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Overseas auto parts suppliers eye Vietnamese market
Date: 3/16/2017 11:25:41 PM
Vietnam’s strong auto market growth has attracted foreign parts suppliers to come to sound out business opportunities in the nation, heard Automechanika HCMC 2017, an auto spare parts and accessories fair that kicked off in the city on March 15.
Launched on March 15, the first edition of Automechanika HCMC aims to become Vietnam’s leading regional trade fair for the automotive aftermarket industry.
Co-organized by Messe Frankfurt (Germany), Chan Chao International Co Ltd (Taiwan) and Yorkers Exhibition Service Vietnam, the three-day show is featuring products of 350 exhibitors from 18 countries and territories at the Saigon Exhibition and Convention Center in HCMC’s District 7.
Kyungjin Choi, a representative of Neo Ctr Co Ltd, South Korea’s manufacturer of motor vehicle parts and accessories, said as auto consumption in Vietnam is on the rise, her company wants to cash in on opportunities in the country.
She added local customers have paid stronger attention to South Korean car brands like Hyundai and Kia, so this is expected to create favorable conditions for her enterprise to do business here.
Meanwhile, Iverson Lin, sales manager of Taiwan’s Shiniest Industries Inc., said the emerging auto market has proved considerable potential for growth in the coming time.
Taiwanese enterprises have shown their keen interest in the Vietnamese market. Thus, the Taiwan External Trade Development Council and seven other associations have led 60 enterprises to take part in the event with an aim to expand their sales networks in Vietnam, according to Steven Chan, a representative of Chan Chao International Co Ltd.
The fair organizer said international exhibitors making up 83% of the total have grown more optimistic about Vietnam’s auto industry.
The Association of Small and Medium Enterprises (Singapore), the Fair Trade Mediation Agency (South Korea) and the Thai Auto Parts Aftermarket Association or TAPAA, have brought 75 exhibitors to the event.
Nattawat Bunworaset, president of TAPAA, said the demand for autos has grown strongly in Vietnam. The purchasing power is forecast to grow in line with the improving living standards of local residents, so it is time for Thai auto parts suppliers to enter the Vietnamese aftermarket market.
(Source:english.thesaigontimes.vn)
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