Vietnamese market remains potential

10:53 | 30/06/2015 Industry

(VEN) - Vina Taiyo Spring Co., Ltd. General Director Uene Kentaro talked about prospects for the Vietnamese support industries and the company’s business strategies in the coming time in an interview with Vietnam Economic News’ Nguyen Huong.

Vietnamese market remains potential

Could you introduce Vina Taiyo Spring’s operations in Vietnam?

The Vina Taiyo Spring Co., Ltd. was established in 2008 in Vietnam. We are a foreign direct investment company with 100 percent of investment capital from the THS Spring Co., Ltd. in Osaka, Japan. The company’s main products are stamping and forming parts. In addition, the company promotes investment in other fields such as designing and manufacturing metal mold, lathe processing, polishing, spot welding, heat treatment and surface treatment.

With many years of experience in manufacturing processed products such as plate springs, leaf springs and spacers on the alloy materials like steel, copper and aluminum, our products are used in the automotive industry, motorcycles, electronics, living devices and other fields. We are proud of making significant contributions to the development of the Vietnamese support industries.

How do you evaluate the Vietnamese market?

The Vietnamese market has much potential and the Vietnamese support industries have strongly developed in recent times. However, the domestic market on support industries has remained small and Vietnam has to import many materials, leading to high product prices. Vietnam needs to overcome the difficulties to ensure the strong development of support industries in the coming time. In cases where domestic businesses do not meet the requirements, the state needs to consider tariff reduction on support industry products, helping manufacturers ensure material supplies, lower product prices and develop more competitive products.

 

Will the establishment of the ASEAN Economic Community (AEC) by the end of this year affect the company’s operations?

With the establishment of the AEC by the end of this year, ASEAN countries will become attractive destinations in the eyes of investors. In addition to building more plants in Vietnam, the Vina Taiyo Spring Co., Ltd. plans to expand operations in the Indonesian market.

We are building an additional plant in Vietnam with a total capital of around US$2 million, aiming at a two-fold increase of the current scale, output and revenues. A new plant is expected for completion by the end of the year and put into operation by March 2016. The company is also driving towards manufacturing export products when a new plant is put into operation.

Which products will the company exhibit at the Vietnam Manufacturing Expo 2015?

Manufacturing Expo is a leading exhibition in Vietnam in terms of machine tools, mold making and plastic injection technologies. We will display a wide variety of our products such as stamping and forming machines and heat treatment products.

 

Nguyen Huong

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