SOME SOLUTIONS TO PROMOTE VIETNAM’S PARTICIPATION INTO GLOBAL VALUE CHAINS

Abstract

Based on the synthesis of existing studies on the role of global value chains (GVCs) in developing countries socio-economic development and analysis of Vietnam's current situation in global GVCs. With a systematic approach, the article proposes essential solutions to sustainably promote Vietnam's participation in global GVCs. Research shows that participation in global GVCs plays an important role in the socio-economic development of developing countries like Vietnam. Despite many successes, Vietnam is still at the bottom of global GVCs. To promote participation in global GVCs, Vietnam needs to take a systematic approach, focusing on inclusivity and sustainability, with an emphasis on the improvement of the capacity of enterprises to comply with quality standards, investment promotion, industrial clusters and export alliances development, knowledge exchange and learning networks development, greening of value chains and social justice in the development of GVCs.