MOU Signing Ceremony
Vietnam Trade Promotion Agency (VIETRADE), Ministry of Trade and Industry (MOIT)
& Japan External Trade Organization (JETRO) Hanoi Office
& Reed Tradex Vietnam
VIETNAM SUPPORTING INDUSTRIES FORUM 2021
“Integrating Vietnamese Business into Global Supply Chains:
Challenges & Opportunities after Covid-19”
_______Vietnam Trade Promotion Agency (VIETRADE), Ministry of Trade and Industry (MOIT) & Japan External Trade Organization (JETRO)-Hanoi Office & Reed Tradex Vietnam
MOU Signing Ceremony
Representatives from Organizers:
1. Mr. Vu Ba Phu - Director General - Vietnam Trade Promotion Agency (VIETRADE), Ministry of Trade and Industry (MOIT)
2. Mr. Takeo Nakajima – Chief Representative of Hanoi Office - The Japan External Trade Organization (JETRO) – Hanoi Office
3. Mr. Vu Trong Tai – General Director - Reed Tradex Vietnam
Vietnam, 02 July 2021, Reed Tradex – ASEAN leading exhibition organizer together with Japan External Trade Organization (JETRO) and Vietnam Trade Promotion Agency (VIETRADE), Ministry of Trade and Industry (MOIT) organize the virtual MOU Signing Ceremony within the scope of the 02 annual international exhibitions: Vietnam-Japan Supporting Industries (SIE) and Vietnam Manufacturing Expo (VME). The event is organized with the aims of enhancing the trade relations between Vietnam and Japan in manufacturing, industrial and supporting industries, and empowering the competitive strengths for domestic manufacturing business to reach out the global markets. In addition, the Organizing Committee announces the opening of Vietnam Supporting Industries Forum 2021 under the theme “Integrating Vietnamese business into Global supply chains: Challenges and Opportunities after Covid-19”.
The remarkable 2021 is a milestone for domestic and international trading businesses to strongly transform with digital technology and bounce back after the pandemic via strategies for optimizing resources and expanding business connections. Besides the challenges from the instability of world economy, the effectiveness of new trade agreements such as EVFTA and UKVFTA, and policies to support and encourage FDI from the Vietnamese government are expected to create potential investment opportunities and partnership for those who is ready to catch up with market trends.
Within the frame of references, Mr. Vu Trong Tai, General Manager, Reed Tradex Vietnam, representative of the Organizing Committee - VME 2021 shared: “Even during the pandemic, Vietnam continues to be recognized by major financial institutions with positive vibes, stable evaluation as an attractive destination in the China + 1 strategy of global enterprises. For foreign investors, Vietnam is still a potential market with many opportunities in manufacturing and supporting industries. Together with the partnership of Reed Tradex, JETRO and VIETRADE, in 2021, it is the first time that the 02 international exhibitions SIE & VME Exhibitions will be held in both onsite & and online formats “double” the power of business matching to support industrial businesses with the access to new technologies and expanding trading networks between domestic and foreign enterprises, especially between Japanese and Vietnamese firms.”
In the other hand, The Chief Representative of Japan External Trade Organization (JETRO) in Hanoi, Mr. Takeo Nakajima, commented: “At present, Japan's total investment in Vietnam has ranked second over total investment in the country both in terms of project’s quantity and capital. From January to May 2021, the number of investment projects decreased by 30%, but the investment capital recovered 5 times due to the high rate of infrastructure projects and expansion of investment scale. According to a JETRO’s survey, about 50% of Japanese enterprises which have been investing in Vietnam answered that they wanted to “expand business activities" in the next 1 to 2 years that make Vietnam top among ASEAN countries for investment. However, the difficulties still remain, in which one of the biggest challenge is the low rate of localization in raw materials, supplies and components of Japanese enterprises in Vietnam (37.0%) and Japanese enterprises want to further enhance localization activities.
Mr. Takeo Nakajima emphasized that: "The Vietnam - Japan Supporting Industry Exhibition" (SIE) 2021 is organized with the purpose to improve the localization rate of Japanese enterprises and strengthen the supply of components, industrial parts. During the 2 previous SIE (2017 and 2019) in Hanoi, 136 Japanese and Vietnamese enterprises participated and achieved more than 8,500 trading agreements, the total value of contracts was 3.8 million USD. In 2021, from the Japanese business side, there will be 13 big enterprises and 7 small and medium enterprises in transport equipment (6 enterprises), electric-electronics (4 enterprises) (As of 16 June) and other enterprises in manufacturing and processing (stamping, mold, plating,... ). All of those are manufacturing enterprises that expect to reach out for the product’s localization in Vietnam.
For Vietnamese enterprises, they are mainly capable enterprises that have been published in JETRO's "The Excellent Vietnamese Companies in Northern and Central Vietnam", about 30 of those are businesses who participate in the first time (As of 16 June). Therefore, in the upcoming SIE exhibition, there will be the presence of excellent enterprises and new ones from Vietnam and Japan, promisingly to bring up new cooperation relationships for businesses opportunities."
In response to the impact of Covid-19, both Japanese businesses and foreign investors are interested in: When the age of automation begins inside out the markets, how does the manufacturing and supporting industries and technology can agile transform and create breakthrough changes to make Vietnam become a key industrial production zone in the region and enter the global supply chains?
Mr. Vu Ba Phu, Director General - Vietnam Trade Promotion Agency (VIETRADE - Ministry of Industry and Trade), gives the opening speech: “According to the Asian Development Outlook (ADO) 2021 report of the Asian Development Bank (ADB) 2021, ADB commented that Vietnam's economic growth is forecast to recover to 6.7% this year despite the re-emergence of the COVID-19 pandemic and may accelerate to 7.0% in the upcoming 2022. This growth will be driven with the export-oriented manufacturing industry followed by increasing investment and expansion of trade.
The Ministry of Industry and Trade has been implementing many synchronous solutions to support investment development, technology application, and development of manufacturing and supporting industries. In particular, the organization of the Vietnam - Japan Supporting Industry Exhibition by VIETRADE in collaboration with the JETRO Hanoi is a great contribution to support for Vietnamese enterprises to enhance production capacity and connect with Japanese partners. The 9th Vietnam - Japan Supporting Industry Exhibition in Hanoi will be co-located at the same time with the Vietnam Manufacturing Expo 2021. I believe that the 02 exhibitions will become remarkable events, actively promote for investment and trade cooperation between Vietnam and Japan in supporting industries.”
With the participation of exhibitors from more than 20 countries and over 200 brands of famous technology & machinery joined in international pavilions coming from Japan, USA, Korea, China, Taiwan, Singapore, Thailand, Germany, Russia, India, …The Vietnam-Japan Supporting Industries Exhibition (SIE) and Vietnam Manufacturing Expo (VME) will be held from 15-17 September, 2021 with both onsite at I.C.E Hanoi and online via VME website. Many activities will be held face-to-face and virtual format during the exhibition time to support businesses and visitors in connecting with agents, distributors and business partners. Besides, annual programs such as seminars, pre-show forums will be organized online. For more details about SIE & VME 2021, please visit: www.vme-expo.com
VIETNAM SUPPORTING INDUSTRIES FORUM 2021
“Integrating Vietnamese Business into Global Supply Chains:
Challenge and Opportunities after Covid-19”
As an annual pre-show event of SIE and VME, for the first time in 2021, the Vietnam Supporting Industry Forum will be held online (virtual format), providing updates on challenges and opportunities for businesses in the industry as well as the policies from governments, local and international organizations to support for businesses after the pandemic. The topics of Vietnam Supporting Industry Forum 2021 will be covered by speakers:
1. Mrs. Do Thi Thuy Huong – Vice president of Vietnam Association of Supporting Industries (VASI), Executive Board of the Vietnam Electronic Industries Association (VEIA)
2. Mrs. Pham Lien Anh - Sr. Operations Officer, International Finance Corporation (World Bank Group) in Vietnam
3. Mr. Nguyen Dinh Phong – Tax Director, Deloitte Vietnam
At the Vietnam Supporting Industries Forum 2021, Mrs. Do Thi Thuy Huong shares about the topic "Electronic enterprises in supporting industry and opportunities to join global supply chain for business transformation after COVID-19". Ms. Pham Lien Anh presents the solutions and ideas of "Developing the supply chains business in the post-pandemic context & The role of digitization". From the perspective of business consultant firm and consulting partner of the Ministry of Industry and Trade, Mr. Nguyen Dinh Phong updates “The Government's preferential corporate income tax policy for industrial and supporting industries enterprises”.
Despite of being organized online with limited participants, the information and industry updates of Vietnam Supporting Industry Forum 2021 will be shared by the Organizing Committee as non-profit activity via official channels of SIE & VME 2021 to support businesses in the industrial and supporting industries in non-stop improving business matching and connecting to overcome difficulties after the pandemic. This is also one of the activities to support for the industrial business community under the Business Innovation Zone, a pre-show project of Vietnam Manufacturing Expo, powered by Reed Tradex since 2020.
___________About Reed Tradex Vietnam
Reed Tradex is ASEAN's leading exhibition organizer, a member of Reed Exhibitions, the world’s leading event organizer who creates high profile, targeted industry events where buyers and suppliers come together to do business. Our global portfolio includes over 500 events serving 43 industries in 30 countries. In Thailand and Vietnam, we organize 20 strong brands of international exhibitions and conferences. For 36 years, Reed Tradex has been forming circles of business contacts for many industries using unique skills in Event Strategy, Financial Control, Operations Excellence, and Integrated Marketing Communications, that can only be excelled through experiences, connections and digital technologies. For more information about activities of Reed Tradex in Vietnam, visit: www.reedtradex.comAbout Business Innovation Zone
Since 06/2020, the Business Innovation Zone was kicked off by Reed Tradex to support both local and international enterprises, especially SMEs in Manufacturing, Factory Logistics and Electronics in response to the changing landscape of business after the pandemic, to overcome the challenges with information and solution in utilizing the benefits of both “online & offline” business opportunities. Accordingly, Reed Tradex will partner with business leaders, consulting experts, industry professionals, government officers to organize webinar series which will offer new insights and successful guerrilla business case studies. Join the Business Innovation Zone and receive the complimentary business consulting session HERE
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Source: Vietnam Manufacturing Expo