31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Aug 26, 2022 / 17:18

Boeing wants to build supply chain in Vietnam

The US company wishes to build Vietnamese enterprises into its suppliers.

Boeing, the US group, is looking for more supply chain manufacturers in Vietnam like Samsung and Intel have done to enter the Vietnamese market.

 An overview of the forum on August 25 in Hanoi. Photo: Boeing

Michael Nguyen, Country Director of Boeing Vietnam, informed at the Boeing Aerospace Industry Forum on August 25 in Hanoi.

The US company also plans to visit potential factories and have a team to support the development of suppliers in Vietnam.

Currently, the firm has seven suppliers in Vietnam which are constantly raising world-class quality and productivity standards as they become an important part of its global supply chain.

“However, producing a Boeing 747 aircraft requires more than six million spare parts, we need to look for sources from many parts of the world. If Vietnam has quality human resources, a reasonable investment environment and the attention of the Vietnamese Government, the country will be a very potential market,” he said.

At the event, the Country Director of Boeing Vietnam said that it is very interested in business development opportunities in Vietnam. “This is why we hold the event today, hoping it will be a drive to further promote our cooperation and business development in Vietnam,” he said.

Talking about prospects, Do Nhat Hoang, Director of the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), underlined: “Vietnam expects US firms to continue to strengthen investment cooperation and technology transfer to Vietnam in the fields of infrastructure, manufacturing and technical services in the aviation industry such as manufacturing components, aircraft maintenance, satellite manufacturing industry, telecommunications wave technology.” 

He added the Vietnamese government is committed to creating the most favorable conditions for US businesses, including Boeing, to feel secure to invest and do business effectively and successfully in Vietnam in the fields of aerospace, clean energy, renewable energy, sustainable infrastructure, high technology, highly efficient agriculture, finance and banking, high-quality tourism so that the country would become a hub in regional and global supply and value chains.

For him, it's a good sign that Boeing in particular, and US businesses, in general, believe in the development of Vietnam's aviation industry and look forward to a strong recovery in investment, trade and tourism cooperation between the two countries.

According to the US company, Southeast Asia is one of the fastest growing regions in the world in the aviation industry and Vietnam is the leading country in the development of the sector. 

According to experts, within the next 30 years, the Southeast Asian aviation market will probably need another 4,000 new aircraft and Vietnam will be one of the leading countries in meeting this demand.

On this occasion, Do Nhat Hoang suggested Boeing establish a training center for pilots, experts and engineers in the field of aerospace and aircraft manufacturing in Vietnam.

For its part, Boeing pledged to work with authorities, businesses and universities in the aerospace industry in Vietnam to build a foundation for long-term development.