Supporting industry giants favour Vietnamese market
In the last months of 2023, a lot of supporting industry giants have announced their strategies to penetrate the Vietnamese market, given the fact that the country has become a strategic destination in the global supply chain.
Vietnam has become a strategic destination in the global supply chain (Photo: VNA)
HCM City (VNA) - In the last months of 2023, a lot of supportingindustry giants have announced their strategies to penetrate the Vietnamesemarket, given the fact that the country has become a strategic destination in theglobal supply chain.
Most recently, DKSH, a leading MarketExpansion Services provider, announced a strategic partnership with ACROBiomedical Co., Ltd of China’s Taiwan, a pioneer in the production ofcutting-edge medical material for the application of tissue engineering andregenerative medicine.
Under the terms of this partnership, DKSHwill offer a comprehensive portfolio of services ranging from warehousing,distribution, logistics, to marketing and sales to ACRO’s products. Thiscollaboration leverages DKSH’s deep global experience and extensive marketnetwork in Vietnam to improve the accessibility of advanced medical materialsacross the country.
UK manufacturer and distributor of industrial components Essentra Componentsrecently said it will expand its distribution system in Vietnam to better servelocal customers.
Illustrative image (Photo: VNA)
The strategic move, the company said,aligns with the ongoing trend of global supply chain relocation, as majormultinational corporations increasingly select the nation as a preferreddestination for investment and production.
With more manufacturers moving into newterritories as they look to diversify and become less reliant on one area, theyneed partners that can move with them and continue to offer the same level ofservice they’re accustomed to, said Scott Fawcett, CEO of Essentra Components.
The company’s expansion into Vietnam is asolution to that very problem and will give its customers the reassurance thatservice can continue without interruption, whilst being provided the level ofservice and support they expect, he said.
The scale of Vietnam’s industrial componentmanufacturing industry is forecast to increase by 6.6% in 2023, contributing toattracting the shifting trend in the global supply chain to Vietnam. In fact,large corporations such as Apple and LEGO have now begun building major productionfacilities in Vietnam.
According to experts, as Vietnam is one ofthe fastest growing markets in Asia, it has become an attractive and unmissabledestination for global manufacturers and multinational corporations.Furthermore, when participating in the Vietnamese market, global manufacturersand multinational corporations are also able to open the door to reach potentialcustomers in the Asia-Pacific region./.
There remains ample room for Vietnamese and Japanese enterprises to foster cooperation in supporting industries that are increasingly developing and playing an important role in Vietnam's participation in the global supply chain as well as the global value chain, insiders have said.
As Vietnam is emerging as a magnet for foreign businesses, domestic companies now have numerous opportunities to join global supply chains and develop supporting industries.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Vietnam has become a strategic destination in the global supply chain (Photo: VNA) 
Illustrative image (Photo: VNA) 
