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Vietnam-Japan supporting industries fair to be held in Hanoi
The third Vietnamese-Japanese Supporting Industries Exhibition will be held in Hanoi from Nov. 12 and 13 as part of Japan ’s commitment to help Vietnam within the framework of the Economic Partnership Agreement between the two countries.
Almost 120 enterprises from both countries will display their products that serve the automobile, electricity and electronics industries.
At a press conference in Hanoi on Nov. 3, the head representative of the Japanese External Trade Organisation’s (JETRO) office in Hanoi, Hiroyuki Moribe, revealed that the organisation has opened a centre to support small and medium-sized enterprises (SMEs) in order to boost direct Japanese investment in Vietnam.
“We are expecting more SMEs to invest and do business in Vietnam , as the country has a large and young labour force, a stable political scene and a good relationship with Japan ,” said Hiroyuki Moribe.
The Deputy Head of the Trade Promotion Department under the Ministry of Industry and Trade, Ta Hoang Linh, stated that supporting industries play a key role in the industrial sector and Vietnam ’s export activities. The exhibition will therefore help to encourage the transfer of technologies between Vietnamese and Japanese enterprises, as well as improve the competitive capacity of Vietnamese enterprises in the region.
During the exhibition, two seminars on policies to develop supporting industries in Vietnam and a cooperation progamme for enterprises involved in this sector will also be held.
In recent years, trade ties between Vietnam and Japan have developed well. In 2008, their two-way trade hit over 16 billion USD, 3 billion USD more than the targeted figure for 2010. However, in the first eight months of this year, this figure reached only 3.9 billion USD, due to the global economic slowdown, a year on year decrease of 32 percent.
In terms of investment, by the end of October, Japan had 1,154 valid projects in Vietnam with a total registered capital of nearly 17.7 billion USD, ranking 4 th among the 89 foreign investors in the country.
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