The positive results posted by Vietnamese manufacturers in support industries over the last 20 years have come mostly on the back of the development of the local motorcycle industry. Despite the government's policies to limit the number of vehicles on Vietnam's streets, there have been many opportunities in place for manufacturers to grow, according to Ms. Truong Thi Chi Binh, Vice Chairwoman and Secretary General of the Vietnam Association of Supporting Industries (VASI). "They are willing to be involved further in automobile support industries once volumes in the industry are sufficiently large, along with government support in terms of policies," she said. Bright side The Export Mechanical Tool JSC (EMC), the Nhat Quang Steel Limited Company, and the Manh Quang Mechanics Co. – three of VASI's 224 members – have posted good results from the flourishing motorcycle market. Reaching 3.38 million local and imported vehicles in 2018, Vietnam stood behind only India, China, and Indonesia in terms of sales. The members' average revenue in 2018 was nearly $10 million, according to Ms. Binh. "The figure is significant compared with the small scale of their business in a fledgling manufacturing industry," she said. "Our members continue to be trained to meet… Read full this story
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