The FBC Hanoi 2020 held on October 28-29 is expected to create an opportunity for Vietnamese businesses to promote products, seek customers, connect businesses, expand markets and lure foreign investment in the supporting industries, Mr. Dam Tien Thang, deputy director of the Hanoi Department of Industry and Trade said.

The opening ceremony of the FBC Hanoi 2020 is held on October 28. Photo: Kinh te & Do thi

Speaking at the opening ceremony on October 28, Mr. Thang emphasized the role of supporting industries in creating product efficiency, quality and cost. An efficient support industry in globalization will help create competitive products, form production networks with multiple layers of supply, connect with multinational corporations, foreign-invested companies as well as assembly businesses in Hanoi and across the country.

Nearly 190 manufacturers and 20 large buyers have joined online and on-site business meetings at the FBC Hanoi 2020. Visitors can book appointments and make on-site and online business matching sessions for free. It is an opportunity for small and medium enterprises to directly approach giants in the manufacturing industry. Vietnamese businesses can also meet face to face with Japanese and Thai buyers without traveling abroad.

The expo is organized to help Hanoi's enterprises in particular and those of Vietnam in general improve their capacity and participate in the supply chain of components and spare parts, including the  industries of electrical and electronic components, auto parts,  motorcycles and mechanical components; supporting industries for the textile and garment, footwear and the high-tech industries.

In addition, international seminars on supporting industry development will be held on the sidelines of the event with the participation of representatives from relevant ministries, departments, and sectors from Vietnam and abroad.

FBC Hanoi 2020 is organized by the Department of Industry and Trade of Hanoi in coordination with Factory Network Asia Group and NC Network Vietnam JSC.

Held since 2017, FBC Hanoi has created positive results to support industry companies. Concretely, it facilitated more than 3,000 transactions with an estimated transaction value of almost US$4.5 million in 2017, almost 4,000 transactions with an estimated transaction value of almost US$5 million in 2018.