Domestic firms seek to improve competitiveness

According to a survey by the Vietnam Chamber of Commerce and Industry, around 46% of domestic private firms and 50% of foreign invested ones plan to expand their businesses in the near future. Several big companies have identified their strategies in this increasingly competitive market.

However, funding still remains a major obstacle for many enterprises in pursuing technology to improve product quality. Enterprises must identify their positions in the supply chain to make sound investment decisions, rather than pouring money into just anything.

As companies are try to improve their capacity to remain competitive in the regional and global markets, proper mechanisms and incentives are needed to create connections among domestic companies. Once companies can firmly hold their positions in the domestic supply chain, they will be able to perform in an integrated market.