On the sidelines of the Vietnam International Sourcing Fair (VIS) 2025, and with support from the Vietnam Trade Office in Sweden, a Latvian business delegation held a working session with the Vietnam Association of Mechanical Industry (VAMI) to seek cooperation in boiler production and mechanical equipment manufacturing.
VAMI is a national professional organization uniting enterprises, research institutes, universities, cooperatives, and individuals active in Vietnam’s mechanical engineering sector. The association plays a key role in connecting companies, promoting research and technology transfer, supporting mechanical production development, and providing policy advice to foster the sector’s sustainable growth and global integration.
During the meeting, Latvian companies—including boiler manufacturers—shared their need to expand production capacity and diversify supply chains. They noted that labor shortages and high labor costs in Europe are creating challenges, while demand for mechanical equipment in the Baltic region and Europe continues to rise. Consequently, they are interested in investing in factories or relocating part of their production to Vietnam to reduce costs and increase output for both domestic use and exports to other Baltic countries.
VAMI welcomed these proposals, presenting Vietnam’s production capabilities, member enterprises, and key mechanical industrial zones. The association affirmed its readiness to facilitate market studies, partner searches, and investment surveys.
The meeting is seen as an important first step toward investment cooperation and technology transfer between the mechanical industries of Vietnam and Latvia, opening opportunities for exports, contract manufacturing, and high-quality mechanical equipment production for both sides in the near future.