Local suppliers miss out on expansions

Local suppliers miss out on expansions

Vietnam continues to attract foreign enterprises, especially in the manufacturing sector. However, the country’s localisation rate remains low, rendering companies dependent on imports and leaving little room for domestically-created profits.
MNC blocks being built

MNC blocks being built

Some 20 per cent of local suppliers have been found to be competitive in meeting foreign-invested and multinational corporation supplier requirements, and set the example for other companies to strive to meet the threshold of the elite list of suppliers.
Local car maker increases localisation rate

Local car maker increases localisation rate 1

Local car maker Truong Hai Automobile company (Thaco) has increased the proportion of components it sources from local suppliers in order to reduce sale prices and improve competitiveness, as tariffs on cars have fallen to zero throughout the ASEAN region.