Local firms urged to dive into global value chainDomestic firms should make great efforts in the competition with foreign invested firms to contribute more actively to the global value chain and participate more effectively in the world’s production network, experts said. Of the estimate, the export value earned by FDI enterprises reached more than $120 billion, up 10.2 per cent against the previous year. Doanh said domestic enterprises had been urged to improve capacity and enhance competitiveness right when the contribution of FDI firms in the export value was standing at 50 per cent. However, until now, when the rate had risen to 70 per cent, local firms still remained passive in global value chains. Trinh said the government’s policies assisting domestic enterprises should begin with concrete actions such as reducing taxes, reconsidering tax policy to guarantee fairness between FDI and domestic enterprises.

Source: VietNamNet News February 08, 2017 02:15 UTC