Reed Tradex ready with Vietnam industrialists to catch new investment wave (Illustrative image. Source: VNA)The manager noted that 2016 has closed withthe great success of the10th year of Reed Tradex in Vietnam. Thecompany has welcomed over 30,000 quality visitors in two economic hubs ofVietnam which are Ha Noi and Ho Chi Minh City.
According to Kasinee Phantteeranurak, in many ways, Vietnamis the emerging market in Asian region with high investment potentials. Shecited the World Investment Report 2016 which said FDI inflows to Vietnam haveincreased considerably, and are expected to continue in growth, confirming thecountry's position as the third most attractive country in terms of FDI inAsia, just behind China and India. In the past, FDI flows were directed towardslight industry, but they are now quickly turning towards heavy industry, realestate, franchise and tourism. With the positive effects from FDI, Vietnam nowproduces high value-added products such as smart phones and tablets.
“Vietnam is a countryof changes and currently offering increasing opportunities for foreignbusinesses,” she said, stressing that it is now exactly the time for foreigninvestors to start their business plans and grasp the upcoming clearopportunities.
Asked about theopportunities that Vietnam needs to grasp and also challenges to the country inits integration process, she said Vietnam's economy faces complex challengesthat require a transition to a productivity-driven growth trajectory.
“According toMcKinsey Global Institute, Vietnam needs to boost its overall labourproductivity growth by more than 50 percent, from 4.1 percent annually to 6.4percent, if the economy is to meet the government’s target of 7 to 8 percentannual growth by 2020. More than ever, a long-term infrastructure development planis recommended to be set up, which should focus on investor needs and addressshortages of skilled workers through training programmes and the introductionof common standards for all the workers to upgrade themselves,” Kasinee Phantteeranurak said.
She remarked that in recentyears, Vietnam has transformed itself from subcontracting and assembly to bethe industry of processing and manufacturing, the integration pressure onindustrial products will get higher in near future. Vietnam’s science andtechnology development strategy until 2020 requests a 15-20 percent oftechnological improvement a year. It means that after five years, a newgeneration of technology must replace the old one.
“But the good newsis, on the other hands, innovation means not only replacing old machines withnew ones but also changing a management system as well as developinghigh-quality human resources, which remains uncompetitive level in Vietnam,”she said.
She went on to saythat one of the solutions is to strengthen cooperation between scientists andbusinesses as well as promote international cooperation in the fields ofscience and technology in order to keep up with the world. As a businesspromoter, especially in manufacturing industry, Reed Tradex does believe thatit is not about using the most modern technology, but the right technology willhelp Vietnam to narrow the gap with hi-tech world's demand.
“The world ischanging; the game “big fish eat little fish” is not going well anymore,replaced by “fast fish eat slow fish,” according to the manager.
She informed that in2017, the company will focus on developing the exhibition programme to be morecompetitive. It will coordinate with organizations and experts in the industry,also the businesses who are holding the technology, to implement thetransmission of knowledge resources, technology transfer and exchange of theability to apply technology and machinery practically, with highest financialefficiency for the manufacturers in Vietnam.
This year, the companyoffered an international business platform for industrialists in Hanoi throughthe international exhibition “VietnamManufacturing Expo 2017” which was held from 26 – 28 April, 2017. The exhibition will return to Hanoi in 2018from 8 – 10 August.
It is also inprocess to launch the “Nepcon Vietnam2017” which is a special exhibition on SMT & testing technologies,equipment and supporting industries for electronics manufacturing. “Nepcon Vietnam 2017” will celebrateits 10th edition and will be held at Hanoi International Center for Exhibition(I.C.E) from 13 – 15 September.
From October 12-14,at Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, thecompany will introduce the 11th edition of “Metalex Vietnam 2017” which is an international exhibition onmachine tools & metalworking solutions for production upgrade.
“We will welcome theentire local and foreign industrialists to the exhibitions, which will comealong with business match-making programmes in which the participants will notbe charged any fee,” the manager said, adding that atthe exhibitions, there is the presence of not only the leading brands fromaround the world, but also experts in the industry, who will always be ready toshare technical experience and technology's knowledge to all visitors.-VNA
VNA
