Brainport high-tech manufacturing industry to explore investment possibilities in Vietnam | News item

News item | 15-03-2023 | 03:24

“ASEAN offers a lot of potential for growth in business, cooperation in innovation, and becoming a manufacturing hub for the region and the world, especially in high tech,” said Eelko Brinkhoff, Director Foreign Investments & International Trade at the Brabant Development Agency (BOM).

This mission is organized and coordinated by the Brabant Development Agency (BOM), Brainport Industries and the Dutch diplomatic missions in Vietnam. Mission participants are businesses active in the high-tech manufacturing industry, namely Bestronics, AAE BV, BKB Precision, HQ Group, KMWE Group, Sempro, Sioux Technologies, and VDL. Most of which are part of the supply chains of big original high tech equipment manufacturers (OEMs) globally.

“OEMs are now increasingly outsourcing the design and development of the equipment they manufacture as well. This shift is driving suppliers to push their own boundaries in terms of feasibility and responsibility and to extend their reach across international borders in order to tap into new, foreign markets. Therefore, we are exploring the possibilities to expand our business in ASEAN,” shared John Blankendaal, Managing Director, Brainport Industries.

“Vietnam is emerging as an attractive destination for high-tech investments. By supporting Dutch businesses in the high-tech manufacturing industry to do business in and with Vietnam, we aim to make international supply chains more resilient. This provides great opportunities for Vietnam to develop into a center for the industries of the future,” said Ambassador Kees van Baar.

Brabant is the hotspot of innovative ecosystems in high tech, life sciences and health, agrifood, and data science in the Netherlands as well as in Europe. It is the #1 European region in R&D spending, and more than 50% of all European patent applications are generated in the region. Brabant is home to billion-dollar high-tech corporations like Philips or ASML. In his visit to North Brabant province last December, Vietnam’s Prime Minister Pham Minh Chinh called for Netherlands’ assistance in hi-tech and innovation development in Vietnam.

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The Netherlands is now the and the largest EU direct investor in Vietnam with a cumulative investment of USD 13.71 billion by end of 2022. The Netherlands remains the largest export destination in the EU for Vietnam in 2022, and ranks 6th worldwide. Vietnamese exports to the Netherlands reach USD 10.43 billion in 2022, an increase of 36% compared to last year. The EVFTA and EVIPA foster the continued growth of two-way trade and investments between Vietnam and the EU countries, amongst them, the Netherlands.

Vietnam and the Netherlands jointly celebrate more than 400 years of people-to-people contacts and 50 years of bilateral diplomatic relations in 2023.

About BOM: The Brabant Development Agency (BOM) is a public entity that builds bridges between entrepreneurs, knowledge institutes, and authorities. It was established in 1983 by the Province of North Brabant and the Ministry of Economic Affairs at the urging of the labor movement as the economy of Brabant was in urgent need of a fresh kickstart. More info: www.bom.nl

About Brainport Industries: Brainport Industries represents 200 high-tech manufacturing companies based near the Dutch city of Eindhoven. Brainport industries are jointly formed up by the tier-one, tier-two, and tier-three suppliers in the open high-tech supply chain in the Netherlands, which design, develop, and manufacture leading, advanced, precise, and intelligent high-tech equipment. More info: www.brabantisbright.nl.

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