Vietnam Expo 2018 gets underway in Hanoi

• Domestic cement consumption down, export market bright
• Mechanical engineering sector to lift exports by 2020
• 2018 export revenue from cultivated products targeted at $21bn

The expo has attracted 500 pavilions showing off 450 businesses from 23 nations and territories across the globe including Russia, Cuba, the Republic of Korea, Nepal, China, and Vietnam.

It is worth noting that this is the fifth consecutive year that a pavilion named “Vietnam – Korea Design Sharing” has been featured at the event with the involvement of a large number of Vietnamese and Korean businesses.

Vu Ba Phu, director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade (MoIT) highlighted the event as a good opportunity for Vietnamese businesses to engage directly with design experts to share innovative ideas for improving product value and contributing to business expansion and development.

Last year, more than 2,500 people visited Vietnam’s stall, while about 600 transactions were conducted, and ten major contracts were signed right after the expo.

Cooperation in the design process will help domestic businesses increase the value of their products and incentivized businesses to become further involved in the global supply chain, Phu said.

Deputy Minister of Industry and Trade, Tran Quoc Khanh, said that in the context of global economic fluctuations, Vietnam’s active participation in Free Trade Agreements (FTAs) is offering a wealth of opportunity for the business community.

Businesses and local and international investors need to seize the opportunities to cooperate for mutual development through the event, he noted.