A booth displaying industrial parts at the 2019 Vietnam Supporting Industry Fair, which is being held along with the Vietnam International Machinery Fair in HCM City from December 11 to 14. — VNS Photo

HCM CITY — The 2019 Vietnam International Machinery Fair and 2019 Vietnam Supporting Industry Fair opened in HCM City on December 11, offering opportunities for companies in the manufacturing and supporting industries to compare notes and explore business opportunities.

Phạm Thành Kiên, director of the city Department of Industry and Trade, said the two fairs feature 300 exhibitors from 12 countries and territories, including South Korea, Thailand, Japan, Singapore, the US, UK, China, Germany and Việt Nam.

Thirty per cent of the 460 booths are displaying supporting industry products produced by Vietnamese companies and metal products and metalworking solutions, 25 per cent are showcasing automation solutions and motion control systems, industrial materials and components, and construction machinery, and the rest have factory and electrical equipment, he said. 

There would also be specialised seminars, field visits and business-matching events to update participants on the top international trends and technologies, and offer business opportunities, he said.

Speaking at the inauguration, Nguyễn Thành Phong, chairman of the city People’s Committee, said: “The city has been focusing on the development of processing and manufacturing industries to produce supporting products for domestic consumption and export.”

Supporting industries are critical and would be a growth engine for other industries, he said.

The city has in place an investment stimulation programme to boost the development of the manufacturing and supporting industries, which has helped firms invest in upgrading machinery and equipment, he said.

Many companies participating in this programme have started joining global supply chains and some companies such as Hiệp Phước Thành Company and Minh Nguyên Supporting Industries JSC have become suppliers for Samsung, he said.

The city has attractive policies to solicit foreign investment in its supporting industries.

Lim Jae Hoon, the Republic of Korea consul in the city, said: “The industrial machinery and equipment industry is based on the technological capabilities accumulated over many years.  Therefore, it is necessary for countries to co-operate and have exchanges to develop [it].”

The exhibitions would provide both Korean and Vietnamese companies a comprehensive view of the most advanced technologies and up-to-date information about the industries as well as co-operation opportunities, he added.

Organised by the city Department of Industry and Trade’s Supporting Industry Development Centre, the Korea Association of Machinery Industry, Coex Vietnam and the HCM City Association of Mechanical – Electrical Enterprises, the fairs will run until December 14 at the Saigon Exhibition and Convention Centre in District 7. — VNS