Featured Image

VP Harris Trip to SE Asia Consistent with AMT Global Services Strategy

The market potential for manufacturing technology in Southeast Asia led to an AMT initiative to develop services to build and expand its members' market share there.
Sep 14, 2021

Last month, Vice President Kamala Harris traveled to Singapore and Vietnam, underscoring the Biden administration’s commitment to strengthening United States’ economic ties with the two countries. AMT‘s research supports the value of this relationship-building. The market potential for manufacturing technology in Southeast Asia led to an AMT initiative to develop services to build and expand its members' market share there.

Vietnam and Singapore have made considerable strides to convert to a digital economy and expand advanced manufacturing markets. For example, in 2018, Vietnam opened its first national global intelligent mobility company, VinFast, the largest private corporation in Vietnam. It produces cars and electric motorbikes and plans to make electric vehicles, SUVs, trucks, scooters, and other people movers. 

Government support has helped fuel the advanced manufacturing expansion. Both countries’ governments implemented business-friendly policies that have attracted an influx of Fortune 500 companies. The Singapore Economic Development Board (EDB) offers valuable resources, from government incentives to vetted business partners, for international businesses. AMT member Acme Manufacturing has had great success working with the Singapore EDB, and it was instrumental in Acme opening its new facility, Acme Singapore, in 2019

Singapore EDB’s Smart Industry Readiness Index (SIRI) is on AMTs’ radar. Established in 2017, SIRI is a partnership of leading tech companies, consultancy firms (including Accenture, Boston Consulting Group, and McKinsey), and industry and academic experts providing a suite of frameworks and tools to help manufacturers start, scale, and sustain their manufacturing journey, regardless of their size. Earlier this year, at the request of the World Economic Forum, AMT Vice President and CTO Tim Shinbara began evaluating and tracking member involvement with SIRI to determine its effectiveness and value. 

With global supply chains disrupted, the vice president’s trip to Southeast Asia was a significant stride toward strengthening investment, business development, and supply chain resilience in the United States. Southeast Asia offers a wealth of opportunities for AMT members, and AMT is committed to continued exploration of the region to expand member opportunities. AMT News will continue to report on relevant developments by the U.S. government, Southeast Asian countries, and “boots-on-the-ground” experiences. Stay tuned.

PicturePicture
Author
Edward Christopher
Vice President, Global Services
Recent international News
Brazil revs up with massive automotive investments while Mexico sees lots of new developments across all sectors. The two great engines of Latin America are making the soft landing happen. For more industry intel and other tidbits, read on.
As global financial conditions worsen, Latin America grows brick by brick – literally; Lego invests big in Mexico. Brazil’s CEITAC has a chip on its shoulder. Nuevo Leon saw $8 billion invested in 2023. For more industry intel and other tidbits, read on.
Interested in selling advanced manufacturing technology internationally but not sure about servicing those machines? AMT provides experienced, in-country technicians to members for installations, maintenance, and repairs at a fraction of the cost and time.
European and Chinese companies invest millions in Mexico, expanding automotive and manufacturing capacities. Nuevo Leon leads nearshoring projects. Brazil unveils a $60 billion industrial policy package. For more industry intel and other tidbits, read on.
What lies ahead for Latin America's largest economies? How are uncertainties affecting the investments and resilience of the two engines of the region? For more industry intel and other tidbits, read on.
Similar News
undefined
International
By Arun Mahajan | Apr 24, 2024

How high will India’s PMI go? Passenger vehicle sales hit an all-time high, and opportunities in defense, energy, construction, and other sectors grow as the country’s robust markets thrive. For more industry intel and other tidbits, read on.

5 min
undefined
International
By Conchi Aranguren | Apr 19, 2024

European defense initiatives and industrial expansion are booming and are now driving the economy of the old continent, especially in Poland. Spain sees big investments in automotive and aerospace. For more industry intel and other tidbits, read on.

5 min
undefined
Intelligence
By Christopher Chidzik | Apr 18, 2024

February 2024 U.S. cutting tool consumption totaled $214.6 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.

3 min