Last updated: Tuesday, May 21, 2013
Vietnamese Potential Towards AEC to be Unveiled at Business Mission ForumPosted: Friday, April 13, 2012
Vietnam is still a big potential market for foreign investors as it has high ratio of industrial expansion. To further take advantage of the potential, Vietnamese manufacturers need to learn what technology trends are coming so they can catch up with the advancement.
To serve this purpose, Reed Tradex will organize “Business Mission to Hanoi” as a series of networking activities during 23 – 24 May 2012 under theme “Your Direct Access to Develop Business Opportunities and Connections” at Melia Hanoi Hotel.
“Business Mission to Hanoi” is the one of marketing activities to promote METALEX and NEPCON Vietnam 2012 which will be held in October 2012 in Ho Chi Minh and Vietnam Manufacturing Expo 2013 in Hanoi. An exclusive Business Mission program designed exclusively to enable foreign investors to explore and survey investment or trade opportunities in Vietnam while learning the requirements by Vietnamese industrialists through a series of networking activities. The two-day activities promise to offer abundant networking opportunities to establish business connections and networks.
Mr Chainarong Limpkittisin, Managing Director of Reed Tradex said: “If we look back on foreign direct investment FDI attraction into Vietnam several years ago, the peak year was in 2008 when Vietnam allured 1,171 FDI projects with total registered capital of US$64 billion, an increase by threefold compared with 2007. However, this figure has been on the decline in recent years, registering US$21.48 billion in 2009, US$18.1 billion in 2010 and US$14.69 billion in 2011. In the first two months of 2012, total FDI capital poured into Vietnam reached US$1.23 billion, accounting only 45.5 percent compared with the same period last year.”
“Vietnam used to be one of the most attractive destinations in Asia for investors but now there are many emerging "stars" such as Myanmar and Indonesia. Therefore, if Vietnam wants to promote investment attractiveness, it needs to create a competitive investment environment, focusing on releasing preferential policies on taxes and land, upgrading the infrastructure network and training high-quality labor force. All of which could take a lot of time to achieve and if Vietnam does not start the work right now, it will only be second or third choice of investors. One of the knots that hinder foreign investment in Vietnam in recent times is the underdeveloped support industries which cause concerns among investors as they have to import too many accessories from abroad for production in Vietnam.”
“Honda Vietnam produces 1.5 million units every year and the motorbike market in Vietnam is quite developed. However, the more motorbikes Vietnam sells, the more accessories Thailand exports to Vietnam. Therefore, Vietnam has to develop supporting industries to attract more foreign investment in the future. Moreover, Vietnam needs to identify its strong and advantageous industries and sectors which can attract foreign investment, rather than spread investment attractions,” he added.
Joining the Business Mission Forum, all delegates will get many benefits such as saving time and money to explore investment and/or trade opportunities through direct contacts with potential customers and authorities, direct contacts with executives from industrial manufacturing and related industries seeking to technology providers, parts manufacturers, machinery makers related Association’s Members and Government’s Representatives, factory visit trip, table top opportunities in the exclusive forum with over 500 industrialists in Vietnam.
On 23 May 2012, manufacturers and industrialists in Vietnam seeking to make the most out of the upcoming AEC are invited to attend an exclusive Forum under the theme of “Challenge and Opportunities in Developing Vietnam Supporting Industry Towards AEC” and get an opportunity to represent leading international brands from 13.30 – 15.20 hrs. at Grand Ballroom, Melia Hanoi Hotel.
The Forum will feature speeches by notable figures from key industrial associations and government sector under the following topics: The International Trade Cooperation Policy Serving Supporting Industry for Heading to AEC , Hanoi; the Readiness of Infrastructure and Labor Policy to Strengthen Supply Chain Industries, Vietnam Automotive Industry and Its Prospects for Development in Globalizing Economy and Challenge and Opportunities of Vietnam Electronic Industries Towards AEC.
We will also organize Factory Visit trip to Thang Long Industrial Park or Noi Bai Industrial Zone on Thursday, May 24, 2012.
For more information, please visit website www.vietnammanufacturingexpo.com or e-mail to Reed Tradex Contact Center at email@example.com