Deputy PM: Vietnam wants to develop supply chain

Wednesday, 2020-06-24 09:44:51
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Permanent Deputy Prime Minister Truong Hoa Binh (R) and TTI Executive Vice President Nate Easter (Photo: VGP)
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NDO/VNA – Permanent Deputy Prime Minister Truong Hoa Binh hosted a reception in Hanoi on June 23 for Executive Vice President of Techtronic Industries (TTI) Nate Easter.

TTI is one of the leading suppliers of electronic equipment and household appliances with 12 plants worldwide. Up to 76% of its products are supplied to the US and Northern Europe.

Binh affirmed that the Vietnamese Government always offers all possible support to foreign firms investing in Vietnam and pays attention to dealing with their difficulties.

He pledged to assign the Chairman of the Ho Chi Minh City People’s Committee to address problems regarding TTI's projects at the Saigon Hi-Tech Park, and the Ministry of Investment and Planning to work with the municipal Customs Department to handle customs clearance for TTI’s goods via green channel.

According to the Deputy PM, many universities in HCM City could supply qualified workforce for TTI’s project while the Government also advocated welcoming foreign technical and managerial experts to Vietnam for work.

Highlighting Vietnam’s policy of partnering with countries in the development of supply chain and support industry, Binh hoped that TTI, one of the leaders in the global supply chain, will assist the Vietnamese ministries, agencies and localities in investment promotion as well as help Vietnamese firms to join its chain.

The Government will continue devising suitable policies, especially for small and medium-sized enterprises, he said, wishing that TTI would transfer technology to Vietnamese enterprises.

Easter, for his part, said TTI is working to launch the largest research and development (R&D) centre in Vietnam, as well as investing more US$650 million in wireless electrical equipment plants at the Saigon Hi-Tech Park, which will be completed in the third quarter next year.

Its R&D centre is expected to draw about 2,000 engineers and experts in information technology, manufacturing and processing. TTI also sent staff to universities to seek employees, he said.

About its long-term plan, he said TTI wants to partner with Vietnam in the development of industry and high technology, including domestic supply chains. It hopes that about 180-200 Vietnamese firms will become suppliers for TTI with the rate of domestically-made items amounting to 60% this year and 80% next year.

To such end, the guest wished that the Government would approve TTI’s projects at the Saigon Hi-Tech Park, allow its highly-skilled engineers to enter Vietnam to develop advanced products, as well as offer incentives on finance, land and infrastructure.