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| Visitors at the 6th International Precision Engineering, Machine Tools and Metalworking Exhibition & Conference (MTA HANOI 2018). — VNS Photo Vũ Hoa |
BT Tee, organiser and general manager of UBM VES, said Việt Nam has signed many multilateral and bilateral trade agreements. The greatest impact of these agreements on the production area is to help reduce investment costs, thereby encouraging investment from the private sector.
“These are the reasons why foreign businesses are more and more concerned about the country’s mechanical market,” he said.
He added that the the size of the industry in the south is double that of the north. However, HCM City has focused on slow-growing traditional industries, while Hà Nội concentrated on the electronics industry and information technology.
The capital city has a growth rate double that of HCM City, although the scale is only half. This indicates high efficiency in investment in the northern market.
However, he said the country’s mechanics sector has faced challenges of improving its technologies to meet with increasing outsourcing and production demand.
The Fourth Industrial Revolution has pushed the mechanics sector to a higher level with new smart equipment such as robots and 3D printing machines with outstanding characteristics.
The exhibition therefore brings leading firms with advanced machines and equipment to the northern market, he added.
Covering an area of 4,300sq.m, the event attracted some 165 firms from 15 countries and territories.
MTA HANOI 2018 will also have seminars, interactive workshops and panel debates on some of the current issues affecting the manufacturing and precision engineering sectors, including forums on Industry 4.0 technology, blockchain and OT security system. — VNS
