Boeing says Vietnam attractive for manufacturing plants for aircraft parts
HANOI - Vietnam is an attractive place to develop manufacturing plants for aircraft parts, but the communist country needs to first introduce more reforms, an executive from Chicago-based Boeing Co. said Tuesday. Following a symposium in Hanoi that brought together Boeing and its partners and suppliers with Vietnamese government officials, Boeing representatives said Vietnam represents an appealing environment to create assembly line manufacturing plants.
"Vietnam has a very youthful, very energetic and well-educated work force that could provide many competitive capabilities in this industry," Wade Cornelius, Boeing's vice president for business development and global strategy, told reporters at a news conference.
But Vietnam would need to develop a better legal framework and increase standards to satisfy U.S. safety requirements before any manufacturing plants could be established, he said. Boeing has been competing with European rival Airbus to supply Vietnam with aircraft. There are currently three state-owned airlines in Vietnam - flagship carrier Vietnam Airlines, Pacific Airlines and Vasco Airlines - with a fleet of more than 30 aircraft. Boeing country representative Chris Flint said Vietnam has signed a memorandum of understanding to work toward acquiring Boeing's new 7E7 Dreamliner that's expected to be launched in 2008.
The United States and Vietnam signed a landmark trade pact in 2001 shortly after Vietnam Airlines formally agreed to purchase four long-range Boeing jetliners worth $680 million.Other forum participants included Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Fuji Heavy Industries, Rolls Royce, Pratt & Whitney and GE Aircraft Engines.
The Associated Press - August 24, 2004
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