Workers work in a garment factory in Thu Duc City, Ho Chi Minh City - Photo: QUANG DINH
Sharing with Tuoi Tre , Dr. Jonathan Pincus, director of the Fulbright School of Public Policy and Management (FSPPM), said that the long-term challenge for Vietnam is to increase the domestic content of manufactured exports. Data from the OECD also shows that more than half of the value of electronic exports is imported.
That means there are still limited linkages between FDI exporters and domestic companies. "Vietnam does not have many domestic companies with the technological and management capacity to integrate into the global supply chain," said Dr. Jonathan Pincus.
Dr. Vu Thanh Tu Anh, Fulbright University Vietnam, affirmed that Vietnam has become an important link in the global supply chain with an import-export/GDP ratio sometimes reaching nearly 200%, one of the economies with the highest trade openness in the world.
FDI has been a major contributor, with net FDI inflows accounting for 5.9% of GDP over the past decade, far exceeding the second-placed country in the region, Malaysia (3.4%). However, value addition and linkages with domestic enterprises are very low. This reflects a lack of linkages between FDI and domestic enterprises, limiting technological efficiency and productivity.
While still dependent on FDI, Vietnam must develop its internal strength through private enterprises, an effective State and a dynamic society, to minimize risks from global fluctuations and affirm its key role in the supply chain.
According to Professor Tran Van Tho, Vietnam's economy currently exists under a "two-tier" structure, with the FDI sector on one side and domestic enterprises on the other, with almost no close connection, as FDI enterprises find it difficult to find partners with both management capacity and sense of responsibility.
In reality, domestic small and medium enterprises face many barriers in terms of capital, land, procedures and especially technological and management capacity. Many small enterprises are not qualified to receive technology and face language barriers, so they cannot take advantage of international cooperation opportunities.
According to Professor Tho, Japanese SMEs are facing a shortage of successors and are in need of investment in Vietnam. However, Vietnam needs to create a more open mechanism to receive technology.
"There are many opportunities, the problem is whether we have enough strength and power to grasp them or not," said Professor Tho.
The question is: How can micro, small and medium enterprises find opportunities to form joint ventures with foreign small enterprises and access technology transfer?... To solve this problem, according to Mr. Tho, SMEs need to link together to grow together, creating a scale large enough to attract the attention of international partners.
"To grow, we must have team spirit and cooperate with businesses in the same or different industries. If we are too small, FDI enterprises do not know and do not dare to form joint ventures," said Professor Tho, adding that the State needs to actively support SMEs in accessing capital, helping them set up feasible projects, and being able to analyze technology and markets. Management agencies need to consider supporting SMEs to grow as a responsibility.
"With limited resources, SMEs cannot do all of these basic analyses on their own. The government should take charge, and businesses can research more about specific content for each industry," Professor Tho suggested.
Source: https://tuoitre.vn/phai-tang-lien-ket-giua-doanh-nghiep-viet-voi-doanh-nghiep-fdi-20250619080955815.htm
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