Some Vietnamese enterprises that produce spare parts have a quite good capacity in fields of moulds manufacturing, standard mechanical components, plastic components and technical rubber, suitable for the needs of many Japanese firms.

Vietnamese Trade Counsellor in Japan Ta Duc Minh made the statement at a teleconference on trade promotion between Viet Nam and Japan in support industries on Tuesday.

The event was held by the Tokyo Metropolitan Small and Medium Enterprise Support Centre, the Vietnamese Trade Office in Japan, and the Ministry of Industry and Trade (MoIT). Companies from six localities in Viet Nam participated in the event including Ha Noi and HCM City, as well as Bac Ninh, Dong Nai, Hung Yen and Long An provinces.

It aimed to help businesses popularise products and seek co-operation opportunities amid the complexities brought about by COVID-19.

Minh said the two countries’ co-operation in support industries has yet to match potential.

The added value of Vietnamese companies remains modest, he said, urging them to invest in research and development and modern equipment.

Uchida Tomoko, business strategy director of the Tokyo Metropolitan Small and Medium Enterprise Support Centre said many Japanese companies are expanding their operation in Viet Nam.

She said she expected that firms of the two countries could find business opportunities in the support industry sector through the conference.

Le Hoang Tai, deputy director of MoIT’s Viet Nam Trade Promotion Agency, said developing the support industry has been given priority by the Government, thus accelerating industrialisation and modernisation.

Japan is Viet Nam’s third-largest trade partner, with two-way trade reaching US$15.6 billion in the first five months of this year, up 2.2 per cent against the same period last year, despite the impact of COVID-19.

Viet Nam’s exports to Japan during the period stood at $7.83 billion while imports totalled $7.77 billion. — VNS