RX Tradex Company, JETRO, ITPC, and CSID sign an agreement in HCM City on August 2 to jointly organise two exhibitions on supporting industries in HCM City in October. — VNS Photo

HCM CITY — RX Tradex Vietnam has entered into a partnership with the Japan External Trade Organisation in HCM City, the Investment and Trade Promotion Centre of HCM City and the HCM City Centre for Supporting Industries Development to host the 2024 Supporting Industry Show along with the 2024 Metalex Vietnam in early October.

The collaboration is expected to significantly contributes to the overall growth of Việt Nam's supporting industry. Through the partnership, the parties commit to sharing resources and expertise to create a conducive environment for business development.

Vũ Trọng Tài, general manager of RX Tradex Vietnam,  the organiser of Metalex Vietnam, said: “Việt  Nam is implementing innovative policies vigorously to accelerate production and integrate into the global supply chain."

The country is becoming a focal point for new investments in sectors such as semiconductors, artificial intelligence, and high-tech industries, he said.

"Consequently, our Metalex Vietnam 2024 exhibition is set to continue its pivotal role as a global supply platform, featuring 350 brands from 20 countries, and showcasing the Japan Pavilion along with other national pavilions to provide advanced technologies that meet rising production standards.”

Nobuyuki Matsumoto, chief representative of JETRO's HCM City office, said Việt Nam remains a highly attractive destination for Japanese investments.

A recent survey indicated that 56.7 per cent of Japanese companies in Việt  Nam are planning to expand their operations in the next one to two years, with 47.1 per cent in the manufacturing sector.

The local procurement rate by Japanese firms reached 41.9 per cent last year, up 4.6 percentage points from 2022, the second-highest growth rate among ASEAN countries.

Procurement from Vietnamese suppliers was 17.2 per cent, 2.2 percentage points higher than in 2022, he said.

Looking ahead, 43.2 per cent of Japanese firms expressed their intention to expand local procurement in Việt Nam, significant above the ASEAN average of 28.8 per cent.

JETRO has organised many business-matching events, exhibitions and others to boost co-operation between Vietnamese and Japanese firms in supporting industries in recent years, he said.

The 2024 Supporting Industry Show will feature 18 Japanese firms joining as buyers and 20 Vietnamese companies as suppliers, opening up opportunities for domestic component suppliers to connect with Japanese companies.

The event also provides Vietnamese SMEs with access to advanced Japanese technologies, enhancing their production capabilities and product quality, learning from Japanese management, technical and strategic expertise, thereby increasing their competitiveness globally.

Cao Thị Phi Vân, deputy director of the Investment and Trade Promotion Centre of HCM City, said demand for supporting industries’ products is high and the potential for development these industries is huge.

Within the METALEX Vietnam 2024 framework, the “Supporting Industry Show 2024” is vital for businesses in manufacturing and supporting industries, she said.

It offers enterprises the chance to access the latest machinery, update smart business technologies, explore metalworking solutions, and make production upgrades, she said.

A direct connection and meeting programme will help businesses find potential partners and explore future business collaboration opportunities, she added.

The two exhibitions will be organised from October 2 to 4 at the Saigon Exhibition and Convention Centre and are expected to receive 15,000 visitors. — VNS