Opportunities for businesses to develop the electricity and energy industry

In the context of Vietnam's efforts to shift towards developing a clean, green economy, the application of advanced equipment and automation lines is always a priority, especially in the manufacturing and metallurgical industries.

Joint venture cooperation and product development between Vietnamese enterprises and foreign partners being endowed with advanced technology in processing and manufacturing industries that meet the criteria "Green trade, energy and green industry" is an urgent need.

Green brands are becoming a popular concept as consumers' needs and criteria for using environmental friendly products are increasingly high. Accordingly, green transformation, green production, green trade, green consumption, green growth and development have become an inexorable trend, not an option for countries around the world.

The 19th International Exhibition on Industrial Machinery, Equipments, Materials and Products in Vietnam - Vinamac Expo 2024, with the theme "Towards green production, trade, energy and green industry", held on May 16 - 18 in Hanoi is an opportunity for organizations and businesses to promote products, increase experience exchange, seize investment opportunities, expand markets, enter into joint ventures, and transfer technology to improve efficiency in production and business.

Mr. Pan Yue Long , Chief Supervisor cum Head of China Electricity Council (CEC),  shared that the promotion of green and low-carbon energy development has become a common awareness worldwide. He proposed three suggestions for building and promoting future cooperation between C Vietnam and China in the energy field.

The first is to actively promote transformational cooperation in the field of green energy and low carbon in the region. Second is to strengthen cooperation in the field of electricity science and technology innovation. Third is to work together to build a mutually beneficial electricity industry ecosystem.

"Green energy and low carbon will be a hot spot in power and energy industry cooperation between China and Vietnam in the future," he said. "China and Vietnam need to work towards common aspirations for energy development, maximize their advantages and take advantage of good opportunities at Vinamac Expo 2024 to further enhance China-Vietnam power and energy industry cooperation to achieve win-win goals, continue to promote power and energy cooperation between the two countries."

According to a representative from Waison Group, who joined the exhibition, with the extremely strong development of Vietnam, the group hopes that its high-tech products can be shared and support Vietnam to grow stronger.

Besides foreign brands, many booths of Vietnamese businesses were also present and affirmed their production capacity in the fields of industry and green technology.

Mr. Le Thu Quy, Chairman of Vietnam Welding Society also noted thanks to the rapid development of mechanical industry, local-made manufacturing equipment is gradually replacing imported products, asserting the position of domestic manufacturing industries for welding and metal processing machineries. "Vietnamese enterprises have been persistent in their effort for global integration," he said.

Mr. Le Hoai Phuoc, Chairman of Ho Chi Minh City Automation Association, said the opportunity for Vietnamese businesses is to quickly access the use of machinery and equipment, then businesses will promote and transform it into their products in the future.

Organised by the Vietnam Advertisement and Fair Exhibition JSC and the Ho Chi Minh City Enterprise Support and Development Centre, the Vinamac Expo 2024 has over 300 booths set up by 250 Vietnamese and foreign businesses in industrial machinery and equipment, control and automation, metallurgy, hand tools, welding and cutting technology, metal processing, electricity and energy.

Mr. Mai Quoc Hoi, Vice Chairman, Secretary General Vietnam Electrical Engineering Association affirmed the Exhibition is highly anticipated to be a significant event for the electricity industry in 2024. It not only commemorates the 70th anniversary of the founding of Vietnam's Electricity Industry (December 21, 1954 - December 21, 2024) but also demonstrates the industry's commitment in implementing the National Power Development Plan durring the 2021-2030 period with a vision to 2050, approved by the Prime Minister in April 2024. 

"I believes that the Exhibition will bring the practical opportunities for local and international manufacturers to seek for business cooperation, technical and technological exchange as well as enhance product and service quality," said Mr. Hoang Quang Phong, Vice Chairman of Vietnam Chamber of Commerce and Industry (VCCI).