Opening of the Product Exhibition connecting supporting businesses and foreign invested businesses

– On the morning of September 29, at the Vietnam - Czech Republic Friendship Labor Cultural Palace, the Hai Phong Economic Zone Management Board held the opening of a product exhibition connecting supporting businesses and foreign investment (FDI) businesses.

In attendance were comrades: Le Tien Chau, Member of the Party Central Committee, Secretary of the City Party Committee; Nguyen Van Tung, Chairman of the City People's Committee; Nguyen Duc Tho, Vice Chairman of the City People's Committee; Le Trung Kien, Head of Hai Phong Economic Zone Management Board; Le Tri Vu, Head of the City Party Committee's Mass Mobilization Committee and leaders of relevant departments, branches and units.

Delegates attending the opening of the Exhibition.

Participating in the exhibition are more than 200 FDI enterprises and more than 100 domestic enterprises, organizations, and universities. It is expected that 7 memorandums of cooperation will be signed. Through this Exhibition, participants will have the opportunity to learn about the production and supply capacity of domestic enterprises as well as opportunities to cooperate and provide products to FDI enterprises; At the same time, it also grasps the needs and requirements of FDI enterprises as well as the requirements for recruitment and labor training to serve the needs of FDI enterprises.

Delegates attending the opening of the Exhibition.

Speaking at the opening of the Exhibition, Mr. Le Trung Kien, Head of Hai Phong Economic Zone Management Board, said that industrial parks and economic zones in the city have the presence of more than 400 FDI enterprises with a total registered capital of 25.72 billion USD and more than 200 domestic enterprises with a total registered capital of 13.28 billion USD. Total FDI capital in the first 9 months of 2023 also reached over 3 billion USD, exceeding the target for the whole year 2023 (2.5 billion USD).

However, although the investment attraction results are always at the top of the country, in the context that the Government has had important policies to promote the development of supporting industries, the connection between FDI enterprises and domestic supporting industry enterprises in Hai Phong is still quite fragmented, not forming a symbiotic and mutual relationship to build sustainable production. The localization rate in products of FDI enterprises is still low; There are still many limitations in technology transfer; while domestic enterprises have not participated much in the global value chain.

City leaders and businesses pressed the button to open the Exhibition.

The Head of Hai Phong Economic Zone Management Board stated clearly, implementing the direction of the Standing Committee of the City Party Committee at the Business Dialogue Conference in 2023, with the goal of accompanying and working side by side with businesses, providing real and effective support to connect technology transfer, participate in the supply chain, produce supporting products for FDI enterprises, and create development cooperation links between domestic and foreign enterprises. Hai Phong Economic Zone Management Board organizes a product exhibition program connecting supporting businesses and foreign invested businesses in Hai Phong city to connect and create market opportunities for businesses and organizations to share, search and link to jointly develop and expand production and business.

City leaders visit the Exhibition area.

The Head of Hai Phong Economic Zone Management Board expressed hope that, after the Exhibition, businesses can reach some initial agreements to continue discussing in more detail on cooperation in supplying raw materials, materials, equipment, labor and related services to serve the production of FDI enterprises. From there, improving the city's industrial production capacity, bringing domestic enterprises in particular and the city in general to participate more deeply in the global value chain. At the same time, improve competitiveness and contribute to the overall socio-economic development of the city.