Illustrative image (Source: VNA) 
 
Hanoi (VNA) – The sixth International Precision Engineering, Machine Tools, and Metalworking Exhibition and Conference (MTA Hanoi 2018) will take place in Hanoi from October 16-18, attracting 165 exhibitors, 75 percent of whom are foreign representatives.

BT Tee, General Director of UBM Company Vietnam, said MTA Hanoi 2018 will showcase a variety of modern technologies and smart machinery from well-known brands worldwide, while also opening up promising business opportunities for leading firms in the supply chain of manufacturing and processing in the north of Vietnam.

Commenting on domestic mechanical engineering, head of the Hanoi University of Mining and Geology’s mechanical technology faculty Pham Duc Thien said that firms in this sector hold a total capital of nearly 360-380 million USD, while the total foreign investment in manufacturing is nearly 2.1 billion USD – a figure which will continue to rise in the future.

It is forecast that mechanical engineering’s exports will reach 35 percent, 40 percent, and 45 percent of the total figure of the whole mechanics sector by 2020, 2030, and 2035, respectively.

The sector has set the goal of developing the manufacture of automobiles, motorbikes, agricultural machinery, and industrial and electrical equipment to meet the demands of domestic consumption and exports, while also improving workforce quality in the field.

On the sidelines of the event, scientific seminars will be held on information safety, economic models to optimise firms’ and consumers’ interests, and the transformation of digital enterprises in the Fourth Industrial Revolution. –VNA