09:50 | 19/04/2016 Companies
(VEN) - As an importer and exporter of support industrial products, the company has rapidly adapted to new market conditions as Vietnam has increasingly integrated into the world via a series of signed free trade agreements. Vietnam Economic News’ Nguyen Huong interviewed Phan Anh Tuan, Manager of the Business Department of the Nagoya Industrial Equipment Company.
Phan Anh Tuan (third from left) on a working trip to Japan
Could you brief on the company’s activities?
The Nagoya Industrial Equipment Company was established in 2001, specializing in provision of made-in-Japan quality industrial products for factories, workshops and construction sites including bottle jacks, battery pallet trucks, stackers, pneumatic hand tools, steam couplings and industrial tubes.
Our major customers are foreign direct investment (FDI) enterprises including Hal Vietnam, Toyota, Yazaki, Brother, Nissan and Piaggio.
What about the company’s development plan to meet market demand as Vietnam has signed a variety of free trade agreements including the Trans-Pacific Partnership (TPP) and ASEAN Economic Community (AEC)?
We have anticipated the related business opportunities and challenges from Vietnam’s participation in TPP and AEC.
As for opportunities, we will be able to approach regional and global big partners and widen the market for our perse products. We will struggle to provide key products especially automotive and electronic components for our traditional customers at better prices in addition to improved services.
We will consider enhancing our competitiveness to cope with new imported alternatives on account of tariff preferences.
What do you think about domestic support industrial capacity?
In fact, domestic support industrialists currently benefit much from investment inflows, especially from Japan which has marked a regular increase in investment in Vietnam over the past few years.
However, domestic support industrialists have failed to boost manufacturing due to limited technologies and less competitive prices. Moreover, the majority of support industrial facilities which are small to medium-sized are unable to afford large investment projects and are weak in manufacturing management and link capacity.
We expect that Vietnam will focus more on the development of support industries in the context of increasing international integration.
What are the company’s key products to be exposed at the Manufacturing Expo 2016?
We have participated in this expo for four years and this year we will introduce our key products at two booths including Japanese wheels, carts and industrial tubes.
We expects that the event will end in success and attract a large number of common and commercial visitors with whom we will be glad to share our experience and to work with.