“Domestic and foreign businesses have actively found ways for business cooperation but have not yet achieved the expected results. We are badly in need of a national industry support portal for key sectors to regularly update relevant information, and connect with the database of domestic supporting industry businesses as well as keeping track of the needs of domestic and foreign customers, etc” said Mr. Bui Manh Hai.

The supporting industry database system is an important milestone in addressing the need of establishing a domestic B2B network to connect with foreign countries. In addition, the system helps businesses and investors find information quickly and accurately, enhancing investment connection, increasing cooperation opportunities among Vietnamese enterprises, FDI and multinational corporations.

According to the Ministry of Industry and Trade, the manufacturing industry is considered as the backbone of the economy, the basis and driving force of the entire Vietnamese industry. Therefore, the central task is to set up and complete the statistical system, the database of manufacturing industry with a priority for development and supporting industries, promoting the connection between Vietnamese suppliers and multinational corporations, meanwhile strengthening the efficiency of state management, developing policies on supporting industries as well as improving the quality of statistical work, ensuring timely and accurate information.

An Phat Holdings, with several subsidiaries, operating its business strongly in the supporting industry, currently owning 5 member companies serving the plan to penetrate into global supply chains, including, Hanoi Plastics, VAPA and Viexim specialize in supplying plastic automotive and motorcycle components; An Trung Industries provides electrical and electronic plastic components; and VMC produces manufacturing molds.

This event is of great significance for An Phat Holdings in particular and Vietnamese enterprises in general, which is a vital milestone when the COVID-19 outbreak has been hugely affecting the global value chains. In this context, the stability of supply and the capacity of domestic suppliers become highly important. The event is a great opportunity for Vietnamese enterprises like An Phat Holdings to fulfill its strategies and objectives in the coming time.