Domestic-made construction machinery popular in Vietnam

At present, China-made construction machinery products are popular in Vietnam. The bilateral trade between China and Vietnam was 37.7 million U.S. dollars in 1991, and it has grown rapidly to 27 billion U.S. dollars in 2010, an increase of nearly 700 times. In 2010, the trade volume between the two countries was 27.33 billion U.S. dollars, an increase of 28% from 2009. China ranks third among the major importing countries in Vietnam. In the huge Sino-Vietnamese trade data, exports of construction machinery products accounted for a relatively large amount, and Vietnam also became a new hot area for the export of construction machinery.

There are three main reasons for the increase in the import volume of construction machinery products in Vietnam. First, with the development of Vietnam's economy, Vietnam’s infrastructure has entered a period of rapid growth. Infrastructure construction projects such as housing construction, highways, and power stations have been launched. The Ministry of Transport and Transportation recently stated that it has completed and there are few highways under construction. To meet the needs of the country’s economic and social development, an additional 6000km of expressways have been planned and a large number of equipment shortages have become the root cause of imported equipment in Vietnam. Second, the high quality and low price of Chinese-made engineering machinery has become the first choice for imports. According to reports, the chairman of the Vietnam Machinery Enterprises Association, Ruan Wenshu, stated that China’s machinery and equipment, especially cement, hydroelectric equipment and construction machinery, are of high quality and technological content. The price is moderate, and the amount of possession in Vietnam is very high, which is very much in line with Vietnam's national conditions and the actual needs of enterprises. In addition, China and Vietnam are close to each Other, have an advantage in transportation costs, and have a perfect after-sales service system. Third, the preferential tariff policies of the Vietnamese government have greatly reduced the cost of trade and prompted the rapid growth of bilateral trade between China and Vietnam. On January 9, the Ministry of Finance of Vietnam stated that, in accordance with the instructions of the government's Prime Minister on assisting the development of key machinery products, the Ministry has promulgated regulations for the implementation of equipment and materials imported for the production of key mechanical products and services for investment in the production of key mechanical products. Zero tariff.