Tiếng Việt
Every year, Vietnam spends tens of billions of USD to import machinery, equipment, tools, and spare parts to serve the needs of production, exploitation, and construction investment, from industrial production, agriculture, to construction, transportation, mining, etc.
According to data from the General Department of Customs, the total import value of this group of goods in 2022, although slightly decreased by 2.4% compared to 2021, still reached 45.1 billion USD. Of which, for the group of machinery and equipment serving the construction industry alone, Vietnam spends an average of 5-6 billion USD per year to import.
The main machinery suppliers to Vietnam include China, Korea, Japan, and Taiwan. These four markets account for about 70% of Vietnam’s imported machinery sources due to competitive prices. This can be clearly seen in the import data in 2022, when China continues to be the largest market supplying this group of goods to Vietnam with a value of 24.29 billion USD, followed by South Korea with 6.24 billion USD, Japan with 4.29 billion USD.
Mr. Tong Van Nga, Chairman of the Vietnam Association of Building Materials, said that despite being significantly affected by the pandemic, in 2022, the construction industry still achieved growth of 8 – 8.5%. The national urbanization rate is estimated at 41.7%, an increase of 1.2% compared to 2021, synonymous with the excitement of the machinery and equipment market to serve investment in construction of works and projects.
In the trend of international development and competition right in the domestic market, domestic contractors have transformed in many aspects through investment in technology, equipment, and machinery to improve construction and management capacity. The development of technology and equipment helps construction enterprises improve efficiency and accuracy in construction, save materials, fuel, quantity and labor costs…
“The demand for importing and updating new types of machinery and equipment for the construction industry is forecast to continue to increase to achieve the industry’s growth target of about 6.5% in 2023”, Mr. Nga informed.
As a potential market in the eyes of international equipment manufacturers and suppliers, Vietnam is a destination for many foreign corporations and enterprises, aiming to increase sales of machinery and equipment for manufacturing industries.
It can be seen that the market for construction, transportation, and mining equipment and machinery in Vietnam largely depends on imported machinery. In the coming time, Vietnam will be a fertile land for many international manufacturers and suppliers of machinery and equipment.
