The event was co-organised by the US-ASEAN Business Council (USABC), the US Agency for International Development (USAID), and the Vietnam Chamber of Commerce and Industry (VCCI).
Nguyen Phuong Dong, HCM City Department for Industry and Trade, Deputy Director highlighted a number of shortcomings that prevent local firms from taking part in the global supply chain.
Most Vietnamese businesses still find it difficult to enter the world market due to their weak competitiveness, poor knowledge about labour management and distribution, and lack of long-term plans and competition strategy, he said.
Dong revealed approximately 300 domestic enterprises are capable of joining the chain but they only provide replacement parts not involving in the production of key products.
They are currently investing in material area development, upgrading facilities, and applying modern technology, as well as seeking trade partners, especially those from foreign countries.
However, he said, most of them are small and medium sized businesses with limited investment capital, making it difficult to participate in the global supply chain.
Speakers from the USABC also provided information on import trends in several huge markets - Japan, China and the US and pointed out advantages and challenges for Vietnamese exporters.
They also shared experience in helping Vietnamese businesses increase operational efficiency and utilize their advantages to expand export markets and engage in the chain.
More than ten outstanding businesses were selected to become involved in the mentoring program with other firms from ASEAN and the US, with a view to building a strong community of small-and-medium-sized enterprises.
