A booth featuring products of the Measurement Equipment Business Joint Stock Company at the 3rd Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO 2022) which was opened on Wednesday. — VNA/VNS Photo Trần Việt

HÀ NỘI — Việt Nam is becoming more well-known for its supporting and manufacturing industries, especially as the world needs to diversify supply chains due to the impact of the COVID-19 pandemic.

According to experts, many international corporations and businesses have expressed their desire to approach and associate with Vietnamese industrial enterprises. 

To create this connection, in addition to improving their technology and production capacity, domestic processing and manufacturing enterprises were in need of more support from the State in terms of capital and technology, they said.

At the third Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO 2022), Nguyễn Vân, deputy chairman of the Hà Nội Association of Supporting Industry Enterprises (HANSIBA), said the supporting and manufacturing industries in Việt Nam are developing quickly and attracting the interest of many foreign partners.

He added: “Việt Nam is an attractive investment destination for businesses to invest in.”

"This event is an opportunity for businesses to approach and find foreign partners, thereby participating more deeply in the production supply chain of many large corporations and enterprises."

According to the chairman of Toyota Motor Vietnam (TMV), the exhibition will connect more international and Vietnamese manufacturers, thereby helping them to expand the supplier network. Through previous events, Toyota Vietnam has connected with more than 20 potential suppliers, one of which has become the official supplier for TMV.

"We are launching new products assembled in Việt Nam as part of efforts to increase the ratio of domestically-made products. TMV hopes to connect with more local potential suppliers, thereby contributing to the rapid development of the supporting industry in Việt Nam," he said.

Vũ Hồng Quân, CEO of QMS Technology Co., Ltd., told local media: “The enhancement of technology and management in enterprises is very important as it is the determining factor to boost the capacity and professionalism of Vietnamese enterprises, which help them to approach foreign partners from Singapore, the UK, Australia, and the US.”

Chairman and General Director of Intech Group Hoàng Hữu Thắng said: “Enterprises must choose whether they wait for partners to come to improve technology and quality to meet demand or find ways to improve the position and quality of the business first to be more convenient in finding partners.”

Thắng said: "Product quality, professionalism, cost, and management level have to be improved internally, which will be a basis to reach higher production level and link with foreign partners."

Thắng said the Government's support policies related to industrial development, processing and manufacturing were adequate. In the future, more exhibitions and product introduction events are needed for businesses to have the opportunity to meet and connect with each other. In addition, policies on loans and incentives in research and development of new technologies should be implemented.”

Nguyễn Quý Tính, director of An Hòa Equipment and Technology Solutions Co., Ltd., said for small and medium-sized enterprises, the cost to attend international exhibitions must also be considered, so State-supported exhibitions were very practical for businesses. 

Thomas Jacob, International Finance Corporation (IFC) country manager for Việt Nam, Cambodia and Laos, said that assisting manufacturing enterprises and supporting industries to shift from low-cost production to higher value segment production and increased access to digital technology will help boost production efficiency and enhance connectivity with foreign businesses and global value chains, thus, improving the competitiveness of local businesses

The three-day VIMEXPO 2022 exhibition is organised by the Ministry of Industry and Trade (MoIT), the Center for Industry Development Support in collaboration with the Advertising and Exhibition Company CIS Vietnam. — VNS