In January this year, Vietnam’s Foreign Direct Investment (FDI) increased about 67 per cent to US$663 million from the same period last year. A total of 44 FDI projects were registered, with 19 new projects breaking ground in the same month. One of the investment sectors identified was manufacturing, which attracted about US$605 million.
As more foreign companies look to tap on Vietnam as an export production base, the local community as a consequence is spurred to accelerate its move up the value chain by upgrading current production capabilities with high end technologies.
“Vietnam’s manufacturing industry has transformed and expanded in recent years due to opportunities presented as a result of its healthy labour pool and flow of foreign investment. Now, there is a rise in demand for high quality manufacturing tools and solutions which can help local companies increase their productivity and reduce cost in order to stay ahead of the evolving business climate,” says William Lim, Project Director for MTA Vietnam from the show’s organiser, Singapore Exhibition Services.
Regarding the upcoming MTA Vietnam to be held in Ho Chi Minh city in July, the event will provide manufacturing professionals in Vietnam an established business platform to source for latest technologies and products, and offer value-added seminars for the industry to discuss pertinent issues, trends and developments, he added.
The annual MTA Vietnam exhibition has played a pivotal role in bridging the international manufacturing industry and Vietnam market, showcasing large international players of the industry whom local manufacturing companies can meet, network and possibly work with.
On last year’s edition, Dr Hans-Peter Laubscher, Managing Director-Asia Pacific of TRUMPF Private Limited commented: “Vietnam has moved towards the production of high quality and competitive products for both domestic and international markets. Factories here are embracing advanced technology necessary to achieve this, and the MTA Vietnam plays an important role in this.”
