The launch of Hanoi's Industrial Products, Machinery, Equipment and Automation Trade Fair in 2023 on May 17 is expected to promote cooperation between local and foreign enterprises and support market expansion.

Industrial enterprises visit booths at the event. Photos: Hoai Nam/ The Hanoi Times

The fair has attracted enterprises operating in Hanoi and localities, exhibitors from foreign markets such as South Korea, Japan, Taiwan (China), China and Thailand who, in nearly 250 booths, display products in key ancillary industries such as components, spare parts, and supporting industries serving industrial and hi-tech fields.

Speaking at the opening ceremony, Tran Thi Phuong Lan, Acting Director of the Hanoi Department of Industry and Commerce, stated that the department and related units have focused on executing tasks, solutions, and recovery programs to improve ancillary industries and key industrial companies and encourage sustainable production and business activities.

Delegates attend the opening ceremony of the trade fair.

She added that the Hanoi Industrial Products, Machinery, Equipment and Automation Fair 2023 is an opportunity to help enterprises access and transfer new technologies and automate their production and business activities, thus modernizing production and enhancing their ability to participate in the global supply chain of the international industrial sector.

Nguyen Van, Vice Chairman of the Hanoi Supporting Industry Business Association (HANSIBA), said that through the fair, ancillary industry enterprises will have more opportunities to promote and introduce their brands and products and organize trade promotion activities.

In the city's 2021-2025 plan, Hanoi focuses on developing ancillary industries to account for 30% of total industrial output value by 2025, up from 5% currently, and increasing the value of key industrial products to 40-45% of total industrial output.

The city expects 10% of its enterprises to reach Vietnam's top 500 list.