Vietnam’s industrial production maintained its positive trajectory in the first half of 2024, building on the recovery momentum from late 2023 and early 2024. According to statistics from the General Statistics Office, the total added value of the industry sector for the first six months of the year is estimated to have increased by 7.54% year-on-year (with a 6.47% increase in Q1 and an 8.55% increase in Q2).
The manufacturing industry led the growth with an increase of 8.67% (7.21% in Q1 and 10.04% in Q2), contributing 2.14 percentage points to the overall economy’s value-added growth. The electricity production and distribution industry followed with a 13.26% increase, contributing 0.5 percentage points, while the water supply and waste treatment industry grew by 7.13%, contributing 0.04 percentage points.
Mr. Ben Wong, General Director of Informa Markets Vietnam, commented that these figures are a positive indication of the growth of the industrial sector as a whole and the manufacturing industry in particular, presenting attractive investment and collaboration opportunities.
In line with the Political Bureau’s orientation on developing the national industrial development policy towards 2030 and vision for 2045, the goal is to achieve a manufacturing industry contribution of approximately 30% to GDP by 2030, with the manufacturing sector accounting for over 20%.
There is a growing demand in factories for advanced machining solutions and automation to reduce downtime and improve accuracy, thereby enhancing operational efficiency.
In recent years, the Vietnamese robot market has been experiencing robust growth due to the increasing demand from enterprises for automation solutions to optimize productivity, ensure accuracy, enhance safety, and reduce labor and operating costs.
According to Statista’s forecast, the Vietnamese robot market is expected to witness explosive growth in the coming years, with estimated revenue reaching US$356.7 million in 2024. Industrial robots are anticipated to lead the market, with an expected market value of US$309.8 million in the same year. By 2028, the Vietnamese robot market is projected to reach US$391.9 million.
Mr. Nguyen Quan, Chairman of the Vietnam Automation Association, stated that there is no manufacturing industry that is not embracing automation technology, especially in the era of smart automation and artificial intelligence (AI). Enterprises in the processing and manufacturing industry need to enhance cooperation to promote the automation process and strive towards the development of a digital and sustainable economy.
Seizing this trend, the 20th edition of the International Precision Engineering, Machine Tools, and Metalworking Exhibition and Conference – MTA Vietnam, organized by Informa Markets Vietnam, is taking place from July 2 to 5, 2024, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City.
The exhibition features 323 exhibitors from over 15 countries and territories, including India, Poland, Taiwan, Germany, South Korea, the United States, Hong Kong, Malaysia, Japan, Singapore, China, Thailand, Turkey, Italy, and Vietnam.
Notable companies participating in the exhibition include Amada, Trumpf, Salvagnini, LVD, Jinan Bodor, Yamazen, Hwacheon, Roeders, United Grinding, Makino, Mazak, Haitian, Blum, and MST. The exhibition is expected to attract 16,000 specialized visitors.
Commenting on MTA Vietnam 2024, Mr. Ha Minh Hiep, Deputy Director General of the General Department of Standards, Metrology, and Quality, Ministry of Science and Technology, stated that through this event, manufacturers can promote their new products and technologies, and enterprises can find the most optimal operational solutions for their production lines.
