Vietnam has emerged as a major production hub for the global supply chain, with manufacturing equipment upgrades promising huge business opportunities.
Intel, Samsung and Sony have set up manufacturing bases in Vietnam for its young labor force and proximity to China. Local machinery importers indicated that Vietnam's low case count of COVID-19 has attracted orders from other countries where production had to shut down.
A Vietnamese machinery distributor said 90% of the manufacturers in Vietnam are small to medium businesses, and many of them operate in cramped spaces with second-hand machines. But there are many others who are now looking to invest in automation and precision equipment in order to satisfy demand from US and EU clients.
The distributor said that manufacturers need to have upgraded equipment first before they can obtain bulk orders.
Vietnam is the eighth largest importer of machinery tools. Ho Chi Minh City Electrical and Mechanical Business Association (HAMEE) president Do Phuoc Tong said Taiwan's machinery and equipment has higher quality and good pricing and that this is a great opportunity for Taiwanese machinery manufacturers in Vietnam.
