The need for strong development of infrastructure in Vietnam is attracting more and more foreign businesses in the geotechnical engineering industry to come and set up business in Vietnam.
Geonia, a leading corporation in Korea specializing in the production of high quality geotextile product (the fabric with permeability, when using to line in the soil, it is capable of separating, filtering, protecting, processing strengthening and water drainage), which are expected to achieve strong revenue in Vietnam market.
According to Geonia’s Chief Representative in Vietnam, the Government of Vietnam is promoting the construction of road and port infrastructures; therefore the demand for geotextile products is very huge. Vietnam has built a number of highways and Geonia has provided this product, with revenues of more than 5 million USD in 2014 and approximately 5 million USD in 2015. In the coming years, revenue can increase; even twice when many projects in Vietnam are performed.
At the 3rd International Conference on Geotechnical took place recently in Hanoi, not just Geonia, there were nearly 50 other foreign companies participated and wanted to find out the business investment opportunities in Vietnam, through the establishment of partnerships, joint ventures and promoting the sale of geotechnical products in Vietnam market.
According to Sales Manager of ACE Geosynthetics Company (Taiwan), until the end of 2016, this Company will set up partnership with 5 enterprises in Vietnam, bringing the total number of partners to 18, although ACE Geosynthetics has not have official investment and trade activities in Vietnam. Currently, ACE Geosynthetics is the leading exporter of geothermal synthetic products in Asia.
ACE Geosynthetics could set up factory in Vietnam in the future. Last year, ACE Geosynthetics has achieved sales growth at 2 figures. In 2016 and 2017, ACE Geosynthetics also expect to achieve such results.
Meanwhile, according to Director of Sanshin Construction Corporation (Japan), Sanshin is considering setting up partnership with local business to implement a number of large infrastructure projects in Vietnam, beginning from 2017.
Since early of this year, Sanshin has partnered with Technical Link Construction Company (Vietnam) to implement a number of industrial infrastructure projects in the southern region. In the next year, these two enterprises will jointly implement a number of other similar projects.
Many construction enterprises from Japan are coming to Vietnam for the construction of infrastructure projects. Therefore, Sanshin also wants to expand its presence here to cooperate with Japanese companies.
According to construction experts, Vietnam is a country located in geographic areas with complex geological conditions; therefore the selection of foundation solutions for infrastructure is extremely important.
In the strategy to 2020, Vietnam will basically become an industrially developed towards modernization country, so the demand for infrastructure development, industrial development, urban development during this period is very large. In particular, the Government has been setting up special policies giving priority to infrastructure development in all industries and sectors. This is the opportunity for businesses and investors at home and abroad.
According to Vice President of International Society for Soil Mechanics and Geotechnical Engineering, in Vietnam, in addition to forms of public transport in major urban centers, the economic development requires faster means of transportation over long distances. Therefore, high-speed rail and highways will soon become urgent needs. This shows that the demand for geotechnical engineering will increase in the very near future. This is the investment opportunity for many businesses.
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