At least 29 Vietnamese businesses have joined global supply chains, according to the HCM City Centre of Supporting Industry Development.

Local businesses’ improved production quality has helped them gain contracts to become suppliers to major companies. — Photo www.sggp.org.vn

Bac Viet Technology Joint-Stock Company, for example, has become a supplier of plastic electronic components and precision samples for Samsung Electronic Viet Nam and Samsung Electronics Viet Nam Thai Nguyen.

The company has reduced its inventory ratio from 37 per cent to 24 per cent and has successfully built a system for recognising and repairing mistakes on the goods that it manufactures. After making improvements, the percentage of errors fell by 63 per cent. Shim Won Hwan, director of Samsung Electronic Viet Nam, said that Samsung expected to have 50 suppliers from Viet Nam by 2020.

Samsung has been working with the Ministry of Industry and Trade on a business innovation programme that trains Vietnamese professionals who will offer training to local companies.

HCM City’s Department of Industry and Trade has selected businesses that show high potential to take part in the business innovation programme. — VNS