Reed Tradex ready with Vietnam industrialists to catch new investment wave (Illustrative image. Source: VNA)The manager noted that 2016 has closed with the great success of the10th year of Reed Tradex in Vietnam. The company has welcomed over 30,000 quality visitors in two economic hubs of Vietnam which are Ha Noi and Ho Chi Minh City.
According to Kasinee Phantteeranurak, in many ways, Vietnam is the emerging market in Asian region with high investment potentials. She cited the World Investment Report 2016 which said FDI inflows to Vietnam have increased considerably, and are expected to continue in growth, confirming the country's position as the third most attractive country in terms of FDI in Asia, just behind China and India. In the past, FDI flows were directed towards light industry, but they are now quickly turning towards heavy industry, real estate, franchise and tourism. With the positive effects from FDI, Vietnam now produces high value-added products such as smart phones and tablets.
“Vietnam is a country of changes and currently offering increasing opportunities for foreign businesses,” she said, stressing that it is now exactly the time for foreign investors to start their business plans and grasp the upcoming clear opportunities.
Asked about the opportunities that Vietnam needs to grasp and also challenges to the country in its integration process, she said Vietnam's economy faces complex challenges that require a transition to a productivity-driven growth trajectory.
“According to McKinsey Global Institute, Vietnam needs to boost its overall labour productivity growth by more than 50 percent, from 4.1 percent annually to 6.4 percent, if the economy is to meet the government’s target of 7 to 8 percent annual growth by 2020. More than ever, a long-term infrastructure development plan is recommended to be set up, which should focus on investor needs and address shortages of skilled workers through training programmes and the introduction of common standards for all the workers to upgrade themselves,” Kasinee Phantteeranurak said.
She remarked that in recent years, Vietnam has transformed itself from subcontracting and assembly to be the industry of processing and manufacturing, the integration pressure on industrial products will get higher in near future. Vietnam’s science and technology development strategy until 2020 requests a 15-20 percent of technological improvement a year. It means that after five years, a new generation of technology must replace the old one.
“But the good news is, on the other hands, innovation means not only replacing old machines with new ones but also changing a management system as well as developing high-quality human resources, which remains uncompetitive level in Vietnam,” she said.
She went on to say that one of the solutions is to strengthen cooperation between scientists and businesses as well as promote international cooperation in the fields of science and technology in order to keep up with the world. As a business promoter, especially in manufacturing industry, Reed Tradex does believe that it is not about using the most modern technology, but the right technology will help Vietnam to narrow the gap with hi-tech world's demand.
“The world is changing; the game “big fish eat little fish” is not going well anymore, replaced by “fast fish eat slow fish,” according to the manager.
She informed that in 2017, the company will focus on developing the exhibition programme to be more competitive. It will coordinate with organizations and experts in the industry, also the businesses who are holding the technology, to implement the transmission of knowledge resources, technology transfer and exchange of the ability to apply technology and machinery practically, with highest financial efficiency for the manufacturers in Vietnam.
This year, the company offered an international business platform for industrialists in Hanoi through the international exhibition “Vietnam Manufacturing Expo 2017” which was held from 26 – 28 April, 2017. The exhibition will return to Hanoi in 2018 from 8 – 10 August.
It is also in process to launch the “Nepcon Vietnam 2017” which is a special exhibition on SMT & testing technologies, equipment and supporting industries for electronics manufacturing. “Nepcon Vietnam 2017” will celebrate its 10th edition and will be held at Hanoi International Center for Exhibition (I.C.E) from 13 – 15 September.
From October 12-14, at Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, the company will introduce the 11th edition of “Metalex Vietnam 2017” which is an international exhibition on machine tools & metalworking solutions for production upgrade.
“We will welcome the entire local and foreign industrialists to the exhibitions, which will come along with business match-making programmes in which the participants will not be charged any fee,” the manager said, adding that at the exhibitions, there is the presence of not only the leading brands from around the world, but also experts in the industry, who will always be ready to share technical experience and technology's knowledge to all visitors.-VNA
VNA
