Which key helps businesses deeply participate in the global supply chain

Mr. Choi Joo Ho, General Director of Samsung Vietnam spoke at the forum

According to Mr. Do Thang Hai, Deputy Minister of Industry and Trade, facing the challenges of climate change and the requirements of consumers worldwide, especially in markets of developed countries, sustainable development, efficient resource use and responsible inspection are becoming inevitable trends of the global industry.

In addition to the need to produce faster, lower costs, and better quality, today’s production must also be more responsible for the environment and people.

“This poses many challenges for industrial products manufactured in Vietnam, which are mainly processed, value-added, low in science and technology, and are not yet accessible to digital transformation towards smart production,” Mr. Hai said at the Multilateral Forum (MSF) 2022 with the theme “Improving Vietnam’s position in the global value chain: Multilateral cooperation in capacity building and responsible for tracing” jointly organized by the Ministry of Industry and Trade, the Vietnam Trade and Industry Confederation, the Vietnam General Confederation of Labor and Samsung Vietnam on the afternoon of October 19.

Mr. Phan Van Anh, Vice Chairman of the Vietnam General Confederation of Labor, said that deeper participation in the global supply chain brings many opportunities but also poses many challenges for both businesses and employees and the organization of trade unions in Vietnam.

Forum overview

In particular, ensuring the rights of workers in accordance with the provisions of the law, responsible business requirements, and sustainable development is one of the very important contents and needs special attention.

In order to gradually meet the standards of countries with advanced and developed industries in the world, Mr. Do Thang Hai said that businesses need to focus on transforming production models, improving productivity and quality in industrial production towards sustainable development of the circular economy; reducing energy consumption and emissions.

Meanwhile, Mr. Bui Trung Nghia, Vice President of the Vietnam Federation of Trade and Industry, said: “In order to strengthen the position of Vietnamese enterprises when participating in the global value chain, Vietnam needs to continue to advance economic reform through a long-term, closely coordinated multi-stakeholder strategy.”

From a business perspective, Mr. Choi Joo Ho, General Director of Samsung Vietnam, said: Vietnam has a number of advantages including efforts in attracting foreign investment and consistency in the Government’s economic development policies, along with a dynamic economy, the consumption market is expanding.

“What is needed in further developing these advantages is to expand participation in the global supply chain by promoting the supporting industry in Vietnam. Samsung Vietnam will continuously make efforts to increase cooperation for the development and prosperity of the community,” said Mr. Choi Joo Ho.

Paying a lot of attention to the aspects of the implementation of workers’ rights, Mr. Phan Van Anh said: “Vietnam’s Trade Union always makes efforts and is ready to cooperate with all stakeholders to discuss and identify issues that need improvement, propose effective and appropriate solutions to ensure the best implementation of workers’ rights in the global supply chain in Vietnam, based on the investigation of workers’ rights.”