The Ministry of Planning and Investment together with the US Agency for International Development (USAID) co-organised a conference in Hanoi on July 24 to assist enterprises in developing sustainable supply chains for better growth of the business community and the economy.

Participants discussed a range of matters at the conference, which was part of the USAID Linkages for Small and Medium Enterprises Project (LinkSME), including the challenges and opportunities in supply chains; value chains for Vietnamese small and medium-sized enterprises (SMEs); and encouraging SMEs to engage in value chains.

They also delved into expectations and the needs of companies that sit at the beginning of chains, while exchanging opinions on how to help businesses quickly respond to unexpected changes in supply chains.

Addressing the conference, Vietnamese Minister of Planning and Investment Nguyen Chi Dung said that despite Vietnam’s achievements in FDI attraction and private sector development, there remains a lack of links in the business community, particularly between SMEs and companies of larger scale as well as between Vietnamese and foreign enterprises.

The participation of Vietnamese firms in global value chains is still modest, he said, recommending they seek new opportunities amid the changes taking place in supply chains and to reach overseas markets and access advanced technologies.

Competent public agencies and sectors should act quickly to support enterprises in seizing opportunities and developing sustainable value chains, he stressed.

Director of the USAID Office in Vietnam, Michael Greene, said the US has worked with Vietnam to help its private sector recover from COVID-19 and for SMEs adapt to shifts toward sustainability in global supply chains.

In the near future, he added, the LinkSME project will implement plans to support enterprises in digital transition, competitiveness improvements, and engaging more deeply in global production networks and value chains.