Recognizing the opportunities and challenges Vietnam will take from TPP, within the framework of the international exhibition Vietnam Manufacturing Expo, Vietnam Electronic Industry Association (VEIA) and Reed Tradex Co., Ltd. wil co-organize VME Forum which is under topic “Impact of TPP to the Supporting Industries in Vietnam – what businesses need to know”, on April 8, 2016 at 08.30 – 12.00.
The forum will offer to participants the readiness and opportunities of Vietnamese Industries in terms of Electrical & Electronic Industries’ knowledge, services and technology exchange to cope with the updating trends & technologies in Vietnam’s industries.
The current average growth rate of the Vietnam’s electronics industry is about 10% per year. It would bring at the same time opportunities and challenges to Vietnamese enterprises regarding electronic export. Local supply is increasing in recent years. For example, one TV assembler has localized almost all plastic parts. But, local procurement, which is about 20% to 40%, is still far behind what the investors desired. According to the research from Vietnam Development Forum (VDF) and The National Graduate Institute for Policy Studies (GRIPS),the cost spend on spare parts, materials and accessories looms large in production cost as it accounts for 80% of production cost, while labor cost is only 2%. Therefore, foreign investors consider the developing the support industry as a vitally important factor in the sustainability of the electronic industry by sharpening the competitiveness of the sector.
The implement of a new market-opening trade agreements like the Trans Pacific Partnership (TPP) can play an important role in helping countries “move up the value chain,” enabling Vietnam to compete in more advanced economic sectors and supporting higher quality jobs. Further increasing the sophistication of production in Vietnam will, of course, require additional investment, growing skills, and an array of other commitments, especialy for electronic industry which now has to increase the ability in supporting industry to cope the compete with those from other TPP countries such as the United States and Japan.
Mr. Duangdej Yuaikwarmdee, Deputy Managing Director and General Manager Vietnam of Reed Tradex Co., Ltd.shared: “Product quality should be always guaranteed at 100%, the rate 99% is not enough. This one percent explains the difference between FDI suppliers and local suppliers”. VME Forum will be an exclusive platform that offers visions, best practices and experiences by the Industries Key Player towards Vietnam Supporting Industries and across ASEAN. This forum will be the essentially leading international platform for discussion, debate and exchange of technical knowledge together with being the networking stage for top executives, management members, and decision makers.
This forum will take place at Vietnam Manufacturing Expo 2016, Vietnam's Leading Exhibition on Machine Tools for Mold & Die Making and Injection Technologies for Plastics Manufacturing. It will be co-located with “Sheet Metalex Vietnam 2016” which is Vietnam’s only sheet metal fabrication technology and machinery exhibition on April 06-08, 2016 at Hanoi International Center For Exhibition (I.C.E.), Hanoi, Vietnam.
For more information at: www.vietnammanufacturingexpo.com
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