Sri Lanka-Viet Nam Machinery MoU to boost R&D and training to private sector

Among the many MoUs and agreements signed on 14 October between Sri Lanka and Viet Nam is the MoU on Machinery Manufacturing Cooperation (MMC).

“This MoU will facilitate bilateral cooperation on research and development and even training,” revealed Minister of Industry and Commerce Rishad Bathiudeen.

In addition to bilateral level cooperation, according to the MMC, both countries will also facilitate private sector companies (in their respective countries) engaged in the selected sectors that the MoU is focusing on.

The sectors that will directly benefit under the MoU are agriculture machinery (including harvesting machinery), electrical machinery and equipment manufacturing, machines connected with environmental management and industrial safety and environmental friendly technologies. 

This MoU was signed on Sri Lanka by Bathiudeen with the Vietnamese Ministry of Industry and Trade. The MI&C is the implementing partner agency on Sri Lanka’s side.

The MMC focuses on initiating a “comprehensive process of cooperation between the parties in the machinery and mechanical appliances including electrical machinery and equipment manufacturing sectors, with a view to improving industrial development and trade between the two countries”. First among the envisaged activities is the strengthening and promoting cooperation in the areas of machinery and mechanical appliances including electrical machinery and equipment manufacturing sectors. The MMC will also enhance cooperation in promotion of machinery manufacturing, including engines, tools as well as manufacturing of agricultural equipment and industrial equipment, “through provision of technical and financial support and technology transfer”.

Exchange of information and expertise by administrative means as well as exchange of visits by technical experts and high level officials is another activity that will take place under the MMC.

Also on the cards are organising seminars, workshops and training in the related machinery and mechanical appliances including electrical machinery and equipment manufacturing industries. Training for employees and officials of Viet Nam and Sri lanka in the areas of research and development, industrial production, industrial safety and technology transfer, and environmental management on agricultural machinery and equipment and industrial machinery and equipment reconciling of legal regulations, dispute settlement and business management can also now take place as a result of the MMC.