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Vietnam seeks to boost domestic defence industry as it hosts arms fair

investing.com 18/12/2024 - 02:58 AM

Vietnam Showcases Local Weapons at International Arms Fair

By Francesco Guarascio and Khanh Vu

HANOI (Reuters) – Vietnam will showcase locally made weapons at an international arms fair in Hanoi on Thursday, aiming to boost its domestic industry and potentially export military equipment.

Among the nearly 250 exhibitors will be top defence companies from the United States, Europe, Turkey, and countries at war with each other, such as Israel, Iran, Russia, and Ukraine.

The Southeast Asian nation is a major importer of weapons, particularly from Russia, and has invested for years in its defence capabilities amidst tensions with China over boundaries in the South China Sea.

Recently, however, Vietnam has strengthened its domestic defence industry, with a priority on exporting military products, according to defence ministry officials.

State-owned firm Viettel and other local companies will display missile defence systems, drones, air defence radars, armoured vehicles, and artillery, with some weapons being showcased for the first time, said Nguyen The Phuong, an expert on Vietnam security at Australia's University of New South Wales.

A key strategy to enhance the local industry has involved signing deals with foreign arms exporters to manufacture some components in Vietnam. Negotiations are ongoing with South Korean firms for potential new deals, especially in artillery and aviation.

RIVALS' GEAR ON DISPLAY

At the expo, Iran's defence ministry will have an entire pavilion near Israel's firms Israel Aerospace Industries and Rafael Advanced Defense Systems. Russian firms will have a dozen booths, along with Ukraine's Motor Sich, a manufacturer of aircraft engines.

Turkey's delegation, one of the largest, will include a dozen defence companies, such as Aselsan, Turkish Aerospace Industries, and Roketsan. Notably, China's Norinco will be one of two Chinese exhibitors, marking a first for a Vietnamese defence fair.

U.S. defence giants Lockheed Martin, Boeing, and Textron Aviation Defense will also participate, having engaged in talks with Vietnamese authorities regarding the sale of helicopters. Lockheed is also discussing a possible deal on C-130 Hercules military transport planes, according to sources.

Brazil's Embraer will exhibit its C-390 Millennium plane, a competitor to the C-130. Top European defence firms, including Airbus, BAE Systems, Rheinmetall, Leonardo, and Thales Group, will also be present at the event.




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