Chủ đề: supply chain

Speaking at the Vietnam - Japan cooperation seminar on technology innovation, digital transformation, and supply chain diversification on May 1, Japanese Prime Minister Kishida Fumio, who visited Vietnam from April 30 to May 1, said that Vietnam holds an increasingly important position in the global supply chain. Out of a total of 92 projects to diversify supply chains supported by Japan in ASEAN, Vietnam ranks first with 39 projects. He also emphasized that the possibility of cooperation between Vietnam and Japan is unlimited.

The International Finance Corporation (IFC) has helped Vietnamese banks improve their capacity to guarantee payment risks in trade finance for domestic enterprises. With the IFC’s support, banks have issued 974 guarantees to exporters and importers totaling $686 million during fiscal year 2021 and granted more than $400 million to domestic suppliers to maintain liquidity. The IFC’s total supply chain funding has increased 28 per cent, helping 31 garment and agricultural businesses stay afloat and securing more than 100,000 jobs.

The State Bank requires credit institutions to provide sufficient capital for traders, enterprises, and rice producers affected by Covid-19 to avoid disruption in the supply chain. Commercial banks are also required to restructure debt repayment terms while keeping debt groups unchanged, exempt or reduce interest and fees, and lend new loans to restore rice production and business.

Mr. Nguyen Duy Minh, General Secretary of the Vietnam Logistics Business Association, told the “Urgent & long-term solutions to prevent supply chain disruptions” seminar organized by VnEconomy that support is needed for logistics businesses and technology must be applied in goods distribution. It is also necessary to create a priority flow for international freight. Many localities with international border gates have been focusing recently on fighting the pandemic, and this has hindered domestic and international supply chains.

Covid-19 has caused the temporary shutdown of many industrial parks and factories, breaking supply chains and negatively affecting industry.