Many Vietnamese businesses unaware of EU supply chain due diligence regulations
Vietnam is currently an important link in many global supply chains, especially in textiles, footwear, electronics, agricultural products, and seafood.
Few enterprises in supporting industry part of global supply chains
Only some 30 per cent of enterprises in Vietnam’s supporting industry have joined global supply chains and value chains, according to the Ministry of Industry and Trade. This shows that the link between local and foreign enterprises is yet to be fully developed.
US and EU businesses seeking Vietnamese suppliers
A survey by QIMA Quality Control Services shows that 38 per cent of US businesses and 28 per cent of European businesses said they plan to find new suppliers in Vietnam. This represents a golden opportunity for local enterprises to boost investment and broadly and deeply take part in global supply chains.
Production to slowly return
Big brands are suffering from the severe impact of Covid-19 in Vietnam. Global financial services firm BTIG has predicted that production activities in the country will return to 50 per cent of capacity by the end of this year and 100 per cent in 2022.