If Viet Nam is not ready now to boost development of its supporting industry, the country will lose its competitive advantage.— File Photo

HCM CITY (Biz Hub) – Viet Nam has no time to lose in strengthening its support industry because its continued competitiveness depends on it, experts say.

They said that local spare parts manufacturers should focus more on improving product quality to meet the demand of foreign companies in Viet Nam and to expand their reach to overseas markets.

The ASEAN Economic Community, which is expected to come into being in 2015, will open new markets and channels of distribution, and create more opportunities for intra-Asean sourcing of goods and raw materials.

Therefore, if Viet Nam is not ready now to boost development of its supporting industry, the country will lose its competitive advantage, said Duangdej Yuaikwarmdee, deputy managing director of the Thailand based Reed Tradex Company.

To stay competitive, local companies must also invest in modern technology, he said.

Exhibition and trade shows should be seen as opportunities for local parts producers to update their technologies as well as their management capacities to sharpen their competitive edge, he said.

To this end, domestic producers should participate in the Viet Nam Manufacturing Exhibition in Ha Noi and the Metalex Viet Nam 2013 in HCM City, he added.

Murata Boy will perform at the three-day Viet Nam Manufacturing Expo in Ha Noi. — VNS Photo

Participation in these exhibitions will enable local businesses increase product quality to better met strict standards of foreign manufacturers and introduce products to foreign clients. It will also enable foreign buyers to discover reliable parts producers, he said.

One of the co-organisers, the Japan External Trade Organisation (Jetro), will invite at least 50 local manufacturers to join the show.

At the Viet Nam Manufacturing Expo in Ha Noi, held September 4-6, a delegation of 400 Japanese manufacturers will seek business partners. This is the biggest Japanese business group to visit an exhibition in Viet Nam, Yuaikwarmdee said.

The exhibition will also see the ASEAN debut of Murata Boy, a pint-sized, self-balancing, bike-riding robot.

At the Metalex 2013 show this October in HCM City, "for the first time, we have had to expand the display area to outside the hall for lack of space."

The exhibition will have nine national pavilions including Viet Nam, Japan, Korea, China, Thailand, India, Taiwan and Germany; as well as a "Star Pavilion" where eight leading foreign brands will exhibit "high quality, the most advanced technology that is also most suitable for local manufacturers."

Apart from the trading section, engineering master classes will be held where "gurus" will teach local firms some new things and give tips on enhancing product quality, he said.

Co-organised by Reed Tradex, Jetro and the Trade Promotion Centres, in Ha Noi and HCM City, the exhibitions are expected to attract a total of 700 local and foreign firms. -- VNS