Hanoi backs support industries
Vietnam has given priority to developing support industries because they play an important role in industrialisation and modernisation, said the Deputy Minister of Industry and Trade (MoIT) Tran Tuan Anh.
Opening four exhibitions on support industries in Hanoi on September 5, Anh said the State has issued several policies in recent years to encourage technological transfer between local firms and foreign partners.
The expos are the Reed Tradex Manufacturing Expo Vietnam, the fifth Vietnam-Japan Exhibition on Support Industries, the Japanese Monozukuri Technology Exhibition, and the Industrial Components and Subcontracting Vietnam.
They aim to accelerate the expansion of business networks in the country, said managing director of Thailand Reed Tradex Chainarong Limpkittisin.
Purchasing spare parts is one of the major challenges for Japanese enterprises perating in Vietnam, said Jetro executive vice president Daisuke Hiratsuka.
A recent JETRO survey found that their use of local materials and industrial components in Vietnam is lower than other Asian nations.
This means they have to import more materials and components from abroad leading to high production costs.
The four expos will close on September 6.
The expos are the Reed Tradex Manufacturing Expo Vietnam, the fifth Vietnam-Japan Exhibition on Support Industries, the Japanese Monozukuri Technology Exhibition, and the Industrial Components and Subcontracting Vietnam.
They aim to accelerate the expansion of business networks in the country, said managing director of Thailand Reed Tradex Chainarong Limpkittisin.
Purchasing spare parts is one of the major challenges for Japanese enterprises perating in Vietnam, said Jetro executive vice president Daisuke Hiratsuka.
A recent JETRO survey found that their use of local materials and industrial components in Vietnam is lower than other Asian nations.
This means they have to import more materials and components from abroad leading to high production costs.
The four expos will close on September 6.