Reed Tradex: A manufacturing liaison
Reed Tradex: A manufacturing liaison
The Vietnam Manufacturing Expo 2017 – an international exhibition catering to mould and die making and injection technologies for plastics manufacturing – is slated to take place from April 26-28 in Hanoi.
Kasinee Phantteeranurak, project manager of Asia’s leading trade fair and exhibition organiser Reed Tradex Company Limited, shares her outlook about recent movements in Vietnam’s investment landscape and what the company will do to support local firms as they greet new investment waves.
Reed Tradex has been operating in Vietnam for over 10 years. What were the company’s major achievements?
Last year closed with great success, as we celebrated the 10 year anniversary of Reed Tradex in Vietnam. We welcomed over 30,000 quality visitors calling on our exhibitions in two Vietnamese economic hubs – Hanoi and Ho Chi Minh City. One of the key success points which make exhibitors continue their confident participation in our exhibitions is not only the specialised content, but also the meticulous preparation and comprehensive marketing plan to deliver the right targeted partners to all of the participants.
What is your outlook about the Vietnamese market orientation and investment environment?
Vietnam is an Asian emerging market with high investment potential. According to the World Investment Report 2016, foreign direct investment (FDI) inflows to Vietnam have increased considerably, and are expected to continue to grow, confirming the country’s position as the third most attractive country in terms of FDI in Asia, just behind China and India.
In the past, FDI flows were directed towards light industry, but they are now quickly turning towards heavy industry, real estate, franchise operations, and tourism. With the positive effects from FDI, Vietnam now produces high value added products such as smart phones and tablets.
Vietnam is a rapidly changing country that offers increasing opportunities for foreign businesses.
What opportunities and challenges does Vietnam need to be aware of to prepare for international integration?
Vietnam has started to attract large technology, industrial, and human resource projects, in which some of the world’s biggest high-tech investors come from Japan and Korea. At present, most of Vietnam’s products are made using outdated technologies. It is also a challenge for Vietnam to satisfy the supply chain networks of high-tech foreign investors.
Vietnam’s economy faces complex challenges that require a transition to a productivity-driven growth trajectory. According to McKinsey Global Institute, Vietnam needs to boost its overall labour productivity growth by more than 50 per cent, from 4.1 per cent annually to 6.4 per cent, if the economy is to meet the government’s target of 7 to 8 per cent annual growth by 2020.
More than ever, long-term infrastructure development is recommended, but before a focused investor begins, they need to address the shortage of skilled workers. Training programmes and the introduction of common standards that workers can use to learn and grow will undoubtedly help firms attract and retain quality employees.
As an exhibition organiser, how does Reed Tradex support the industrialists and manufacturers in Vietnam to catch up on new business opportunities?
In recent years, Vietnam has transformed itself from subcontracting and assembly to the processing and manufacturing sectors. The integration pressure on industrial products will get higher in the near future.
Setting our role as a business promoter, especially in the manufacturing industry, we do believe that using the right technology, rather than the most modern technology, will help Vietnam supply the needs of an increasingly high-tech world.
Recognising the opportunities and development paths from existing challenges in 2017, we will focus on developing the exhibition programme to be more competitive, not only demonstrating the machines and equipment, but also co-ordinating with organisations and experts in the industry. We seek to interact and learn from more advanced businesses, creating technology transfers and exchanging knowledge resources to apply technology and machinery practically and with the highest financial efficiency for manufacturers in Vietnam.
We also aim to make our exhibition become “one platform, one station”, where it is the centre of the industrialist community. The community is not only domestic, where manufacturers can exchange and connect to win in the local market, but also consists of international members from places such as Japan, South Korea, and Europe to gain more knowledge about what it takes to manufacture with excellence and at higher global standards.
Vietnam Manufacturing Expo (VME) 2017 aims to respond to the market’s increasing needs concerning precision manufacturing. Metrology and assembly automation are two in-trend areas which will be focused on. VME 2017 will not only feature the leading brands in metrology and assembly automation, but it will also attract experts in the industry who are ready and eager to share technical experience and insider knowledge with anyone who is interested.
