Vietnam-Japan supporting industry exhibition to get underway in August
VOV.VN - A press conference was held on June 20 in Hanoi as part of efforts to unveil the 2023 Vietnam-Japan Supporting Industry Exhibition (SIE) and the Vietnam Manufacturing Expo (VME), slated for August 9 to August 11.
The event is expected to attract more than 200 manufacturers and distributors from 20 countries globally, with the aim of boosting trade exchanges among businesses operating in the supporting industry and accelerating the development of the manufacturing industry in Vietnam.
Upon addressing the event, Takeo Nakajima, chief representative of Japan External Trade Organization (JETRO), emphazised that two-way trade between Vietnam and Japan has nearly doubled in the 2013 to 2022 period.
Japan’s direct investment into the Vietnamese market last year increased by 12% to reach US$4,559 million compared to the previous year, he added.
According to a survey carried out by JETRO, the percentage of Japanese companies purchasing raw materials, components, and spare parts in Vietnam increased from 28% in 2012 to 37% in 2022.
Although the proportion has risen significant, it remains slow in comparison to the economic development of the two countries.
Vu Ba Phu, director of the Vietnam Trade Promotion Agency, pointed out that there are roughly 2,000 enterprises producing spare parts and components in Vietnam, of which only 300 firms have participated in the multinational supply chain, thereby generating jobs for more than 600,000 workers.
At present, the number of enterprises operating in the field of supporting industries accounts for nearly 4.5% of the total number of enterprises in the processing and manufacturing industry.
Phu stressed that the function will assist Vietnamese enterprises in the supporting industry as they enhance production capacity and connect with Japanese partners.
