Workers are sewing car seat covers for export. — Photo courtesy of THACO The Government has in recent years issued policies to promote the development of supporting industries, which are key to raising the value of other industries. However, supporting industries remain limited in their capabilities, their output is low and their products do not meet quality standards required by multinational companies. Viet Nam’s supporting industries need pioneering enterprises to play a leading role in spurring development so that the former can play a role befitting their potential. THACO AUTO belonging to THACO Group is one of the bright spots in developing supporting industries. Over nearly 20 years it has created a positive transformation, both for itself and supporting industries, increasing domestic production value and the rate of use of local parts and also increasing exports of components. In Viet Nam, companies spend billions of dollars each year to import spare parts and accessories, which causes production costs to be 10-20 per cent higher than in other countries in the neighbourhood and often makes enterprises wait for shipments, and reduces the rate of use of local parts to low levels. So many look for capable suppliers who can meet their… Read full this story
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