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Made-in-Taiwan auto components prove to be a huge hit at Saigon exhibition

Made-in-Taiwan auto components prove to be a huge hit at Saigon exhibition

Brands of leading Taiwanese auto parts and accessories makers continue to capture the spotlight at the 11th Saigon International Autotech & Accessories Show in Ho Chi Minh City, reports said Sunday.

The four-day event organized by Asia Trade Fair and Business Promotion (ATFA) and Chan Chao International Co., Ltd., which runs from May 28 to 31, has been the showground for nearly 300 companies from around the world, of which more than 54 companies are from Taiwan.

The Taiwanese makers have been eyeing for business opportunities in the Vietnamese market, including leading air tools manufacturer Kymco Industrial Co., Ltd., Ekeen Precision Co., Ltd., automotive electronics experts Mobiletron Electronics Co., Ltd., and so forth.

“In 2014, Taiwan – Vietnam bilateral trade amounted to US$12.5 billion, a 8.59% rise compared with 2013. In turn, our investment in Vietnam has directly created more than 1.4 million jobs,” said Tang Ming-hui, director of the Taiwan Trade Center based in Ho Chi Minh City.

“Taiwan ranks fourth in foreign investment in Vietnam in 2014, a value of 18.81% higher than in 2013 because of continued economic development in Vietnam,” he explained.

Spurred by Taiwan’s emphasis on creating new products through synergies with other strong sectors in the country, the nation’s auto components industry total output in 2014 amounted to US$6.6 billion, a 5 percent growth from the previous year, according to the Taiwan Transportation Vehicle Manufacturers Association. The USA was the largest destination for Taiwanese auto parts with a share of 40.79% last year, followed by Japan, China, UK and Australia.

In recent years, Taiwan manufacturers have shown keen interests in exploring the rapidly expanding auto accessories market in Vietnam, of which it is currently the country’s 10th largest trading partner.

Updated : 2021-09-16 23:23 GMT+08:00