A view of the outside area of MTA Hanoi 2024. — VNS Photo

HÀ NỘI — The 10th International Precision Engineering and Manufacturing Reinvented Exhibition - MTA Hanoi 2024 officially started on Wednesday at the Hanoi International Exhibition Centre.

The three-day MTA is an international exhibition series focused on precision engineering and manufacturing organised by Informa Markets, a global leader in organising worldwide trade exhibitions under Informa PLC.

In his opening remarks, William Lim, brand director of event organiser Informa Markets, said MTA Hanoi 2024 will showcase advanced and international technologies to meet the growing demand for equipment and machinery in the industrial zones across Hà Nội and northern Vietnamese provinces.

This year’s MTA Hanoi 2024 will occupy an exhibition area of 4,000sq.m with more than 6,000 expected visitors. The event gathers over 90 exhibitors from 13 countries and regions, including China, Germany, Hong Kong (China), India, Japan, Singapore, South Korea, Switzerland, Taiwan, Thailand, the US and Việt Nam. This year’s MTA Hanoi will feature a technology display dedicated to automation and robotics called the Vietnam Industrial Robotics and Automation Event (VINRA).

Also at the event, Dr Lê Kỳ Nam, Vice President and General Secretary of the Vietnam Association of Mechanical Enterprises (VAMI), highlighted the significance of the MTA Hanoi exhibition for the Vietnamese mechanical industry. Nam described it as a prestigious event that showcases technological advancements and the sector's growth. In 2024, the exhibition will play a critical role amid new challenges and opportunities stemming from digital transformation, Industry 4.0 and deepening international collaboration. Dr Nam emphasised VAMI's commitment to supporting mechanical engineering businesses in market expansion and facilitating technology transfer from global partners. MTA Hanoi serves not only as a platform for demonstrating modern technology but also as a hub for networking, knowledge exchange and collaborative opportunities.

Visitors view a booth at MTA HANOI 2024 which opened on October 2 in Hà Nội. — VNS Photos Viet Thang

Domestic manufacturing

Việt Nam's economy continued to make positive strides in the first eight months of this year. The Industrial Production Index (IIP) for August 2024 is estimated to have increased by 2 per cent compared to the previous month, and by 9.5 per cent compared to the same period last year. Overall, the IIP for the first eight months of 2024 is estimated to have grown by 8.6 per cent. In particular, the manufacturing and processing sector remains the foundation and driving force behind the economy’s growth, with a 9.7 per cent increase contributing 8.4 percentage points to the overall rise, according to the General Statistics Office.

In 2023, the manufacturing and processing industry attracted over US$23.5 billion in FDI, accounting for 64.2 per cent of total registered FDI capital in Việt Nam, a 39.3 per cent increase compared to 2022. This made it the largest FDI-attracting sector among the 18 economic sectors with foreign direct investment. It is also worth noting that processing and manufacturing was the sector with the largest number of newly-registered projects (33.7 per cent) and capital adjustment (54.8 per cent), reported by General Statistics Office. The strong FDI inflow into this sector shows that foreign investors continue to have confidence in Việt Nam's potential and its favourable business environment.

Many northern provinces have seen recent breakthroughs in the growth of their manufacturing and processing industries. For example, Quảng Ninh aims to achieve an average annual added value growth rate of 17 per cent in this sector by 2025, with a total investment target of over VNĐ50 trillion. Hưng Yên is focusing on developing high-tech industrial products, with a vision for producing 1,000 to 1,200 mechanical parts and metal components, and 250 to 300 tonnes of steel products by 2030. Vĩnh Phúc, in its provincial planning for 2021-2030, has set a goal for mechanical manufacturing, assembly and metal production to become a foundational industry. — VNS