Japanese firms seek Vietnamese suppliers

Japanese firms seek Vietnamese suppliers

An employee checks motorbike brakes at the Vĩnh Phúc-based Nissin Việt Nam. Japanese companies want to cooperate with Vietnamese businesses to increase the ratio of material supplied by Vietnamese firms. – VNA/VNS Photo Danh Lam

HCM CITY (VNS) —The HCM City Export Processing and Industrial Zones Authority (HEPZA) and the Japan External Trade Organization (JETRO) organised a business-matching session on Thursday to connect Japanese firms and Vietnamese suppliers.

The meeting explored cooperation of companies operating in supporting industries.

About  一 二0 Vietnamese companies,  六0 Japanese enterprises operating in Việt Nam, and  二 三 Japanese firms looking for suppliers participated.

Japanese companies want to cooperate with Vietnamese firms to increase the ratio of materials supplied by Vietnamese firms. Success could help Japanese companies reduce production costs.

The local content ratio of products made by Japanese manufacturers in Việt Nam last year was  三 二. 一 per cent. This is more than the  二 六. 二 per cent in the Philippines, but less than the  六 五 per cent in China,  五 六 per cent in Thailand, and  四 一 per cent in Indonesia, according to JETRO.

Trần Lê Diễm Châu, deputy chief of HEPZA’s investment office, said that  一 七 export processing and industrial zones in the city attracted  一, 三 八 七 projects, with total registered capital of around US$ 九 billion. Of those projects,  五 五 九 are foreign investment projects with total investment capital of around $ 五. 四 billion.

According to Nguyễn Tuấn, vice director of the Investment and Trade Promotion Centre, the development of supporting industries is essential for economic development.

The Ministry of Industry and Trade has an approved support industry master plan, which includes goals through the year  二0 三0. Việt Nam will focus on: metal parts and components, plastic-rubber, electrical-electronics, textile-footwear, and high technology to support the industrial sector. —VNS