ITAP 2023 – Key knowledge and innovation platform for Vietnam manufacturers

15 May 2023 | HANOI TIMES | Curated By Viet Stock

While Vietnam has seen accelerated economic growth in a post-pandemic landscape, the country’s manufacturing industry is looking to strengthen its infrastructure and make businesses more resilient to global headwinds.

These observations were echoed at Industrial Transformation ASIA-PACIFIC (ITAP)'s networking session organized with the Vietnam Electronics Industries Association (VEIA) on May 10.

ITAP, an event of Constellar with international partner Deutsche Messe, takes at Singapore EXPO since 2018.

Reaffirming Vietnam's position as an emerging advanced technology manufacturing hub, the session was attended by leading electronics manufacturers and key players from Vietnam's advanced manufacturing ecosystem.

Attendees were invited to participate in ITAP 2023 to be held in Singapore, the Global-Asia node of innovation, technology, and enterprise, which will provide exciting opportunities for industry players to source for leading, future-ready solutions that meet their practical business needs and help accelerate the development of the nation’s manufacturing and tech sectors.

Sharing at the meeting, Do Thi Thuy Huong, Member of the Executive Committee of the Vietnam Electronic Industries Association (VEIA), said that Vietnamese electronics businesses are now facing enormous opportunities since many electronic companies gradually moved from China to Vietnam to look for suppliers. Apple has a factory in Vietnam producing more advanced products such as tablets, desktop computers, and iPads instead of only headphones as it did in the past.

Additionally, Vietnam is given more chances to export electronic components to various international markets. In early 2023, the VEIA hosted a large number of business delegations from Europe, Eastern Europe, and Russia who had a similar desire to source high-quality electronic products from Vietnam.

Darren Seah, Portfolio Director (Industrial Transformation), ITAP, said excellent opportunities to integrate into the global value chain still exist for Vietnamese companies in general and Vietnamese electronic companies in particular. Because Vietnam brings together a number of factors—including the investments of numerous sizable technology corporations and the formation of a network—it has completely established itself as an electronics manufacturing hub for Southeast Asia and the rest of Asia.

Specifically, more firms in the electronic industry are integrated into the global supply chain while the Government policies for timely business support are in place, Darren Seah said, noting that maintaining a tight grip on product quality and fortifying ties, and receiving assistance from partners will be crucial for Vietnamese businesses to make their goods more competitive.

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