Vietnam's economic development is accelerating. The national General Statistics Office (GSO) announced the Gross Domestic Product growth at 7.08% in 2018, the highest in the past 11 years. In addition, new free trade agreements open up new markets and attract foreign investors. Although German imports account for almost 2.00% of the total amount of imports so far, German technology has an excellent reputation.
Moreover, the Vietnamese sector of machine tools is not well-positioned. While the Vietnamese government aims at establishing domestic machine and plant engineering, so far, local manufacturers are merely able to produce simple equipment. Consequently, the further industrialization of Vietnam is highly dependent on the import of machine tools.
Currently, Germany ranks sixth in the list of suppliers on the field of machine tools, after South Korea, China, Japan, Taiwan and the USA. However, apart from the United States, German manufacturers were able to maintain their position as the main Western supplying country. Over the past four years, German machine tool exports to Vietnam have risen by more than 150%, (2018 + 215%). The order intake from Vietnam has recently increased by a factor of 3.
The German machine tool industry offers technological solutions beyond the large quantity offers of Asian competitors that are highly appreciated by Vietnamese customers. Facing the Asian dominance and the huge potential of the Vietnamese market, German manufacturers will broaden their presence in this growing market.
In this context, the German Machine Tool Builders’ Association (VDW) organizes a technology symposium in Ho Chi Minh City for the second time after 2016, in cooperation with the supporting partner, the Delegate of German Industry and Commerce in Vietnam (AHK Vietnam).
You are cordially invited to the symposium where 10 German leading companies from the machine tool industry presenting their technological expertise. On the other hand, you will have the opportunities of discussion with these companies on their most innovative products and services through parallel matchmaking meetings.