09:45 | 28/08/2019 Industry
(VEN) - The 11th Vietnam Manufacturing Expo (VME 2019), Vietnam’s leading exhibition on machinery and technology for manufacturing and support industries, and the 8th Vietnam-Japan Supporting Industries Exhibition (SIE 2019) took place on August 14-16 in Hanoi, with the participation of over 200 leading brands from 20 countries and territories.
VME 2019 updates latest technologies
The annual VME is designed to help businesses, especially small- and medium-sized enterprises (SMEs) increase competitiveness in manufacturing and support industries. VME 2019 displayed the latest machinery and technologies for manufacturing and support industries, and provided opportunities for Vietnamese SMEs to integrate into global supply chains. The event provided an industry-wide connecting hub, gathering over 10,000 industrial part-making factory owners, engineers and industrialists to discover new solutions and partners via on-site seminars, workshops and other activities offered at exhibitors’ booths.
Vu Trong Tai, general manager of the organizing company, Reed Tradex Vietnam, said Vietnam’s industrial sector is a strong draw within the ASEAN bloc. With investment in production, supportive government policies, and advantages in human resources, many multinational corporations have built factories in Vietnam’s industrial zones to expand resources and increase production capacity to meet growing market demand, Tai added.
The exhibition created a unique platform to connect technology and solution providers, as well as suppliers with industrial manufacturers to explore cooperation and establish business networks.
Taveesak Srisuntisuk, general manager of the AEC & Pacific region for Hexagon, said the group is a regular participant in VME, which provides it with an opportunity to meet customers directly, given that Vietnam’s support industries are showing great potential. Through the exhibition, the group has expanded its business network. Currently, the group supplies components and spare parts for large corporations operating in Vietnam, such as Samsung and Vinfast.
Connecting Vietnamese, Japanese support industries
The SIE aims to assist Vietnam’s support industries and increase local content, as well as the purchasing ratio of parts and components for Japanese companies operating in Vietnam.
Vietnamese Deputy Minister of Industry and Trade Do Thang Hai said the two exhibitions provided practical opportunities for Vietnam’s support industries to access the latest manufacturing technologies and meet potential partners directly.
The exhibition created opportunities for businesses to meet and exchange information. Among 1,800 members of the Japan Chamber of Commerce and Industry (JCCI) in Vietnam, up to half are operating in the field of support industries. Therefore, Vietnamese SMEs, especially manufacturers and suppliers in support industries, play a key role, helping Japanese businesses to conduct their business activities in Vietnam.
Hironobu Kitagawa, chief representative of the Japan External Trade Organization (JETRO) in Hanoi, said Japanese companies are increasingly interested in the Vietnamese market. According to the 2018 JETRO survey result, nearly 70 percent of Japanese companies confirmed plans to expand activities in Vietnam within the next one or two years, a higher rate than in other ASEAN countries.
In Vietnam and other ASEAN countries, SMEs play an important role in the economy. To support SMEs, VME 2019
partnered with LinkSMEs project, funded by the United States Agency for International Development (USAID). The
project has a total budget of US$22.1 million for the 2018-2023 period to catalyze systemic changes in business
relationships and build links between Vietnamese firms and the global value chain.