The three-day events, jointly held by the Ministry of Industry and Trade, Reed Tradex Vietnam, and the Japan External Trade Organisation (JETRO), 200 booths of exhibitors from 20 countries and territories.
According to Deputy Minister of Industry and Trade Do Thang Hai, the support industry plays an important role in improving labour productivity and ensuring economic development.
Although many Vietnamese support industry firms have participated in the global value chain, their management and production capacity as well as technologies are still poor, and have to import a large amount of components for production, he said.
The exhibitions are expected to create an opportunity for Vietnamese and Japanese businesses to meet, promote cooperation and enhance trade connections in the time ahead, thus helping increase the competitiveness of Vietnamese support industry, Hai stressed.
Meanwhile, Hironobu Kitagawa, chief representative of JETRO in Hanoi, said that 70 percent of Japanese enterprises operating in Vietnam have expressed their interest to expand production in the country, and described the Southeast Asian country as an effective and attractive market.
The number of Japanese investment projects in Vietnam hit a record high of 630 in 2018, while Japan’s procurement of Vietnamese components and materials has surged remarkably since 2010.
He said creating chances for enterprises of both sides to boost cooperation is an effective way to serve long-term operation of Japanese businesses in Vietnam.
“The exhibitions aim to develop Vietnam’s support industry, increase the local content, and encourage Japan’s purchase of Vietnamese spare parts”, he highlighted.-VNA
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