Enhanced delivery vital to scale global value chain

Forward thinking: Workers on the assembly line of a car factory in Hai Phong. Vietnam companies can benefit hugely by strengthening their capacity to embrace innovation, promote research and development and financial capacity, says an analyst. — AP

HANOI: Enhancing the national competitiveness and capacity of domestic companies is vital for Vietnam to climb up the global value chain in the new context of globalisation, according to a workshop by the Vietnam Institute for Economic and Policy Research (VEPR).

“The abundant foreign direct investment (FDI) has given Vietnam a new image on the global trade map but it has not been able to pull the economy to a higher value ladder,” VEPR vice-president Nguyen Quoc Viet said at the workshop themed “Facilitating Vietnam’s Integration into the Global Value Chain through Enhanced FDI Linkages”.