70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Hanoi to host multiple fairs promoting industrial firms
Phi Nhat 16:56, 2023/06/06
The events are expected to be a catalyst for new partnerships and the promotion of product consumption.

The Hanoi Department of Industry and Trade is set to host a series of fairs and exhibitions in 2023, aiming to facilitate valuable connections between local businesses and leading technology companies worldwide.

  Production at Channel Well Technology Vietnam in Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/ The Hanoi Times

Tran Thi Phuong Lan, director of Hanoi's Department of Industry and Trade, shared the annual plan with The Hanoi Times, underscoring the persistent challenges encountered by manufacturers in securing new orders and contending with fierce competition from domestic firms and cheap imported products.

"Therefore, support from Government agencies is needed to bring together businesses from different sectors, understand their needs, create favorable conditions for cooperation to enhance production capacity, improve product quality, and foster new partnerships to bolster product consumption," she stressed.

Under the plan, local authorities will invite 30 to 40 technology developers from the US, EU, Japan, and South Korea to participate in the program.

Hanoi expects these international companies to provide technical and financial support to local industrial producers to develop their key products.

According to the agency, about 900 local companies are involved in ancillary industries, including nearly 300 whose products meet international standards. This number is constantly increasing.

As a result, more and more opportunities are opening up for businesses in the ancillary industry, especially as many foreign companies have chosen Vietnam for relocation, Lan added.

"In the coming period, the department and relevant units will focus on improving the ancillary industries and key industrial enterprises while fostering sustainable production and business activities. In this way, Hanoi aims to achieve the industrial growth target of 7 to 7.5% in 2023," Lan said.

The city also expects to develop 30 to 35 key industrial products in 2023, half of which will be new ones. 

Last month, the Hanoi Department of Industry and Trade organized the "Hanoi Industrial Product, Machinery, Equipment, and Automation Trade Fair 2023" in coordination with relevant agencies.

At the event, industrial enterprises in Hanoi and foreign markets such as South Korea, Japan, Thailand, and China exhibited key supporting products such as components, spare parts, and products for high-tech industries in 250 booths.

The city recognized 33 products from 25 enterprises as the city's key industrial items in 2022. The selected enterprises have a combined revenue of VND76.8 trillion (US$3.27 billion) and an export turnover of US$550 million.

Among them, two entered the list of Vietnam's 500 largest enterprises were Thuong Dinh Electric Wire and Cable JSC and Garment 10 Corporation JSC, and 11 joined the program for the first time with 15 new products, recorded sales of VND9.4 trillion (US$408 million) last year.

With the support of Government agencies and policies, Hanoi's industrial sector is expected to develop rapidly, contributing to the city's economic growth and promoting sustainable development.

TAG: Hanoi news Vietnamnews Hanoi industrial firms Hanoi key industrial products
Other news
16:48, 2024/02/22
Supermarkets in Hanoi offer post-Tet promotions to boost demand
More than 1,300 retail outlets in Hanoi were open from the first to the sixth day of the Lunar New Year, instead of remaining closed as is usually the case.
15:20, 2024/02/21
Hanoi, Japanese firms join hands for aerospace component production
The move is a concrete manifestation of the robust cooperation between the two nations.
12:55, 2024/02/20
Hanoi boosts businesses' export via foreign distribution networks
The Hanoi People's Committee has approved a project focusing on the development of export and import markets for sustainable growth.
13:17, 2024/02/18
Site clearance is key for 500kV power line
The use of forest land for the transmission line remains the biggest obstacle that various ministries and agencies need to resolve, given the short time available for site clearance.
17:02, 2024/02/17
Hanoi mayor calls on hi-tech firms to boost production after Tet
The development of high technologies is one of Hanoi’s priorities in 2024.
18:05, 2024/02/16
Gov’t expects “rescue plan” for Vietnam Airlines in Feb
Several forecasts suggested that global air traffic will gradually recover, and the business activities of Vietnam Airlines are expected to yield more positive results in 2024-2025.