Up to 165 companies from 15 countries and territories will participate in the sixth International Precision Engineering, Machine Tools and Metalworking Exhibition & Conference (MTA HANOI 2018), scheduled to take place in the city from October 16-18.
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He added that more than 75% of exhibitors at the event would come from foreign countries including China, Germany, Indonesia, Japan, the Republic of Korea, Thailand, the US and the UK.
MTA Hanoi 2018 would be an opportunity for cooperation for leading firms in the supply chain of manufacturing and mechanics in the northern region of Vietnam, BT Tee stressed.
On the sideline of the exhibition, many scientific forums will be held simultaneously, such as Technology Forum 4.0, "Blockchain and information security - information management system" and so on.
Pham Duc Thien, head of mechanical engineering under the Hanoi University of Mining and Geology, said that total registered capital of local mechanics businesses reached US$360-380 million while foreign investment in the sector in Vietnam was around US$2.1 billion. These numbers will likely go up in the near future as Vietnam becomes a promising investment destination for foreign investors.
He added that export volume of the mechanical manufacturing industry was expected to account for 35% of the total mechanical output by 2020, 40% by 2030 and 45% by 2035.
The strategy is to focus on development of some sub-sectors such as automobiles, tractors, agricultural machinery, construction equipment, industrial equipment and electrical equipment to meet with the economy’s requirements and partly for exports, Thiem said.
He emphasized that mechanical workforce must be trained to meet the needs of modern manufacturing. This will create strong competition for manufacturers to constantly upgrade their technology, to improve the technology quality.
