Big opportunities

The Industry Agency under the Vietnamese Ministry of Industry and Trade (MoIT) has collaborated with multinational corporations of the RoK to implement various training programs and provide consultancy on manufacturing technology innovation, helping domestic supporting industry enterprises improve productivity to be eligible for deep participation in global supply and value chains.

According to the Industry Agency, the MoIT has collaborated with the RoK’s Ministry of Trade, Industry and Energy, and the two sides have agreed to promote cooperation in shipbuilding, materials and components, textiles and garments, automotive industry, and other sectors.

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Notably, the Industry Agency and Samsung Vietnam have carried out many cooperation programs and projects in the field of supporting industries. In 2023, the two sides cooperated to train molding workers, provide consultancy for enterprises’ improvements, seek potential new suppliers, and develop smart factories.

Choi Joo Ho, General Director of Samsung Vietnam, said that he was glad and proud to witness significant improvements of enterprises after participating in the project to support smart factory development. These changes are the foundation for enterprises to enhance their competitiveness according to global standards across all processes, such as research and production, creating opportunities for them to participate in Samsung’s supply chain and the global supply network.

Boosting cooperation

In the global production chain, RoK conglomerates and enterprises possess experience, technology and know-how to manufacture high-tech products, especially semiconductors - a critical component of technological products. Meanwhile, Vietnam spends hundreds of billions of US dollars on annual imports of parts and components to manufacture and assemble final products in industries, such as automobile, electronics, aviation, marine economy, agriculture, and healthcare.

The Industry Agency said that in the time to come, the MoIT will seek consultancy from the Korea Institute for Industrial Economics and Trade (KIET) to draft the Key Industrial Law. The ministry has proposed the organization of training courses on the RoK’s industrial development experience.

Specifically, the MoIT has proposed that the RoK transfer technology and support Vietnamese enterprises in manufacturing products with high technological contents and added value through mergers and acquisitions or joint ventures. The ministry has also proposed cooperation in human resource training in the fields of welding, casting, molding, plastic injection, heat treatment, and surface treatment, as well as new technologies, such as chip manufacturing, semiconductors, automation, and smart factories.