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This is the information that Mr. Takeo Nakajima, chief representative of Japan External Trade Organization (JETRO), made at the press conference and signed a cooperation agreement to announce the organization of the tenth Vietnam-Japan Supporting Industry Exhibition (SIE) in Hanoi and the 14th “Vietnam Industrial Spare Parts Manufacturing Technology Exhibition (VME)” on June 20th.

In the last decade (2013-2022), Japan’s trade value with Vietnam has almost doubled, said Jetro’s main representative. Direct investment from Japan in Vietnam in 2022 increased by 12% compared to the previous year and amounted to US$4,559 million.

For Vietnam, Japan is a very important partner, ranking third in terms of cumulative value and second in terms of the number of investment projects.

According to a survey by Jetro, the share of Japanese companies buying raw materials, components and spare parts in Vietnam has increased from 28% 10 years ago to 37% in 2022. Although this rate has increased, it is still very slow compared to the economy development of the two countries.

Ông Takeo Nakajima, main representative of Jetro, spoke at the Báo meeting.
Mr. Takeo Nakajima, Jetro’s main representative, made the announcement at the press conference.

Meanwhile, Mr. Vu Ba Phu – director of the Trade Promotion Department (Ministry of Industry and Commerce) said that there are currently about 2,000 companies producing spare parts and components in Vietnam, but only about 300 companies are involved in the chain. Multinational supplier creating jobs for more than 600,000 workers. The number of companies active in the supporting industry currently accounts for almost 4.5% of the total number of companies in the processing and manufacturing industry.

With the initiative to improve the localization rate, Jetro has been organizing the Vietnam – Japan Supporting Industry Exhibition (SIE) in Hanoi and Ho Chi Minh City alternately since September 2003 with the cooperation and support of the Vietnamese government.

This year, the SIE booth area will be attended by 22 Japanese exhibitors who want to buy goods from local Vietnamese manufacturers.

28 companies were selected to participate as Vietnamese exhibitors. Most of the selected companies, which are potential supporting industry manufacturers, will participate in the exhibition of their products and will present their supply capabilities at the exhibition.

Mr. Takeo Nakajima said that nowadays not only Japanese companies but all foreign investors are interested in the automation process in manufacturing and supporting industries.

“Can Vietnam change in time, bring about breakthrough changes and help Vietnam become a major industrial manufacturing hub in the region? How can companies learn from each other to keep up with the digital transformation and artificial intelligence trends that are gradually dominating the market?” asked Mr. Takeo Nakajima.

Vu Trong Tai, General Manager of RX Tradex Vietnam, added, “Vietnam has emerged as an alternative manufacturing base to China for global semiconductor manufacturers, serving as a launching pad for industrial development and technology, particularly new areas such as artificial intelligence.”

For Vietnam to become a manufacturing hub in Southeast Asia, companies in the sector and supporting industries must work together to build a partner network and business distribution, while promoting the inclusion of growth supporting industries, creating coverage and strong participation in the global supply chain.

One of the best trade promotion activities is participating in international exhibitions, an important trade bridge for manufacturers to discover and update new and necessary solutions and technologies to meet their needs. Meet current production needs and look for potential business opportunities in the future.

For foreign investors, the exhibition is a very suitable opportunity to connect with suppliers and domestic consumer markets, and help to learn more about import and export needs and trends in the use of equipment. Equipment and solutions for manufacturing industrial components.

The 10th Vietnam-Japan Supporting Industries Exhibition (SIE) in Hanoi and the Vietnam International Manufacturing Technology Exhibition of Industrial Parts (Vietnam Manufacturing Expo – VME 2023) will be held from August 9 to 11, 2023 at ICE instead of Hanoi Exhibition Center.

This year’s dual exhibition is expected to attract more than 200 exhibitors, suppliers and distributors of advanced machinery from nearly 20 countries and more than 10,000 visitors who are machinery and equipment manufacturers. Equipment, components, industrial spare parts, machining, automation solutions, and other related fields.

In particular, two pavilions with two new areas will be on display for the first time at this exhibition: Industrial Connections – Fastener Fair Vietnam and Logistics and Finishing – ViMAT.

Various activities will be organized during the three-day exhibition to help companies and visitors to get in touch with distributors, wholesalers and business partners.

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By Martine

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