Boeing representatives visit Vietnamese private conglomerate Thaco

Boeing representatives visited Thaco Industries' factory in Quang Nam province in mid September while the group was seeking suppliers in Vietnam, the European-American Market Department reported on Wednesday.

The Ministry of Industry and Trade (MoIT) arranged a working session between Boeing Group and Thaco Industries, a unit of Thaco Group, within the framework of the Vietnam International Sourcing 2023 event series on September 14. On that day, Boeing had a tour of Thaco Industries' factory in Thaco Chu Lai Industrial Park, said the MoIT's department on its website.

At the meeting, Boeing Group shared its direction for developing the aerospace industry's supply chain in Vietnam and standards for Vietnamese suppliers.

Maxime Dourdan, director of supply chain development for Southeast Asia - Boeing Group, said that the aviation industry, with its complex production technologies, requires so many factors that Boeing cannot find suppliers immediately.

"Therefore, Boeing's roadmap starts by finding tier 3 and tier 4 suppliers to gradually upgrade the capacity of Vietnamese businesses to be able to provide Boeing with more important ancillary products. Tier 3 and 4 suppliers then gradually work up to tier 1 and 2 suppliers," he said.

According to Dourdan, Boeing recognizes the potential of the Vietnamese market and is very interested in finding suppliers in Vietnam.

In addition, he noted that to develop Boeing's supply chain in the Vietnamese market, the group has different strategies and solutions.

Boeing has established a specialized group in Vietnam and searched for suppliers to ensure that Vietnamese enterprises can provide products that meet the safety and quality criteria of the group.

On the occasion, Thaco Industries showed Boeing what it has achieved in recent times and shared its ability to meet production standards and the purchasing needs of Boeing Group.

American businesses, including Boeing, are looking for more partners in Vietnam after U.S. President Biden's September 10-11 visit. Vietnam and the U.S. have agreed to raise bilateral ties to a comprehensive strategic partnership, the highest in Vietnam’s diplomatic hierarchy. The upgrade puts Vietnam-U.S. relations on a par with Vietnam's relationships with China, Russia, India and South Korea.

The U.S. is Vietnam's largest export market and second biggest trade partner, behind only China. The U.S. became the first market to which Vietnam's exports surpassed $100 billion in 2022.