Vietnamese and American businesses seek opportunities to cooperate in supplying goods
Boeing’s supply chain development director for Southeast Asia, Japan, and South Korea Maxime Dourdan revealed that Vietnam is currently the destination for many of the world's leading corporations. In addition to its attractive investment environment, Vietnamese enterprises’ capacity to provide products from supporting industries is increasingly improving; thus, the supply rate is increased. Vietnamese firms’ better capacity will help foreign investment corporations’ sustainable development so foreign businesses decided to pour more money in Vietnam.
However, Director Maxime Dourdan admitted the aviation industry with complex production technologies requires many factors and cannot immediately find suppliers. Therefore, the group has established a roadmap for finding Vietnamese suppliers and starting from level 3 and level 4 suppliers, and it will gradually improve the capacity of Vietnamese enterprises to levels 1 and 2 so that Vietnamese firms will be able to supply more important ancillary products.
Regarding this issue, Vice President of the Vietnam Association for Supporting Industries Truong Thi Chi Binh said that currently, some 25,000 Vietnamese businesses have been operating in the field of manufacturing supporting industry products. Vietnamese businesses have participated in providing components for the automobile, motorbike, and electronics industries for Honda, Toyota, THACO, Vinfast, Samsung, and Panasonic.
The aerospace industry in general and Boeing in particular are quite new in the Southeast Asian country. However, this is an opportunity for Vietnamese businesses to approach and adapt.
Vietnam has so far become the US’s eighth-largest trading partner. Deputy Minister of Industry and Trade Do Thang Hai said that in the first 8 months of 2023, the US is still Vietnam's largest export market with an estimated turnover of US$ 62.27 billion, a year-on-year decrease of 19.1 percent. With an average trade growth rate of over 20 percent a year, the US continues to be Vietnam's largest export market today and in the coming years.
By Minh Xuan – Translated By Anh Quan