The conference on machine tool industry of Taiwan in HCM City. — VNS Photo
With over 60 years of experience, Taiwanese machine tool companies are targeting to expand operations in many countries, including Viet Nam, where demand in the industry is increasing.
Jen-Ni Yang, director general of the Bureau of Foreign Trade at the Ministry of Economic Affairs, said that the Taiwanese machine tool industry has been playing a key role in the global market.
The Taiwanese companies make industrial machines mostly for export.
“Eighty per cent of Taiwan’s total machine tool turnout, valued around $4 million annually in the past three years, is exported to more than 138 countries, making Taiwan the fifth largest machine tool export country behind Germany, Japan, Italy and China,” Yang said.
In the 4.0 industrial revolution, machine tools will be indispensable, with Taiwan developing into a global manufacturing hub.
To gain entry to the Vietnamese market, the Taiwan Trade Centre (TAITRA) and Corporate Synergy Development Centre jointly organised a pavilion at the Machine Tools and Metalworking Exhibition and Conference, which is being held in HCM City.
At the pavilion, many leading companies in the machine tool industry of Taiwan are showing the latest, advanced technologies in an aim to approach the Vietnamese market as the demand has increased in the country.
Companies including Tongtai Group, Yeong Chin Machinery Industries Company Ltd and Hiwin Technologies Corporation have introduced new items used in the auto industry and virtual reality as well many new technologies, including intelligent transmission components and robotic arms.
“The Taiwanese machine tool industry has developed for over 60 years. The industry has a complete supply chain with high-quality products and services,” said Chang Shiao Chien, deputy director of the market development office under TAITRA.
She said the Taiwanese machine tool industry in addition to its information technologies would help Vietnamese companies diversify the machines tools market.
During the event, a conference named “Taiwan Machine Tools – Shaping the World” was organised.
At the conference, Taiwanese companies introduced their key products which they said “have high-quality, competitive price and good service” that will help Vietnamese companies’ production growth.
Gong Rong Nan, head of TAITRA, said Taiwan is now the fifth largest trade partner of Viet Nam. It also remains the fourth biggest investor in the country.
Last year, bilateral trade reached US$12 billion.
Since the beginning of this year, Taiwan export revenue earned in Viet Nam has been $4.9 billion, an increase of 11 per cent year-on-year. Taiwan in this period poured $1 billion in imports from Việt Nam.
About 4,000 companies from Taiwan are investing in Viet Nam. They mostly operate in the industries of garments, textiles and machinery. — VNS