Comprehensive platform to drive Vietnam’s manufacturing industry

14:24 | 17/08/2018 Companies

(VEN) - Reed Tradex, the organizer of METALEX Vietnam recently announced the cooperation with the Japan External Trade Organization (JETRO) in Ho Chi Minh City, the Investment and Trade Promotion Center (ITPC), and the Ho Chi Minh City Center of Supporting Industries Development (CSID) to coorganize Supporting Industry Show 2018.

comprehensive platform to drive vietnams manufacturing industry

The Supporting Industry Show 2018 will be organized on October11-13, at the Saigon Exhibition and Convention Center (SECC). At the same time, the METALEX Vietnam 2018 will gather and introduce 500 brands of latest machine tools and metalworking solutions for production upgrade from over 25 countries. The exhibition is expected to be more comprehensive with the colocation of the NEPCON Vietnam 2018 which will be a platform for electronics manufacturers to meet with providers of technologies and solutions from 200 brands, 20 countries.

This alliance will empower the transfer of new technologies and the expansion of business networks between Japanese and Vietnamese businesses, which are vital to sharpen the competitive edges of supporting industry.

Takimoto Koji, Chief Representative from the Japan External Trade Organization (JETRO) in Ho Chi Minh City said, to create a win-win relationship between Japan and Vietnam at the Supporting Industry Show 2018, there will be 18 Japanese major companies will join as buyers. Another 30 Vietnam companies will exhibit as suppliers. Koji added, “The Local Procurement Ratio (LPR) of Vietnam was 33.2 percent in 2017. It is the lowest among the six countries in our survey. With the Supporting Industry Show 2018, we aim to raise the local procurement rate by connecting companies at the exhibition.”

According to Cao Thi Phi Van, Vice Director of the Investment and Trade Promotion Centre (ITPC), participation in the Supporting Industry Show 2018 is a part of the comprehensive strategy plan for supporting industry (SI) development by ITPC in 2015-2020 and 2021-2025. The orientation consists of three points: firstly, to create a domestic production networks which can manufacture finished products, and engaged to the global value chain; secondly, to attract more FDI to invest in high-value SI products; and thirdly, to support SMEs to be able produce SI products in the direction of import substitution and increase value added.

Le Nguyen Duy Oanh, Vice Director of the Ho Chi Minh City Center of Supporting Industries Development (CSID) said, “There is great potential to develop the mechanical sector in Ho Chi Minh City, especially the automobile industry. This year, CSID will work closely with JETRO to bring manufacturers in Ho Chi Minh City to join the Supporting Industry Show 2018. This is a great opportunity for companies to raise supply capacity, connect with more domestic and oversea partners, thus gradually joining the global supply chain.”

Suttisak Wilanan, Deputy Managing Director of Reed Tradex also expressed his optimistic view on the exciting return of the automotive industry. He said, “Vietnam is in a strategic location astride, located in the center of ASEAN with many major seaports. Therefore, Vietnam can coordinate with key players - Thai and Indonesian car makers to set up a sustainable development cluster for the automobile industry”.

My Phung