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| Isara Burintramart, Reed Tradex's managing director. — VNS Photo |
Reed Tradex, ASEAN's leading exhibition organiser, has been doing business in Viet Nam for 10 years.
Isara Burintramart, the company's managing director, said Viet Nam has become a destination of choice for foreign investors. He spoke to Viet Nam News about the potential of the Vietnamese market and his company's plans here.
With 10 years of experience in organising exhibitions in Viet Nam, how do you see the potential of the Vietnamese market?
According to the ranking of the best countries for investment by the World Bank, after India and Singapore, Viet Nam is considered the best to invest in in 2016. Viet Nam has a favourable geographical location right at the heart of East Asia, which is home to a number of large and vibrant economies.
With increasing disposable incomes, rapid urbanisation and rising living standards, Viet Nam is one of the most dynamic emerging economies in the Southeast Asian region. Retailers, in particular, have also been drawn by its relatively young population of consumers – of whom 70 per cent are aged between 15 and 64 – who promise to be a key driver of market growth.
Additionally, the education system is in a transitional period and is utilising international curriculums to train the new generation of human resources for the future.
With more than 16,300 active FDI projects that have collectively pulled in a total of US$238 billion, Viet Nam has become a destination of choice for foreign investors. Given the positive prospects for both global and regional economies, Viet Nam is expected to see more and more growth of small and medium investment projects to support the main stream of these FDI projects by meeting their demand for parts locally without having to import from overseas.
What changes do you see in Vietnamese companies when they come to source products and technologies at exhibitions?
Manufacturers are investing more in long-term production lines by importing more equipment and machinery, and manufacturing is growing by 10.6 per cent a year.
Indeed, the use of quality machinery and equipment makes it possible for products to meet higher standards and larger demand, and create confidence and trust among partners and investors, enabling long-term ties.
Reed Tradex intends to expand in terms of both scale and content specialised manufacturing exhibitions like Metalex and Nepcon. By bringing a range of global brands from around the world to one event, we aim to provide more options, offer more choices to Vietnamese firms.
Local industrialists can overcome the problems of time and geography and make contact with international partners. At the same time, they can also introduce their manufacturing capabilities, products and components to potential customers from Viet Nam and overseas.
Looking forward, what are Reed Tradex's plans in Viet Nam?
Rising incomes and an emerging middle class are generating growth in consumer-driven sectors in Viet Nam.
There is considerable demand for high- quality as well as lifestyle-oriented products and services. Particularly in urban areas, consumer demand is surging for higher quality products and services that cannot be satisfied by local production.
In future, moving beyond specialised exhibitions involving manufacturing, Reed Tradex is planning to reach out to the field of lifestyle exhibitions and events to better serve the Viet Nam market.
Can you tell us a bit more about Metalex Vietnam 2016 ?
This year, the 10th edition international exhibitions on machine tools and metalworking solutions for production upgrade - Metalex Vietnam - will return to HCM City's Saigon Exhibition and Convention Centre from October 6 to 8.
It will be held together with Nepcon Vietnam, Viet Nam's only exhibition on SMT, testing technologies, equipment, and supporting industries for electronic manufacturing.
The Metalex Vietnam 2016 will be more specialised and focused to bring together local manufacturers and their counterparts from ASEAN and ASEAN+6.
There will be seven international pavilions set up by Japan, Singapore, Korea, India, Thailand, Taiwan, and China, and, in all, over 500 brands from 25 countries.
In addition to showcasing machinery which can answer the needs of producers in Viet Nam, Reed Tradex has set itself a clear mission of bringing exhibitors and visitors close to each other at the exhibition.
To prepare for the show, Reed Tradex has begun to directly meet manufacturers in Vietnam and abroad to get their demands, gather information about products, production capabilities and the need for investment so that it can efficiently carry out the job of business matchmaking. — VNS