The Hanoitimes - The first Factory Network Business Expo opened in Hanoi on February 23, making a chance for Vietnamese and Japanese enterprises operating in the mechanical engineering industry to expand cooperation.
A fair of manufacturing technologies kicked off in Hanoi on February 23, opening an opportunity for Vietnamese and Japanese enterprises working in the mechanical engineering industry to expand cooperation.
Delegates cutting ribbon to open the expo.
Being organised at the same time as the 2017 Japan Parts and Processing Exhibition, hosted by the Japan External Trade Organisation (JETRO), it aims to provide an opportunity for Vietnamese and Japanese businesses to foster exchange and cooperation in the mechanical engineering industry as well as boost the application of advanced technology in the manufacturing sector.
The first manufacturing technologies fair attracted the participation of 138 enterprises, including Japan’s leading groups such Toyota, Canon, Honda, Yamaha, Tamron, and NEC. 28 firms of Hanoi city participated in the event.
According to the survey report by the Japan Bank for International Cooperation (JBIC), Vietnam ranks among the top five countries preferred by Japanese firms for overseas business operations.
Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan visit a booth at the expo opened in Hanoi.
The survey was conducted by sending questionnaires to 1,012 manufacturing companies. From July to September last year, 637 companies returned them with valid responses.
In general, 32.7 percent of respondents chose Vietnam as one of the top five countries that have promising prospects for medium-term business operations, taking the country to the fourth place in the 2016 survey.
In the small and medium enterprises (SMEs) category, Vietnam’s ranking is higher. It holds the second place with the percentage share of respondents (37.1 percent) hitting its highest level in five years, up from the fourth in 2015. Most SMEs engages in labour intensive industries, and Vietnam has advantages in these sectors. In the long-run, Vietnam remains in the fourth place.
Speaking at the opening ceremony, Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan said Hanoi is home to 470 enterprises operating in the support industry, including over 250 mechanical firms, 132 electronic companies and 85 textile firms.
The capital city always attaches importance to developing cooperation with Japan in all fields, especially in the mechanical engineering industry, he said.
The two-day fair aims to help Vietnamese enterprises access high technologies, thus deeply joining global production networks, he noted.
It lays a vital foundation for the two countries’ businesses to foster trade links in the future, he stressed.
Deputy Chairman Toan highlighted that Japan is one of the largest importers of Hanoi with the value of 2.54 billion USD, accounting for 10.2% of its total import.
Translated by Thu Minh
Source: Khac Kien-Kinhtedothi.vn