|Vietnam Hardware & Hand tools Expo 2018 is the only international exhibition in Vietnam dedicated to hardware and hand tools |
As one of the leading countries in terms of foreign direct investment (FDI) attraction according to the World Bank, the Vietnamese economy has witnessed significant contribution by foreign firms in the past 30 years. The country is also an ideal destination where a variety of world-class brands like Samsung, Bridgestone, Nipro Pharma, Fuji Xerox, Posco, and LG chose to run their businesses, which have facilitated its economic growth, brought advanced skills to the labour force in manufacturing, and created more opportunities for foreign and domestic suppliers.
Big companies usually require a stringent supply chain of components because auxiliary components are an integral part of a production. If Vietnamese manufacturers can prove that their products are up to the standards used in the factories of big companies, it will definitely result to mutual benefits for both foreign and domestic companies.
The EICC standard with capacity and quality as its two key elements has become a means of assessment for major foreign electronics companies in Vietnam like Samsung, LG or Foxconn to choose their local partners. It is “an admission ticket” for domestic component manufacturers to become the vendors of these “giant” corporations. As a result, taxation and transportation costs for imported goods are cut down, helping local manufacturers reduce production cost and increase profit.
Take high-local-content Samsung products and Samsung’s weighty contribution to the Vietnamese economy as an example. According to statistics, after 10 years of investment in Vietnam, the export turnover of Samsung Electronics Vietnam (SEV) and Samsung Electronics Vietnam Thai Nguyen (SEVT) accounted for $9.8 billion in 2014, $17.2 billion in 2015, and $21.1 billion in 2016. The localisation rate of SEV and SEVT has been 57 per cent so far, which is remarkable.
As can be seen, Samsung has not only made a change for the better to thousands of households in Thai Nguyen, but also brought in a large source of revenue to the province in particular and Vietnam in general. Samsung is both a successful example of FDI attraction and a spotlight of trade activity in Vietnam.
|Last year's expo was attended by 218 exhibitors from 16 countries, as well as 13,000 visitors |
In Vietnam, a concept of “prestigious business destination” has been developed by organising many trade fairs and exhibitions, attracting international brands and promoting local labels from a variety of industries.
“We are proud that our Huu-Toan-branded generators have been exported to fastidious markets like South America and Japan. We are about to meet with other partners from Sri-Lanka and Malaysia at this exhibition,” shared Ta Nguyen Huynh Nhu, director of Huu Toan Co., Ltd. after two years of participation in Vietnam Hardware and Hand Tools Expo.
The Expo is the one and only exhibition dedicated to electric equipment and electrical accessories and spare parts; hand tools (used in electricity, repair, mechanical manufacturing, wood processing, construction, ship-building, and gardening); fasteners; hardware (pliers, tongs, drill bits, grinders, screws, valves, and taps, among others); and security devices (locks, hooks, palang, etc.), among others.
In 2017, the exhibition welcomed 218 exhibitors from 16 countries and territories like Japan, Belgium, Denmark, the Netherlands, Korea, Switzerland, and Taiwan, along with 12,790 visitors.
“We received information about the show six months ago. We do hope that this will be our very first step to explore the Vietnamese market and look for further cooperation opportunities here in the future,” said Christian Follmann, who is in charge of Hand Tools Division at SUKI Corporation from Germany.
VINEXAD, the organiser, has 43 years of experience in organising a variety of specialised conferences to attract more local and foreign participants.
The four-day exhibition will be held from December 5 to 8, 2018 at Saigon Exhibition and Convention Centre, 799 Nguyen Van Linh Street, District 7, Ho Chi Minh City.