Viet Nam’s mechanicsindustry attracts foreign firms

Tuesday, Oct 16, 2018 16:05

Visitors at the 6th International Precision Engineering, Machine Tools and Metalworking Exhibition & Conference (MTA HANOI 2018). — VNS Photo Vu Hoa

More than 75 per cent of exhibitors attending the 6th International Precision Engineering, Machine Tools and Metalworking Exhibition & Conference (MTA HANOI 2018), which opened in Ha Noi on Tuesday, come from foreign countries such as the US, UK, South Korea, China and Taiwan. This demonstrates the attractiveness of Viet Nam’s mechanics sector, the organiser said.

BT Tee, organiser and general manager of UBM VES, said Viet Nam has signed many multilateral and bilateral trade agreements. The greatest impact of these agreements on the production area is to help reduce investment costs, thereby encouraging investment from the private sector.

“These are the reasons why foreign businesses are more and more concerned about the country’s mechanical market,” he said.

He added that the the size of the industry in the south is double that of the north. However, HCM City has focused on slow-growing traditional industries, while Ha Noi concentrated on the electronics industry and information technology.

The capital city has a growth rate double that of HCM City, although the scale is only half. This indicates high efficiency in investment in the northern market.

However, he said the country’s mechanics sector has faced challenges of improving its technologies to meet with increasing outsourcing and production demand.

The Fourth Industrial Revolution has pushed the mechanics sector to a higher level with new smart equipment such as robots and 3D printing machines with outstanding characteristics.

The exhibition therefore brings leading firms with advanced machines and equipment to the northern market, he added.

Covering an area of 4,300sq.m, the event attracted some 165 firms from 15 countries and territories.

MTA HANOI 2018 will also have seminars, interactive workshops and panel debates on some of the current issues affecting the manufacturing and precision engineering sectors, including forums on Industry 4.0 technology, blockchain and OT security system. — VNS

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