Int’l machinery, supporting industry fairs open in HCM City hinh anh 1A booth displaying industrial parts at the 2019 Vietnam Supporting Industry Fair, which is being held along with the Vietnam International Machinery Fair in HCM City from December 11 to 14 (Photo: VNA)

HCM City (VNA) - The 2019 Vietnam International Machinery Fair and 2019 Vietnam Supporting Industry Fair opened in Ho Chi Minh City on December 11, offering opportunities for companies in the manufacturing and supporting industries to compare notes and explore business opportunities.

Pham Thanh Kien, Director of the city Department of Industry and Trade, said the two fairs feature 300 exhibitors from 12 countries and territories, including the Republic of Korea, Thailand, Japan, Singapore, the US, UK, China, Germany and Vietnam.

Thirty percent of the 460 booths are displaying supporting industry products produced by Vietnamese companies and metal products and metalworking solutions, 25 percent are showcasing automation solutions and motion control systems, industrial materials and components, and construction machinery, and the rest have factory and electrical equipment, he said.

There will also be specialised seminars, field visits and business-matching events to update participants on the top international trends and technologies, and offer business opportunities, he said.

Speaking at the inauguration, Nguyen Thanh Phong, Chairman of the municipal People’s Committee, said the city has been focusing on the development of processing and manufacturing industries to produce supporting products for domestic consumption and export.

Supporting industries are critical and will be a growth engine for other industries, he said.

The city has in place an investment stimulation programme to boost the development of the manufacturing and supporting industries, which has helped firms invest in upgrading machinery and equipment, he said.

Many companies participating in this programme have started joining global supply chains and some companies such as Hiep Phuoc Thanh Company and Minh Nguyen Supporting Industries JSC have become suppliers for Samsung, he said.

The city has attractive policies to solicit foreign investment in its supporting industries.

Organised by the municipal Department of Industry and Trade’s Supporting Industry Development Centre, the Korea Association of Machinery Industry, Coex Vietnam and the HCM City Association of Mechanical – Electrical Enterprises, the fairs will run until December 14 at the Saigon Exhibition and Convention Centre in District 7./.