Wednesday, October 20 2021

VietNamNews

First supporting industry and manufacturing exhibition opened

Update: December, 09/2020 - 18:56
Visitors at a booth of Hà Nội Plastics JSC's under An Phát Holdings. Many Vietnamese firms in supporting industry have joined into global supply chains. — VNS Photo Vũ Hoa

HÀ NỘI — More than 170 businesses with 250 booths are attending the Việt Nam International Supporting Industry and Manufacturing Exhibition (VIMEXPO) that opened in Hà Nội on Wednesday.

Organised by the Việt Nam Industry Agency under the Ministry of Industry and Trade and C.I.S Việt Nam Company, the three-day first of its kind exhibition aims to provide feasible solutions to promote development of Việt Nam’s supporting industries. The exhibition has gained much attention from the Government, organisations, as well as local and foreign firms.

Speaking at the opening ceremony, Minister of Industry and Trade Trần Tuấn Anh said: “During the industrialisation process, supporting industry and manufacturing have always been a focus of Việt Nam. In the country’s deep integration, opportunities from free trade agreements (FTAs) have brought a foundation and an important pre-condition for Việt Nam’s sustainable development and industrialisation.”

The event has seen participation of many important sectors with leading firms both inside and outside the country such as Samsung, Thaco, Toyota, ABB, An Phát Holdings.

This has been an opportunity for businesses to co-operate for joining in new supply chains. In addition, associations, organisations and agencies could have an insight in building policies to facilitate the businesses in the supporting industry and manufacturing.

Kyle Kelhofer, IFC Senior Country Manager, Việt Nam, Cambodia and Laos said: “Việt Nam’s manufacturing has been growing very fast, becomes one of the main contributors to Viet Nam’s GDP in recent decades and is the largest sector within Việt Nam’s economic structure. Manufacturing comprises the largest share of the country’s export (80 per cent share) and accounts for 20 per cent of GDP.”

“IFC is proud, together with tour development partners, Swiss Secretariat for Economic Affairs (SECO) and UK Prosperity Fund for accompanying Việt Nam’s supporting industry the last four years to help upgrade Việt Nam suppliers’ capacities so they can join and move up in the global value chains. The suppliers who participate in the Việt Nam Supplier Development Programme by the Industry Agency in partnership with IFC, Swiss SECO and UK Prosperity Fund are presented at this exhibition today to show the results and improvements under the pilot SDP.”

Ivo Sieber, Ambassador of Switzerland to Việt Nam, said with the signing of trade agreements, Vietnamese businesses have many opportunities to access and participate in the global supply chain. However, many domestic enterprises do not fully meet standards set by international companies, especially quality and sustainability.

Switzerland can support and commit a strong partnership with Việt Nam in capacity building for Vietnamese businesses, improving product quality for better integration into the global value chain, he said.

The event is expected to attract some 15,000 visitors. The ministry would also organise two conferences on Việt Nam’s supporting industry - potential and opportunity and opportunity and challenges when joining the global supply chain.  — VNS

 

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