A booth at the 10th Vietnam - Japan Supporting Industry Exhibition (SIE) which opened in the capital city on August 9. (Photo: VNA) Vietnamese Deputy Minister of Industry and Trade Do Thang Haidelivered this statement at the opening ceremony of the 10th Vietnam-JapanSupporting Industry Exhibition (SIE) in the capital city on August 9.
Recognising the importance of supporting industries, theGovernment has implemented the Supporting Industry Development Programme whichruns until 2025.
Through this programnme support has been provided to Vietnameseenterprises to adopt modern quality standards and management systems andgradually integrate into the global supply chain. It will also increaselocalisation rates in important manufacturing sectors such as automobiles,textiles, footwear, and electronics.
The State has created favourable conditions for supportingindustry firms to sharpen their competitiveness, Hai said.
In his speech, Hai also praised the Vietnam-Japan SupportingIndustries Exhibition, saying that it will provide practical opportunities forVietnamese supporting industry firms to access and learn about new markettrends, and technological innovations, and to directly engage with potentialpartners from Japan and internationally, thus contributing significantly to thestrong and sustainable transformation of Vietnam's supporting industry.
Hosted by the Japan External Trade Organisation (JETRO) Office inHanoi and the Ministry of Industry and Trade (MoIT)'s Trade Promotion Agency,this year's edition attracted 50 firms from Vietnam and Japan.
Takeo Nakajima, Chief Representative of the JETRO Office in Hanoi,said the percentage of domestic procurement in Vietnam for Japanese companiesincreased to 37% in 2022 from 28% 10 years ago as per a JETRO survey.
Despite this growth, it still did not match the economicdevelopment pace of both countries, he said.
Furthermore, among the total localisation rate, the rate ofsourcing components from Vietnamese businesses stood at only 15%. This figurewas lower than neighbouring countries such as Thailand and Malaysia. Vietnameseenterprises need to make efforts to enhance their supply capabilities toincrease the localisation rate, he said.
He added that this year's exhibition features participation from22 Japanese companies seeking Vietnamese suppliers and 28 Vietnamese companiesaiming to provide for Japanese partners. The Japanese companies in thisexhibition come from various sizes in industries such as motorcycle andautomobile parts, industrial machinery, and moulds in Vietnam.
Through this exhibition, JETRO aims to contribute to thedevelopment of the supporting industries in Vietnam and support Japanesecompanies in finding suitable suppliers, thereby promoting trade and investmentgrowth between our two countries, in commemoration of the 50th anniversary ofJapan-Vietnam diplomatic relations.
The SIE runs along with the 14th Vietnam Manufacturing Expo (VME),one of the leading exhibitions on machinery and technology for manufacturing.
Organised by RX Tradex Co, VME is displaying the latest machineryand technologies for manufacturing and supporting industries by 200 brands from20 leading technology countries including Japan, the Republic of Korea, China,Taiwan (China), and Thailand together with the participation of more than 200international booths and many leading companies in Vietnam.
"Vietnam is gaining a reputation as a top destination of newinvestment for manufacturing to meet the rapid increase in demand for bothexport and domestic consumption," said Yip Je Choong, Senior VicePresident, Commercial - Asia Pacific, Corporate Management of RELX (Singapore)cum Representative of RX Tradex Vietnam.
"RX believes that exhibition is one of the most criticalplatforms for international and domestic buyers and sellers to meet and createnew business opportunities while helping grow Vietnam’s capabilities andcompetitiveness," he said.
The event will also create business opportunities for both globalbrands and small and medium-sized enterprises to do business with multinationalcompanies via connecting and supporting activities during show days.
Also, it will be the industry’s connecting hub where over 10,000industrial part-making factory owners, engineers and industrialists can gatherto discover new solutions and partners via special activities offered atexhibitor’s booths, he said.
The two expos are taking place until Friday at Hanoi InternationalCentre for Exhibition./.
VNA
