TAIPEI (Taiwan News) – Taiwan has emerged as the second biggest participant in PROPAK Vietnam 2019, an international trade fair for processing and packaging industries, taking place in Ho Chi Minh City between March 19 and 21.
Th annual event is dedicated to networking of suppliers involved in the food, drink and pharmaceutical processing and packaging sectors, bringing together 540 exhibitors from 31 countries, according to the Taiwan External Trade Development Council (TAITRA).
Taiwan saw 23 machinery manufacturers led by TAITRA participate in the trade show, second only to Germany. It signifies the island’s growing interest in the Southeast Asian country with untapped potential in the processing and packing industries.
With the advent of the“industry 4.0” revolution, characterized by cyber physical systems in the so-called “smart factory,” the packaging and processing industries have also embarked on the trend of automation and customization.
Taiwan has acknowledged the importance of machinery renovation so as to stay ahead of the game, by pushing for inventions such as highly efficient automated packaging systems.
Taiwan is the sixth biggest trade partner for Vietnam, with bilateral trade amounting to more than US$1.63 billion in 2018. Vietnam is projected to log a remarkable GDP growth rate of 6.9 percent in 2019, following a record-breaking 7 percent last year, said TAITRA.