Investment Thứ năm, 12/04/2018 14:44

Vietnam Expo 2018 offers trade opportunities for businesses

The 28th Vietnam International Trade Fair (Vietnam Expo) officially opened in Hanoi on April 11, attracting more than 550 booths from 500 enterprises both at home and abroad.

Delegates cut the ribbon to officially open the Vietnam Expo 2018 in Hanoi, on April 11, 2018
Delegates cut the ribbon to officially open the Vietnam Expo 2018 in Hanoi, on April 11, 2018

The nation’s largest annual international trade fair is a joint event co-organised by the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade and the Vietnam National Trade Fair & Advertising Company, in cooperation with relevant ministries, sectors, and localities across the country.

In his opening speech, Deputy Minister of Industry and Trade Tran Quoc Khanh said that since its first launch in 1991, the Vietnam Expo has become one of the largest trade promotion events in Vietnam, bringing about valuable economic opportunities for Vietnamese enterprises and contributing to the Government's commitment to international economic integration.

Following a theme of strengthening regional and international economic connectivity, this year’s event attracts the participation of more than 500 businesses from 21 localities across Vietnam, as well as from 23 foreign nations and territories, including Russia, the Republic of Korea (ROK), China, Nepal, Thailand, Japan, Singapore, Cuba, Laos, Cambodia, Mongolia, Chinese Taipei, and Hong Kong (China).

According to Deputy Minister Khanh, a highlight of this year’s fair is the presence of Russian enterprises for the first time. The participation of Russia in the role of the guest of honour is a meaningful activity that will bring about opportunities for effective trade promotion between the two sides, he affirmed.

On an area covering more than 520m2, Russian enterprises showcase their key products in prominent industries, such as mechanical processing, precision mechanics, automation equipment, industrial biotechnology, and hi-tech electronics.

Tatiana Khamanova, Marketing Director of Russian ‎VIST Group, which offers IT solutions for mine fleet and railroad management systems, said that her company can offer Vietnam software solutions to support mining operations, metallurgy, electrical science, and telecommunications, which have been applied in Russia, Africa, and South America. She expressed her wish to find a suitable Vietnamese partner in these fields.

The 28th edition of Vietnam Expo also marks the two decades that the ROK has run a national pavilion at the event. This year’s Vietnam Expo features 150 booths from 132 Korean businesses in cosmetics, IT software, electronics, home appliances, and processed foods. A special pavilion named Vietnam - Korea Design Sharing is also a highlight. It is a joint effort of VIETRADE and the Korea Institute of Design Promotion who have provided active support in enhancing design capacity and market research for Vietnamese enterprises.

The reduced tariffs for exports of Vietnamese agricultural products to the ROK under the Vietnam-Korea Free Trade Agreement (VKFTA) has encouraged domestic enterprises to export rice, tea, cashew nuts, macadamia, cat fish, shrimp, and octopus to the East Asian market. At the fair, typical products from localities across Vietnam will have greater chances to reach Korean importers and foreign partners in general. The VKFTA is expected to rouse Korean enterprises to select Vietnamese agricultural products due to the reduced tariff.

The national pavilion run by Cuba at this year’s event is also the largest of its kind during the past ten years of attending the Vietnam Expo. The Caribbean nation sent its largest delegation ever of 30 enterprises to the fair, focusing on mechanics, renewable energy, bio-products, irrigation, and medicine.

he host will have some of its strongest brands featured at Vietnam Expo, with the participation of enterprises under the Vietnam Value, such as the Hanoi Trade Corporation (Hapro), Hanoi Beer Alcohol and Beverage JSC (Habeco), Binh Minh Plastics JSC, Duy Tan Plastic JSC, and Dien Quang Lamp JSC.

Nguyen Duy Chinh, General Director of Tan A Dai Thanh Group, said that participating in the trade fair is an important element in the marketing efforts of most enterprises, where they can introduce products and receive feedback from their customers. In addition, the fair also brings opportunities for businesses to seek partners through the signing of trade contracts, which not only present immediate benefits but also hold long-term significance for each enterprise in its development strategy.

On the sidelines of the fair, there are a series of Vietnam’s investment promotion and industrial development pavilions organised by the VIETRADE to provide updated information on the investment environment in Vietnam to foreign investors. At the same time, it also introduces the strengths and policies to attract investment and commitments of local authorities as well as the investment opportunities of six provinces and cities of Hanoi, Hai Phong, Yen Bai, Ninh Binh, Thanh Hoa, and Dong Thap. In addition, there are promotion activities, including export promotion forums, specialised seminars, contract signings, and field trips to industrial parks.

Vietnam Expo 2018 will run until April 14 at the Hanoi Cultural Friendship Palace, No. 91 Tran Hung Dao Street from 9am to 6pm every day. The four-day event is expected to welcome 20,000 visitors.

(Source: NDO)

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