This event was organized by the Department of Industry and Trade of Ho Chi Minh City in collaboration with various associated entities. It is regarded as the most significant trade promotion event of the year for enterprises in the supporting industry.
Addressing the exhibition, Deputy Director Nguyen Thi Kim Ngoc of the Department of Industry and Trade of Ho Chi Minh City was highlighting that the industrial production index (IIP) for the city rose by 7.1 percent in the first 11 months of 2024 compared to the same timeframe last year. Notably, in November alone, the IIP saw an increase of 9.7 percent year-on-year. Overall, the industrial production sector in Ho Chi Minh City has demonstrated positive growth during the initial 11 months of 2024, significantly contributing to the socio-economic development of the city.
Therefore, the 2024 Vietnam Supporting Industry Product Exhibition series aims to promote trade connections for businesses specializing in mechanics and supporting industry.
This year's Vietnam Supporting Industry Products Exhibition has gathered many large enterprises and brands such as Sata, Patta, Markewll, Mr Monkey, United Jumbo. Prominent Vietnamese production companies including Vi Nghe, Choi Son Thanh Binh, An Thai Phu, and Mechanics FJ and other brands showcased their presence at the event.
Over 100 domestic and international organizations and companies specializing in elevators, escalators, and related accessories from countries such as China, Korea, Japan, Australia, Spain, and India are taking part in this exhibition and trade activities, stated Chairman Nguyen Hai Duc of the Vietnam Elevator Association.
Marketing Director Ho Sy Dung of Export Mechanical Tools Joint Stock Company (EMTC) disclosed that with the company has been producing thousands of types of products supplying many industry groups such as auto and motorbike spare parts; hand tools, tools and grills; elevators for 60 years.
Currently, the company's products are exported to markets such as Europe and Japan. Domestically, EMTC supplies spare parts for Honda, Yamaha, Suzuki, VMEP, Piaggio, Toyota and Ford. The company provides customers with comprehensive solutions from design, mold manufacturing to packaging and finishing products.
Head Nguyen Van Nga of the Southern Office of the Ministry of Industry and Trade announced that the organizing committee has created 1,000 booths, which will occupy over 6,000 square meters of exhibition space. This initiative aims to assist businesses in showcasing and promoting their product categories.
The booths will be organized by region and will focus on key product groups, including power tools, hand tools, gardening equipment, reinforcement tools, construction hardware, production machinery, and products from the supporting industries. The products displayed at the exhibition have wide applications in many industries, from manufacturing, production, repair, assembly, construction to DIY consumption.
Numerous companies involved in the aforementioned exhibition series have reported a surge in orders from certain countries in the region moving to Vietnam. This trend is driven by businesses' apprehensions regarding tax policies that significant markets are anticipated to implement in early 2025.
To embrace the surge in export orders, Associate Professor Pham Ngoc Tuan from Ho Chi Minh City University of Technology emphasized that, alongside boosting reinvestment to enhance production capacity, companies must promptly undertake digital transformation and implement visual representations of their factories.
This is a mandatory solution that businesses need to implement to increase competitiveness in the current context because digital transformation helps improve production efficiency, reduce costs, increase productivity and meet market demand.
However, many businesses have adopted a fragmented approach to digital transformation, characterized by a lack of synchronization between software systems. Associate Professor Pham Ngoc Tuan emphasized the imperative to address this issue promptly.
Regarding this issue, Deputy Director Nguyen Thi Kim Ngoc of the Department of Industry and Trade of Ho Chi Minh City said that the city is promoting the implementation of the Supporting Industry Development Program in Ho Chi Minh City for the period 2024-2025 with a focus on supporting businesses in research and development and innovation, applying digital transformation and smart production processes.
The city anticipates that the program will enhance quality management capabilities, boost competitiveness, fulfill the demands of global production networks, assist businesses in market expansion, and facilitate connections between domestic and international product supply and demand.
Particularly within the framework of this exhibition, the Department of Industry and Trade coordinates with units to organize a space to display scientific and technological achievements, demonstrate new models and products, and introduce mechanical and supporting local industrial products.
The exhibition serves as a platform through which the Department of Industry and Trade and related units continue to facilitate the participation of small and medium-sized enterprises in the supporting industry sector in trade promotion programs, thereby enabling them to augment their supply capacity, enhance brand recognition, expand their customer base, and stimulate market growth.
According to Chairman Do Phuoc Tong of the Ho Chi Minh City Electromechanical Association, along with the efforts of businesses, the authorities need to quickly disburse capital from the investment stimulus program.
Ho Chi Minh City has set aside VND1,500 billion (US$58.97 million) to aid loans and interest rates for businesses in the supporting industry sector, but slow disbursement is hindering their production expansion and market access.
