japan in order to develop more professionally.
It will assist enterprises in Vietnam to maintain connectivity with the Japanese side and explore export opportunities, according to Vietrade.
At the event, Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (Vietrade) at the Ministry of Industry and Trade, briefed the conference on Vietnam’s foreign trade activities.
Statistics show that over the past years, Vietnamese companies have developed in terms of both quantity and quality. They have improved production capacity and are increasingly engaged in global production chains.
The number of those firms currently accounts for nearly 4.5% of total companies in the processing - manufacturing industry. Notably, their production and business revenue stands at over 900 trillion VND (38.7 billion USD), contributing almost 11 percent to the industry’s total revenue.
The country also has some highly capable manufacturers in producing moulds; bicycle and motorcycle components; mechanical, plastic, and rubber components; electricity cables, and tyres, which have not only met domestic demand but have also been exported to many countries, including Japan.
However, Vietrade noted, many businesses in support industries still have modest capacity, lack skilled manpower, and face shortages of capital as well as information about foreign suppliers of high-quality and cheap materials.
