More than 40 businesses are showcasing mechanical and electrical equipment and devices at an exhibition that opened in Ho Chi Minh City on June 1.

On display at the “HCM City Products Week 2023 - Mechanical and Electrical Devices and Digital Technology” are machinery, electrical equipment, and digital technology services and solutions.

Speaking at the opening ceremony, Tran Phu Lu, Deputy Director of the Investment and Trade Promotion Center of Ho Chi Minh City, said the event is expected to help local enterprises seek new business opportunities and promote exports.

Though the mechanical sector plays a vital role in industrial production it meets just 30 per cent of domestic demand for mechanical products, he said, while urging local companies to make improvements to join global supply chains.

Vietnam has around 25,000 mechanical and electrical businesses.

In the first quarter of this year, total export revenue of mechanics, equipment, tools, and other appliances reached $9.85 billion, down 3 per cent year-on-year, figures from the General Statistics Office show.

The exhibition will last until June 7.