AMS at the Vietnam-Basque Business Networking Conference for Industrial Machinery Equipment Sector
Posted by Social AMS on 21st October, 2024
AMS participated in the Vietnam-Basque Business Networking Conference for Industrial Machinery Equipment. The event was organized by the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) in collaboration with the Basque Trade and Investment Center (Spain). The conference gathered many reputable and experienced companies in the mechanical industry. AMS leadership also took part in this significant event, with the aim of fostering trade cooperation and enhancing international partnerships in the industrial machinery sector in Vietnam. The conference concluded successfully, promising collaborative opportunities for the future.
The Basque Country, with a population of 2.22 million (4.6% of Spain's total), is the seventh-largest region in Spain. Its GDP stands at €79.35 billion, accounting for 5.9% of Spain’s total GDP, with a per capita GDP of €35,832—27.2% higher than the national average, making it the second-highest in Spain. Notably, the Basque region excels in machinery production, capital goods, metal products, and transportation equipment. Its exports make up 41% of the GDP, nearly 12 points higher than the national average. In 2022, Basque exports amounted to €32.556 billion, representing 8.4% of Spain's total exports.
The conference was designed to promote trade between the two regions, particularly by creating opportunities for businesses to connect and expand trade relations in key sectors such as industrial machinery, automation, and other industries.
In her opening speech, Ms. Ho Thi Quyen, Deputy Director of ITPC, emphasized that Vietnam, particularly Ho Chi Minh City, has continuously sought to expand its markets and boost trade and investment activities following the global economic disruptions caused by the COVID-19 pandemic. The Basque Country is a promising and new market for many Vietnamese businesses, with strengths in technology and innovation. Though relatively unfamiliar to Vietnamese companies, the Basque region is ranked among Europe’s leading innovation hubs, with a dynamic economic ecosystem. Its industries focus on machinery production, capital goods, metal products, and transportation equipment.
AMS representatives engaged in discussions with Basque business partners at the event. Speaking about the occasion, Mr. Leslie Goh, a representative of AMS, said, "As a trading and technical service company, AMS continuously strives to connect and foster long-term commercial relationships. Our goal is to create sustainable value, contribute to the economy, and elevate Vietnam’s mechanical industry to the global stage."
According to Mr. Pablo Huidobro, Director of the Basque Trade and Investment Office in Singapore, "Vietnam is seen as a potential market and an ideal destination for investment and business. Several Basque companies, such as Ormazabal, Salto Systems, Sammic, Ategi, and Iberdrola, have already established representative offices in Vietnam, showing growing interest in Vietnam’s investment environment, particularly in Ho Chi Minh City."
AMS expressed confidence and pride in the strong partnership between Vietnamese and Basque companies. As a leading supplier of precision mechanical components and related industrial products, AMS aims to leverage the conference to promote and strengthen trade cooperation with key industry leaders in sectors such as oil and gas, energy, mining, agricultural machinery, railways, and more.
The Vietnam-Basque Business Networking Conference has opened doors to bilateral cooperation and growth for both regions. AMS is fully committed to continuing the success of this event and will actively promote further collaborations to contribute to Vietnam’s industrial growth and future success.
AMS Company, Ltd.
