Businesswomen Advance to Join Global Supply Chain

10:02:49 AM | 5/11/2019

“New-generation supply chain management requires product design to be integrated with production capabilities, delivery processes and customer demand information. Achieving this requires a holistic view of the business process throughout the product lifecycle and across geographical boundaries. Women entrepreneurs, with a sophisticated view and a sensitive heart, will participate in and manage supply chain management effectively,” said Ms. Nguyen Thi Tuyet Minh, Chairwoman of the Vietnam Women Entrepreneurs Council (VWEC), and Vice Chairwoman of the Central Council of Vietnam Business Associations, at the Forum on “Positioning women entrepreneurs in the global supply chain”.

The forum was organized in Hanoi by the Vietnam Chamber of Commerce and Industry (VCCI) in cooperation with Coca-Cola Beverages Vietnam Limited and the Vietnam Women Entrepreneurs Association.

She said, according to a recent analysis by the Linkages for Small and Medium Enterprises (USAID LinkSME) funded by the United States Agency for International Development (USAID), Vietnam’s current growth potential through the strengthening of domestic supply chains is US$58 billion. Deeper global and regional integration will motivate Vietnamese businesses to become more involved in different stages of the global supply chain and also to be more interdependent.

However, according to Ms. Minh, currently small and medium-sized enterprises (SMEs) in general and women-owned enterprises in particular are still facing obstacles in building and developing their own supply chains and joining global supply chains because they lack capital and skilled workers, use outdated technology, have weak management, logistics and distribution of goods or even lack experience working with foreign businesses.

Therefore, if they want to join the global supply chain to expand their export markets and assert their position in the international market, they need to upgrade themselves by investing in technological innovation, enhancing productivity, improving production processes, making good products, ensuring progress and quality, and upgrading management systems. They also need to conduct research on market and laws, analyze their capabilities, strengths and weaknesses to figure out an appropriate orientation and development strategy,” she said.

Mr. Tran Thanh Hai, Deputy Director of Import and Export Department under the Ministry of Industry and Trade, said, to join and administer the supply chain effectively, entrepreneurs themselves have to raise their awareness, seize opportunities, and sharpen competitiveness. Particularly, they need to think big on the international level.

The supply chain not only covers merchandise but also extends to information technology. The sooner they join the supply chain, the sooner they achieve success.

Dr. Truong Thi Chi Binh, Vice Chair cum General Secretary of Vietnam Association of Supporting Industries (VASI), who has nearly 20 years of experience in policy-making and development promotion of supporting industries, said, women-owned businesses only accounted for 7.6% of VASI memberships. But, they are leading lights in manufacturing parts for global motorcycle, automobile and electronic supply chains.

Within the framework of the forum, VWEC Chairwoman Nguyen Thi Tuyet Minh signed a memorandum of understanding for cooperation on support for Vietnamese women-led businesses to join global chains with the US-ASEAN Business Council (USABC) and Coca-Cola Beverages Vietnam Ltd.

On this occasion, the Organizing Committee also announced the title “ASEAN Entrepreneur of the Year” for 10 Vietnamese businesswomen for their excellence. They are inspirational role models for women seeking to start and grow businesses in Vietnam.

Anh Mai