Vietnam is currently Nike’s most important production and export base, with up to 50% of its products sold globally made in the country, according to Chris Helzer, Nike’s vice president.
Deputy Prime Minister Vuong Dinh Hue (l) and Chris Helzer, Nike’s vice president (r). Source: VGP.
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Helzer highly regarded the quality of Vietnam’s labor force, which has contributed to the success of Nike as one of the world’s largest sporstwear and accessories companies.
At the meeting, Deputy PM Hue said Nike has been instrumental for Vietnam’s high growth in exports and economic development, while supporting the country’s social welfare and training human resources.
According to Hue, Vietnam is in the process of transpositioning its commitments to the Comprehensive and Progressive Trans – Pacific Partnership (CPTPP), including the revision of laws on Insurance Business and Intellectual Property.
Meanwhile, the Labor Code is being reviewed to harmonize with Vietnam’s international commitments in CPTPP, Hue stated.
Vietnam is expected to announce its new strategy for foreign direct investment attraction, focusing on projects using modern technologies and environmentally-friendly, at the same time encouraging multinational companies establishing innovation centers in Vietnam, Hue continued.
Hue requested Nike to promote the application of advanced technologies in production for higher added value and facilitate greater trade relations between Vietnam and the European Union, and between Vietnam and the US, ensuring balanced trade of Vietnam with all partners.
