Fastener Shanghai
fastenerfastenerBuyers' Guidefastener
fastenerStandard Searchfastener
fastenerFor Buyersfastener
fastenerFor Suppliersfastener
fastenerTrade Showsfastener
fastenerMy Officefastener
fastenerPost Inquiriesfastener
Home->Fastener News->Seizing the international demand from providing pr...You are the 551335 visitors
Views:3834   |   recommendation:   |   Votes:0   |   Discuss:0
Seizing the international demand from providing products of high quality localization

HANOI, Feb 2016 – Year 2016 marks the important milestone for Vietnam on the international economic arena with the implement of TPP and ACE. Vietnam hits the second position in top 10 fastest-growing economies expected in 2016 (according to Boomberg). There are many new business and investment opportunities, and also the challenge for Vietnam to upgrade and prepare well to develop firmly and stably from now on, rather than the temporary breakthrough just at this particular moment – said, Mr. Duangdej Yuaikwarmdee, Deputy Managing Director and General Manager Vietnam of Reed Tradex Co., Ltd.

While the world’s largest emerging economies including Russia, Brazil and China falter, Vietnam’s steady economic growth at near 7 percent this year will make it being a standout investment country. But despite the fact that there are ample opportunities for investors to Vietnam's market, many small and medium businesses have yet to overcome difficulties in the area of high-quality machinery and equipment, even to the spare parts to catch this chance.
According to a survey of the Japan External Trade Organisation (JETRO), in the supporting industry, although the localisation rate of Japanese enterprises in Vietnam has reached 32.2 percent, up 4.3 percentage points compared with the year before, this level is still low compared to 64 percent in China, 53 percent in Thailand, 42 percent in Malaysia and 41 percent in Indonesia. Mr. Daisuke Hiratsuka, Executive Vice President of JETRO said that “International enterprises when making investments in Vietnam have to encounter huge costs of importing components, which pushes up production costs. Therefore, to become more attractive to the investors and more competitive as well as to prepare for the TPP, AEC and Vietnam’s industrialization in 2020, the development of supporting industries and localization is crucial”.
Reported by Reuters, the Vietnamese government plans to invest a total of 1.72 trillion dong ($77 million) in supporting industries over the next 10 years. About 52% of this — 890 billion dong — will be used to subsidize research and development projects. Launched in January, the initiative is focused on improving the technical capabilities of domestic companies.

Indeed, "In a very competitive global environment, domestic provide ability is king. Some of the world’s biggest manufacturers are already producing in Vietnam such as Samsung Electronics with 10% localization as of last autumn, and Toyota Motor was 19-37%, depending on the car model. Such a delay in localization has caused these investors to import a large amount of components. This year is an important milestone for all the manufacturers and industrialists in Vietnam to update the industrial facts and global trends, upgrade the technology and exchange knowledge to gain the firmly competitive position in the region", said by Mr. Duangdej Yuaikwarmdee, Deputy Managing Director and General Manager Vietnam of Reed Tradex Co., Ltd.

Reed Tradex – an Asean’s leading exhibition organizer has set up a big chance for the event Vietnam Manufacturing Expo by scheduled it in this April to be able seize the golden time when TPP and AEC have taken full effects in the beginning of this year. Vietnam Manufacturing Expo 2016 focuses on machine tools for Mold & Die making and injection technologies for plastics manufacturing. To maximize the business integration and technology exchange, the organizer will bring up 200 brands from 20 countries to present their machine and equipment, including showing up their intention to expand business in Vietnam. This will be the chance for Vietnam industrialists to attend on-site seminar and forum presented by experts from the relevant industry associations, government representatives and the top leading companies, in order to get update more industrial facts and global trends.
Former Ford Vietnam General Director, Laurent Charpentier said that “To increase the localization, the role of supporting industry is extremely important, there is a necessity of quality spare parts manufacturers, parts supply and assembly businesses”. Vietnam Manufacturing Expo 2016 is one of the notable events for industrialists in Hanoi to have an objectively look on current market demand, as well as directly sharing the practical experience to contribute to the implementation of the essential strategies in the near future to improve production ability, as well as meet specifications request from foreign partners.

“Vietnam Manufacturing Expo 2016” will be co-located with “Sheet Metalex Vietnam 2016” which is Vietnam’s only sheet metal fabrication technology and machinery exhibition on 06-08 April, 2016 at Hanoi International Center For Exhibition (I.C.E.), Hanoi, Vietnam. For more information at:

Source: Vietnam Manufacturing Expo

2016/3/14 9:42:00

Previous:    Dongtai Huawei: Your One-Stop Supplier of Stainless Steel Fasteners
        Next:    Alcoa Names Fastener Segment Parent Company

Recent Related News
New at wire 2020 in Düsseldorf: Special exhibition areas for Fasteners and Springs--2018-12-06
International Fastener Expo 2018 Expanded Conference Schedule Produces Top Attendee Experience--2018-11-16
indometal 2018 – continues to gain momentum as the gateway to global technologies for the metal & steel industries--2018-11-15
21st Manufacturing World Osaka: Breaking its records! - 1,233 Exhibitors & 38,673 Visitors --2018-11-09
METALEX Vietnam 2018: Five Mega Exhibitions Attract a Huge Number of Industrialists--2018-10-26
The 19th Fastener Trade Show Suzhou - China's leading one-stop purchasing platform for fasteners, machinery and supporting products--2018-10-19
Global Fastener Exhibitions (Sept-Dec 2018)--2018-08-28
Manufacturing World Osaka 2018 Show Preview: World's Leading Manufacturing Industry Show Breaking Its Records!--2018-08-23
Hall of Fame at the International Fastener Expo Announced--2018-08-23
Fastener Shanghai – Shanghai Fastener & Tech Show 2018 Preview--2018-07-27
29th Manufacturing World Japan Breaking its Records!--2018-07-24
Powerful Metal Trade Fair Trio on the Indian Subcontinent: wire India, Tube India and Metallurgy India--2018-07-05

Vote for this news?

fastener(Very Good)
fastener(Very Bad)

More Discuss...
Your Name: Anonymous

Enter the code shown:fastener0fastener

Fastener Trade Show Suzhou

China Fastener Directory
Get it FREE!
Get your CFD at the following shows:

•M-Tech Tokyo, Feb 6-8, 2019, Tokyo, Japan

•WIN EurAsia, Mar 14-17, 2019, Istanbul, Turkey

•Fastener Fair Stuttgart, Mar 19-21, 2019, Stuttgart, Germany

Show Room

Offer Product

Latest News
• Steel sector to remain resilient in 2019, says expert

• Taiwan’s Hand Tools Export is Expected to Reach New High

Buyers' Guide
Company News

• YuYao No. 2 Standard Fastener/YuYao Biaoer: A Reliable Partner For Eyebolts

• Donglong Metal Mold Machinery: Focus on Quality, Talents and Brand

The Way to Enter Chinese Market
The Way to Enter Chinese Market