Photo taken a booth at the Viet Nam Manufacturing Expo 2016. — VNS Photo

HA NOI (Biz Hub) — The plastics and mould-making industries have become an indispensable sector in Viet Nam's economic structure, Duangdej Yuaikwarmdee, deputy managing director and general manager Viet Nam, of Reed Tradex Company, said.

In his speech at the opening ceremony of Viet Nam Manufacturing Expo 2016 yesterday in Ha Noi, Yuaikwarmdee said the two sectors have also played an important role in the development of the manufacturing and support industries.

Still in the early stages of development, the industries required various elements that would constitute a promising future, including suitable machinery and technology, up-to-date knowledge and know-how, and essential infrastructure, in addition to personnel development, and extensive networks of industrialists who possess more power of negotiation, he said, and added that these could be found at the Viet Nam Manufacturing Expo 2016 and two other related shows.

Hosted by Reed Tradex, Viet Nam Manufacturing Expo 2016 is the 8th edition of the international exhibition which focusses on machine tools for mould and die-making and injection technologies for manufacturing of plastics. The three-day event witnesses the participation and presentation of manufacturing machinery and technology for support industries by 200 brands from 20 countries.

Also, playing a supporting role throughout the on-going expo, "Industrial Components and Subcontracting Viet Nam 2016" promises to match-make local spare parts makers with overseas buyers in a profitable networking platform, while "Viet Nam Sheet Metal 2016" encompasses all core sectors of the sheet metal working process to forge out new possibilities and opportunities in the most dynamic and vibrant marketing platform for the sheet metal industry in Viet Nam.

Thai Ambassador Manopchai Vongphakdi said that many small and medium Thai enterprises were developing their activities in Viet Nam to obtain more shares in this potential market.

During the past two months, Thai businesses had invested US$7.88 billion in 428 projects in Viet Nam, ranking 11th out of 112 foreign investors in the country. Their investments focussed primarily on the processing and manufacturing industry with 220 business ventures valued at nearly $7 billion, accounting for 47 per cent of the total number of projects, and 88 per cent of investment capitals.

Among more than 200 brands from 20 countries at Viet Nam Manufacturing Expo 2016, the machinery and technology segment from Thailand would make a name for itself as it was able to enhance manufacturing productivity, augment precision in production, and reduce cost.

The ambassador believed that when equipped with the right tools, opportunities, and networks availed from this exhibition, Vietnamese plastics manufacturing and mould making industries would quickly transform and upgrade themselves to be celebrated the world over.

Nguyen Nham, general director of Welding Technology and Equipment Company, told Viet Nam News that the events would create opportunities for participating enterprises to update to the latest technology, advertise their products and seek new customers.

On an average, his company could meet with 300 to 400 customers during the Viet Nam Manufacturing Expo which it has joined for the fourth time, Nham said. – VNS