Vietnam’s Supporting industry – Opportunity to welcome the wave of shift from abroad
The 4th Vietnam International Supporting Industry and Manufacturing Exhibition – VIMEXPO 2023 with the goal “Connect to develop”, directed by Ministry of Industry and Trade, hosted by Industrial Development Center – Vietnam Industry Agency – Ministry of Industry and Trade, organized by C.I.S Vietnam Advertising & Exhibition JSC., is officially coming back from November 15th to 17th, 2023 at Hanoi International Exhibition Center – I.C.E Hanoi.
Industrial production in general and supporting industry in particular play a pivotal role in the development of the economy. With the attention and promotion of support in terms of mechanisms and policies, Vietnam’s supporting industry has achieved favourable outcomes. Resolution 50-NQ/TW of the Politburo on orientations towards improvement of regulations and policies to enhance the quality and efficiency of foreign investment cooperation by 2030 provides orientations to attract foreign investment capital, which focus on large-scale projects with localization needs in order to promote the development of domestic supporting industry. With certain advantages in terms of economy – politics, Vietnam is becoming a promising destination to welcome this wave of shift. The fact that a series of leading enterprises choose Vietnam to invest in new production bases has provided the supporting industry with great opportunities to develop and participate more deeply in the global value chain.
In order to promote the development of domestic supporting industry, economic experts believe that it is necessary to strengthen the connection between foreign-invested enterprises and the sector of domestic enterprises. In fact, currently domestic enterprises are still quite hesitant to approach foreign-invested companies, some enterprises only consider foreign-invested companies as competitors, and they have not proactively sought opportunities to cooperate with foreign companies. Therefore, in order to promote the linkage between these two business sectors, it is essential to enhance the role of the State as a bridge in building appropriate joint venture models, encourage and increase the roles and responsibilities of foreign-invested enterprises in supporting and connecting with domestic enterprises. Besides, domestic enterprises themselves must have breakthroughs in source technology, high technology as well as improve the quality of human resources, in order to have enough strengths to closely cooperate with foreign companies, and become an important link in the global value chain.
Mr. Pham Tuan Anh – Deputy Director of Vietnam Industry Agency (Ministry of Industry and Trade) said, “Regarding the short-term solution, Ministry of Industry and Trade has been promoting investment in domestic and foreign markets to find markets for supporting industry enterprises. In the long term, we will continue to advise the Government to promulgate policies to improve the mechanism and attract investment in the supporting industry to increase the localization rate in the country, and concurrently establish supporting industrial zones and clusters with the presence of leading enterprises and provide services for those industrial zones and clusters to develop a complete ecosystem, helping businesses feel confident to invest in this field”.
Following the success of previous exhibitions, The 4th Vietnam International Supporting Industry and Manufacturing Exhibition – VIMEXPO 2023, directed by Ministry of Industry and Trade, hosted by Industrial Development Center – Vietnam Industry Agency – Ministry of Industry and Trade, organized by C.I.S Vietnam Advertising & Exhibition JSC., will officially return from November 15th to 17th, 2023 at Hanoi International Exhibition Center – I.C.E Hanoi. It is expected that the scale of VIMEXPO 2023 will be 7000 sqm, with around 300 booths of about 250 domestic and international exhibitors. At the exhibition, companies will introduce products in 4 main sectors: Automobile Manufacturing and Assembling, Electronics, Hi-tech industry, Mechanical Fabrication Sector, and related industries. The exhibition is the opportunity for Vietnam’s supporting industry to integrate and develop, a bridge for domestic and international supporting industry enterprises to network, exchange experience, introduce products, expand cooperative relationships, access high-tech facilities, world-leading advanced supporting industry achievements to improve production capacity, etc. Accordingly, the exhibition creates opportunities for supporting industry enterprises to become suppliers and participate in the supply chains of companies manufacturing and assembling final products.
VIMEXPO 2023 with the goal “Connect to develop” will continue to cement its position as the leading prestigious exhibition of the Manufacturing and Supporting industries in Vietnam, a bridge helping Vietnamese supporting industry enterprises step-by-step participate more deeply in the global production chain. During 3 days from November 15th to 17th, 2023, the exhibition is expected to attract about 15,000 visitors to come and work directly.
For detailed information, please contact:
Industrial Development Center – Vietnam Industry Agency – Ministry of Industry and Trade
Address: 655 Pham Van Dong, Co Nhue 1, Bac Tu Liem, Hanoi
Contact person: Ms. Le Minh Trang
C.I.S Vietnam Advertising & Exhibition Joint Stock Company
Address: 112 – A3 Dam Trau, Hai Ba Trung District, Hanoi
Tel: +84-24.39844.104/05 * Fax: +84-24.39844.108
Contact person: Ms. Quynh Huong