A booth at the Sourcing Fair for Supporting Industry with Buyers held in HCM City on September 17. — VNS Photo Xuan Huong
Many supporting industry firms have managed to identify business opportunities at the Sourcing Fair for Supporting Industry held in HCM City on September 17, a HCM City industry and trade official has said.
Bui Ta Hoang Vu, director of the city Department of Industry and Trade, was speaking to the media on the sidelines of the annual fair that seeks to bring together foreign manufacturing firms in the country and Vietnamese supporting industry firms.
“The number of supporting industry firms and the quality of their products have improved year by year with an increasing number joining the supply chains of foreign-owned firms.”
The event this year attracted 14 foreign manufacturing companies in the electronics, mechanical engineering and hi-tech medical sectors, including Samsung Electronics, Remote Solution, Techtronic Tools, Panasonic, Bosch, Juki, Towa Industrial (Viet Nam) Co.Ltd, and Won Seal Tech.
They displayed more than 400 component and part clusters for which they sought suppliers.
Nearly 60 Vietnamese-owned parts manufacturers took part and there were more than 250 business-to-business meetings arranged between them and buyers, Nguyen Phuong Dong, deputy director of the department, said.
The event also included a visit to foreign firms to enable local small and medium-sized supporting industry firms to learn about mass manufacturing management for the global value chain, he said.
Marie C Damour, the US consul general in HCM City, said: “We can see a new wave of shifts in global supply chains due to COVID-19. Vietnamese enterprises should be more adaptive and resilient to this situation.
“First, they should clearly understand the expectations and requirements of lead firms. Second, they should strengthen their production capability and be more flexible to actively seize new market opportunities.
“This event is a good opportunity for Vietnamese supporting enterprises to meet lead firms face-to-face and build business relationships with them. It especially empowers Vietnamese supporting industry enterprises to showcase their products and prove their capability to be high value-added suppliers for lead firms.”
Speaking at the opening ceremony, Duong Anh Duc, vice chairman of the city People’s Committee, said the city has taken many practical measures to help supporting industries, improve their production activities and competitiveness and expand their market.
“Helping Vietnamese manufacturing enterprises link up with foreign investors is an activity of practical significance that helps them grab market opportunities and gradually join the global supply chain, creating motivation for SMEs to innovate.”
Vu said this was the third time the event was held, and like previous editions attracted great interest from both foreign-owned and Vietnamese enterprises.
It is organised by the city Department of Industry and Trade, the Saigon Hi-Tech Park and the HCM City Export Processing and Industrial Zones Authority. — VNS