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Vietnam Today

US companies supporting local SMEs

Released at: 15:17, 22/11/2018

US companies supporting local SMEs

Photo: The US Embassy

US-ASEAN Business Council holds workshop in northern Hai Phong city.

by My Van

US Ambassador to Vietnam, H.E. Daniel J. Kritenbrink, asserted that US enterprises will support small and medium-sized enterprises (SMEs) in Vietnam, at the US-ASEAN Business Council’s (USABC) workshop in northern Hai Phong city on “Elevating Small and Medium Businesses in Industrial Revolution 4.0 and Inclusive Global Value Chains”.

Ambassador Kritenbrink, along with Mr. Le Khac Nam, Deputy Chairman of the Hai Phong City People’s Committee, Mr. Mai Xuan Thanh, Deputy Director General of Vietnam Customs, and Mr. Vu Viet Ngoan, Chairman of the Prime Minister’s Economic Advisory Team, highlighted the cooperation between US companies and Vietnamese SMEs. The workshop focused on the role of the digital economy, trade facilitation, and partnership opportunities with US corporations for 200 SME owners.

“I am so pleased to see representatives of world-class US companies here - Microsoft, Cisco, FedEx, Coca-Cola, and Visa,” Ambassador Kritenbrink said. “These great companies are also promoting the integration of Vietnam’s leading SMEs into the global supply chain. And they are leveraging Industrial Revolution 4.0 technologies to help your companies succeed. Like my government, they too are invested in Vietnam’s success.”

The US is committed to working with Vietnam to help Vietnamese SMEs adapt to the modern global economy. USAID recently awarded the new five-year, $22 million Linkages for Small and Medium Enterprises (LinkSME) project to International Executive Service Corps.

LinkSME aims to improve and expand the supplier-buyer relationships between Vietnamese and foreign firms. The project will raise productivity and increase Vietnam’s capacity to supply products to larger companies both inside and outside of Vietnam. Foreign firms will reap efficiency benefits from increased local sourcing. LinkSME will also help Vietnamese entrepreneurs up and down the value chain pursue new opportunities and provide new jobs for their communities.

The Ambassador and the USABC delegation visited General Electric (GE)’s “Brilliant” factory in Hai Phong, one of its most advanced manufacturing facilities, where they learned about GE’s long-term partnerships with local Vietnamese suppliers. GE supports its Vietnamese partners through sharing how to improve their management capabilities and use advanced technology. Twenty per cent of GE’s manufacturing inputs are sourced from local Vietnamese suppliers and it hopes to raise the figure even higher.

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