The Rising Trend of Multidisciplinary Linkages in the Vietnamese Business Community

The Transnational Meeting and Dissemination Event In Ho Chi Minh City, Vietnam | Lab Movie

The Vietnamese business community, particularly medium, small, and micro-sized enterprises, is witnessing a strong surge in the trend of multidisciplinary linkages. Numerous multidisciplinary business communities have emerged, fostering connection networks between manufacturing enterprises, service providers, and consumer partners. These linkages have significantly contributed to the growth rate and trade situation of member businesses[^1^].

The Benefits of Multidisciplinary Linkages

Dr. Cao Dinh Kien, from the Faculty of Business Administration at the Foreign Trade University, highlights the increasing popularity of business partnerships in the modern economy due to the benefits they bring to participating parties[^1^]. In an era of technological advancements and globalization, collaboration among businesses has become essential for expanding operations, reducing costs, and enhancing competitiveness[^1^]. The Vietnamese government has also introduced policies to encourage multi-sector economic development and promote international economic integration, providing potential opportunities for businesses to leverage the advantages of business association activities[^1^].

Challenges and Limitations

Although many business linkages have been established, there is a lack of initiative from participating entities, particularly small and medium-sized enterprises (SMEs) that stand to benefit the most from such activities[^1^]. Business associations in Vietnam have mostly been limited to horizontal and cluster linkages, forming craft villages or industry-specific associations[^1^]. Large enterprises often associate with smaller ones in the form of leasing or contracting, primarily for non-core business activities. However, the rate of conducting business linkages for core business activities or participation in the global value chain remains relatively low[^1^].

One of the reasons for this limitation is the predominantly informal nature of the Vietnamese economy, which is mostly run by households and individuals. The lack of standardized production processes and quality makes it challenging for large enterprises or foreign companies to trust and engage in long-term cooperation[^1^]. To encourage business linkage activities, coordination is required from the State, industry organizations, and economic entities[^1^].

The Business CommunityCoordinating Business Linkages

To promote business linkages, functional branches must establish a favorable legal framework, appropriate institutions, and relevant policies for different types of businesses to thrive[^1^]. Professional organizations across all economic sectors can play a vital role in facilitating communication through seminars related to business association activities. They can also provide consulting services and connect businesses, enabling them to find opportunities for collaboration and develop value chains both domestically and internationally[^1^]. However, these organizations require financial resources and skilled human resources to effectively fulfill their advisory role[^1^].

Finally, economic entities and business households need to be proactive in seeking opportunities to participate in business linkages and value chain formation. The initiative of economic actors plays a crucial role in the establishment and operation of economic links[^1^]. By actively seeking cooperation and addressing difficulties within the value chain, businesses can proactively optimize the socio-economic benefits derived from business linkages[^1^].

Benefits of Joining a Business Community - Journey Point


The trend of multidisciplinary linkages is gaining momentum in the Vietnamese business community, particularly among medium, small, and micro-sized enterprises. These linkages contribute to the growth and trade situation of member businesses, providing opportunities for expansion and increased competitiveness. However, there are challenges and limitations, including a lack of initiative from participating entities, limited forms of business associations, and a relatively low rate of conducting linkages for core business activities. To overcome these challenges, coordination is required from the State, industry organizations, and economic entities. By establishing a favorable legal framework, leveraging professional organizations, and fostering a proactive mindset among economic actors, Vietnam can further enhance the effectiveness and impact of business linkages in its market[^1^].