08:30 | 16/04/2017 Trade
(VEN) - The 27th Vietnam International Trade Fair, Vietnam Expo 2017, will take place in Hanoi from April 19 to 22. The theme chosen for this year’s fair is “Enhancing Regional and Global Economic Links”.
This is the country’s biggest annual trade promotion event, bringing together many hundreds of domestic and foreign companies.
It is being organized by the Vietnam National Trade Fair and Advertising Joint Stock Company (Vinexad) under the guidance of the Vietnam Trade Promotion Agency (Vietrade) of the Ministry of Industry and Trade. The Republic of Korea (RoK) has been invited to be the Country of Honor at Vietnam Expo 2017.
Vietnam Expo 2017, with nearly 600 pavilions, will gather more than 500 businesses from 23 countries and territories, such as Algeria, Cuba, Cambodia, Chinese Taipei, the Republic of Korea, Russia, Japan, Mongolia, Laos, Thailand, Turkey, China, Iran and Pakistan. Participants will also include businesses from Vietnamese provinces and cities.
Seeking to boost exports, develop the domestic market, and promote goods and services which represent Vietnam’s advantages, Vietnam Expo 2017 will gather businesses which have won the Vietnam Value title.
|The Vietnam Export Promotion Forum, as part of Vietnam Expo 2016,
attracted a large number of participants
These include: the Hanoi Trade Corporation (Hapro), Tran Phu Electric Mechanical Joint Stock Company, Da Nang Rubber Joint Stock Company, Binh Minh Plastics Joint Stock Company, Duy Tan Plastics Joint Stock Company, Tien Phong Plastics Joint Stock Company, Hanoi Beer, Alcohol and Beverage Joint Stock Corporation (Habeco), Quang Ngai Sugar Joint Stock Company, TH TrueMilk Joint Stock Company, and OPC Pharmaceutical Joint Stock Company.
Vietnamese participants will also include the owners of strong brands, such as Rang Dong Light Source and Vacuum Flask Joint Stock Company, Vietnam Paper Corporation, Sao Vang Rubber Joint Stock Company, Tran Hung Dao Mechanical Company Limited, and Binh Son Refining and Petrochemical Company Limited.
The RoK is Vietnam’s third largest trading partner and the largest foreign investor in Vietnam with total investment of US$50 billion. 2017 will mark the 25th anniversary of diplomatic relations between the two countries and is expected to experience further efforts to boost bilateral trade and investment.
As the Country of Honor at Vietnam Expo 2017, the RoK will bring 130 companies to the fair and their products will be presented in 136 pavilions, including electronic and electrical appliances, cosmetics, smart toys, processed food and household utensils. These products will enjoy import tax reductions under a roadmap specified in the free trade agreement signed between the two countries in late 2015.
An export promotion forum, a visit to the Vietnam-Singapore Industrial Park and business meetings will be held in the framework of Vietnam Expo 2017 to create added value for participants. Vietrade and the Korea Institute of Design Promotion are organizing a joint pavilion to provide design and product development support. Vietrade is also putting up an investment promotion and industrial development pavilion to provide up-to-date information about the investment environment in Vietnam. The pavilion will also introduce potential and investment opportunities in Vietnamese localities, such as the city of Hai Phong and the provinces of Vinh Phuc, Thanh Hoa and Dong Thap.
Business development opportunities
Vietnam Expo has created a playing field where participating businesses can attract the attention of consumers and international friends to their products and services.
Habeco was one of the official sponsors of the fair in the last two years. In 2016, Habeco established relations with eight Belarusian businesses participating in the fair. This year, the corporation expects to find at least 10 new foreign partners in an effort to increase its presence overseas. The Duy Tan Plastics Joint Stock Company has been a co-sponsor of Vietnam Expo for many years and will continue this role in 2017. The company will introduce its new products and expects to sign cooperation contracts with domestic and foreign partners at the fair.
2017 will be the 19th consecutive year of the Korea Trade-Investment Promotion Agency (KOTRA)’s participation in the Vietnam Expo. KOTRA Director Park Chul Ho expects that Vietnam Expo 2017 will offer Vietnamese and South Korean businesses a chance to seek potential partners for increasing trade and investment between the two countries. He believes the fair will help businesses set up their own supply chains.
The year-long hosting of APEC 2017 meetings in Vietnam will create a golden opportunity for the Vietnamese business community to develop, as well as for APEC businesses to increase investment and expand operations in Vietnam. Vietnam Expo 2017 will be one of the trade and investment promotion events helping businesses make the most of this opportunity.
Quynh Nga - Hoa Quynh