Business

Expos expected to bring cooperation opportunities for Vietnamese, Japanese firms

The 10th Vietnam-Japan Supporting Industry Exhibition (SIE) and the 14th Vietnam Manufacturing Expo (VME) will take place in Hanoi from August 9-11 with the participation of over 200 manufacturers and distributors from 20 countries and territories, organisers of the events have announced.
Expos expected to bring cooperation opportunities for Vietnamese, Japanese firms ảnh 1RX Tradex Vietnam General Director Vu Trong Tai speaks at the press conference announcing the 10th SIE and 14th VME. (Photo: VNA)

Hanoi (VNA) – The 10th Vietnam-JapanSupporting Industry Exhibition (SIE) and the 14th Vietnam ManufacturingExpo (VME) will take place in Hanoi from August 9-11 with the participationof over 200 manufacturers and distributors from 20 countries and territories,organisers of the events have announced.

The organisers are RX Tradex Vietnam, Japan External TradeOrganisation (JETRO) and Vietnam Trade Promotion Agency (Vietrade)under the Ministry of Industry and Trade.

Speaking at the press conference to announce the events onJune 20, RX Tradex Vietnam General Director Vu Trong Tai said that the WorldBank's half-year report on Vietnam's economic situation points out that to achieve the goal of becoming a high-income country by 2045, Vietnam needs to exploit its diversified services more effectively tosustain sustainable productivity growth. It is necessary to implement reformsthat enhance productivity in the service sector and make cross-sectoralcontributions to productivity growth in the manufacturing and agriculturesectors.

Expos expected to bring cooperation opportunities for Vietnamese, Japanese firms ảnh 2Representatives from RX Tradex Vietnam, Japan External Trade Organisation (JETRO) and Vietnam Trade Promotion Agency (Vietrade) sign agreement on the organisation of the 10th SIE and the 14th VME.(Photo: dangcongsan.vn)

Chief Representative of JETRO in Hanoi TakeoNakajima said that, according to a survey by JETRO, the percentage of Japanese companiespurchasing raw materials, components and accessories in Vietnam has increasedfrom 28% in 2012 to 37% in 2022. Although this rate has increased, it is stillvery slow compared to the economic development of the two countries.

With the initiativeto raise the localisation rate, JETRO organised the Vietnam - JapanSupporting Industry Exhibition (SIE) alternately in Hanoi and Ho Chi Minh Citywith the cooperation and support of the Vietnamese government.

Viettrade Director Vu Ba Phu said that Vietnam currently has about2,000 enterprises producing spare parts and components, of them only about 300enterprises have participated in the multinational supply chain, creating jobs formore than 600,000 workers. The number of enterprises operating in the supportingindustry currently accounts for nearly 4.5% of the total number of businesses in the processing and manufacturing industry.

He said that the the organisation of the Vietnam - Japan SupportingIndustry Exhibition is of great significance, helping Vietnamese enterprises enhance their production capacity and better connect with Japanese partners./.

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