New opportunities for manufacturing industry

15:43 | 27/10/2016 Industry

(VEN) - Four mega exhibitions including METALEX Vietnam 2016, Business Alliance 2016 for Supporting Industry, NEPCON Vietnam 2016, and Industrial Components & Subcontracting Vietnam 2016 opened on October 6, with the support from Reed Tradex, the ASEAN’s leading exhibition organizer in cooperation with Japan External Trade Organization (JETRO) in HCMC, Investment and Trade Promotion Center of Ho Chi Minh City (ITPC), as well as other domestic and international trade promotion organizations.

New opportunities for manufacturing industry

Known as an annual outstanding exhibition focusing on the manufacturing industry for a decade, METALEX Vietnam 2016 marked its return as a comprehensive platform for industrialists by providing relevant and specific industry intelligence in term of technology, machinery, and networking.

In celebration of the 10th anniversary, Isara Burintramart, Managing Director of Reed Tradex Co., Ltd. said, “During 10 years of development, METALEX Vietnam has been aiming at providing industrialists the adequate preparations they need to thrive in the bigger competitive landscape. METALEX Vietnam has gained a trust as a Vietnam’s international exhibition which supports to bring unique opportunities for all participants to learn, source new machinery, and getting the latest development in metalworking.”

Accompanied with METALEX Vietnam, there was the opportunity for electronics manufacturers to witness the technologies at NEPCON Vietnam 2016. Electronics have been seen as a spear-head of the Vietnamese manufacturing sector in recent years. Several big multinational electronics enterprises such as Samsung, Intel, Microsoft, LG and Panasonic have transferred their operations partly or completely to Vietnam and invested billions of dollars in just a few years. As the only exhibition for electronics industry in Vietnam, it is the most effective channel for Vietnam manufacturers to see new SMT and machinery to ensure quality electronics parts is on parity with global standards.

Over the last 10 years, bilateral trade between Vietnam and Japan has experienced impressive growth of 13.9 percent a year, the latest report from the General Department of Vietnam Customs revealed. To serve demand and build up stronger relationship between Japanese and Vietnamese companies, the Business Alliance 2016 for Supporting Industry was held.

 

Vietnam is becoming Asia’s new manufacturing hub and has successfully transformed to be one of the most attractive investment destinations in the world thanks to comparative advantages as labor cost, tax incentives and favorable location in supply chain. The business opportunity was also further provided thanks to the organization of the Industrial Components & Subcontracting Vietnam 2016, the platform where parts makers and buyers can come to work together on the path to prosperity.

“I am confident that the powers of four shows will foster better collaboration through the exchange of best practices among local and overseas delegates. Furthermore, Reed Tradex has prepared concurrent activities to offer new knowledge and inspiration to participants for instance Engineer Master Class, Technology Presentations, Shows in Show, Hand Soldering Championship, and Koma Taisen Competition,” said Isara Burintramart.

 

Takimoto Koji, Chief Representative, Japan External Trade Organization (JETRO HCMC) said, “At present, the local procurement ratio of Japanese enterprises in Vietnam is still at very low level of 32 percent compared to 56 percent in Thailand, 65 percent in China. I think competitive capability improvement will be an urgent mission for assembled product manufacturers (set-makers) and a strong increase of local procurement ratio will become an important key to success for Japanese companies before 2018 ASEAN economic integration and Vietnamese tax abolition”.

 “This exhibition is not only an exhibition for supporting industry which has been carried out so far with many cooperative enterprises but also an exhibition focusing on 14 big set-makers as a hub of Japanese buyers to make our business matching more efficiently. I also believe that a cheaper price and better quality and strictly on-time delivery are required from a new transaction”, said Takimoto Koji.

Pham Thiet Hoa, Director, Investment & Trade Promotion Center (ITPC) said, “Export Processing Zones & Industrial Parks in Ho Chi Minh City now have got about 260 FDI enterprises in supporting industry, accounting for over 50 percent of the total FDI companies. These companies mainly produce electronics, machinery and automotive industries. Their products are mainly exported abroad in order to implement the next process of the global supply chain. Most of materials, components and parts are imported from abroad. This shows that the connection and co-operation between local enterprises and foreign invested enterprises are still limited.”

“Therefore, in order to promote the development of supporting industries in Vietnam in general and Ho Chi Minh City in particular, ITPC and JETRO co-organized the exhibition “Business Alliance for Supporting Industry 2016. With this goal, we hope that the exhibition this year will gain great success to help domestic and foreign enterprises meet the reliable and potential partners”, said Pham Thiet Hoa.

 

Le Thanh Liem, Vice Chairman, Ho Chi Minh City People’s Committee emphasized, “Developing supporting industry plays an important role in improving the local rate, increase the value and competitiveness of industrial products, reduce trade deficit, increase the ability to attract foreign investment and facilitate development of small and medium-sized businesses, and is considered as breakthrough solutions to innovate investment structure, improve the quality of economic growth, competitiveness, shifting economic structure of the city from the width  to depth.”

 

My Phung

Theo ven.vn