Business

Hanoi to host ninth Vietnam Support Industry Forum

The ninth Vietnam Support Industry Forum will be held in Hanoi on May 8 to boost the development of the industry providing spare parts for the manufacturing sector.
The ninth Vietnam Support Industry Forum will be held in Hanoi on May 8to boost the development of the industry providing spare parts for themanufacturing sector.

The forum, co-organisedby the Reed Tradex company and the Hanoi Trade Promotion Centre, isexpected to help businesses in this field seek partners and expand theiroperations through connection opportunities with manufacturers.

Reed Tradex Deputy Executive Director Duangdej Yuaikwamdee said thatto achieve sustainable development and attract more foreign investment,Vietnam should focus on restructuring its industrial sector anddeveloping support industries to ensure the industrial value chain.

The increasing number of foreign-invested projects in Vietnam willopen up moreopportunities for the producers in support industries, thusraising the demand for technology and modern production, he added.

In Vietnam, the support industry serving the automobile sector hasgained great success. The presence of giant manufacturers like Honda hasattracted many parts suppliers to Vietnam.

Fromnow to 2020, the country plans to develop the support industry to servefive sectors of automobile, electronics, information technology,footwear and garments.

Statistics from theMinistry of Industry and Trade show that exports of equipment andaccessories amounted to 1.53 billion USD in the first quarter of 2014, ayear-on-year rise of 9.7 percent.-VNA
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