Overview of the Construction and Mining Industry in Vietnam and How to Buy Equipment.

Vietnam

Vietnam is a Southeast Asian country on the eastern edge of the Indochina peninsula. It shares its border with the South China Sea, the Gulf of Thailand, and neighboring countries, including Cambodia, China, and Laos.

• Vietnam has a population of 96.46 million.
• Capital: Hanoi
• Official Languages: Vietnamese
• Total Area: 331,212 km²
• Currency: Vietnamese dong (₫)

Economic Statistics of Vietnam

As of 2019, Vietnam had a Gross Domestic Product of $329.54 billion, projected to be at $530.28 billion by 2025. Overall, the economy ranks 17th among 40 countries of the Asian-Pacific region.

Economic Sector Divide

Vietnam’s economy was majorly contributed by the agricultural sector but has now been surpassed by the industrial and service sector.

The 2019 stats show the following contribution:

• Agriculture: 13.96%
• Industry: 34.49%
• Services: 41.64%

Trade Statistics

Here are the main import and export partners of the country:

Major Import Partners

• China: 32.9%
• South Korea: 19.2%
• Japan: 6.15%.
• Thailand: 5.12%

Main Export Partners

• China: 19.6%
• Japan: 7.43%
• The United States:18.1%
• South Korea: 7.09%

Industries of Vietnam

Mining Industry of Vietnam

The mining industry has a significant contribution to the country’s economy. It ranks 3rd in the largest mineral producers of Southeast Asia. The major minerals out of over 5000 deposits include coal and iron ore, phosphate, titanium, bauxite, and mineral construction materials.

The industry is majorly dominated by coal, with almost 8 billion tons of coal reserves. It’s also the primary energy source in the domestic market, powering the cement and power industry. The government demands downstream process and higher value production from the sector as it aims at exploiting the full potential of the sector in the interests of the economy.

There is plenty of potential in the country as far as mining equipment is concerned, and Camamach has got you covered with world-class equipment at reasonable rates.

Construction Industry of Vietnam

Despite the trying times, the construction industry of Vietnam has shown better performance in 2020 than other Southeast Asian countries. It contributed 2,122 trillion Vietnamese dong to gross domestic product (GDP). The major reasons lay behind the strategic national projects, and the industry is expected to add value by 8.2% in 2021. The construction industry is also looking to remain quite active as the increasing urbanization has pushed the government towards affordable housing schemes and other infrastructural projects.

Thus, the demand for high-quality construction equipment is also expected to increase. Fortunately, Camamach not only stocks all kinds of construction equipment but is one of the most trusted leading global suppliers of heavy equipment.

Seaports and Trading Hubs of Vietnam

The country is accessible through both land and the sea. The major seaports are:

• High Phong Port
• Vung Thau port
• Van Phong port
• Quy Nhon Port
• Quang Ninh Port

Camamach uses the High Phong port for imports.

What heavy machinery or equipment does Vietnam Import?

Since both mining and construction industries have a significant contribution to Vietnam’s economy, there’s also a great deal of heavy machinery import. Some major imports include Excavators, Backhoe Loaders, Bulldozers, Road Rollers, etc.

What regulations are there on importing equipment to Vietnam?

Here are the imports regulations concerning equipment in Vietnam that you need to know:

Importing License

You’ll be allowed to import in Vietnam under the investment license and a business registration certificate issued by the Department of Planning and Investment (DPI). The investment license also covers wholesaling goods to businesses. Direct business with consumers requires a trading license and takes 6 to 12 weeks.

Import Tax

Vietnam subjects your equipment to import and value-added tax that varies with the type of product.

Construction Equipment

The Vietnamese government has set quality testing for imported construction equipment under the Joint-Circular No. 58/2015/TTLT-BCT-BKHCN of MOIT and the Ministry of Science and Technology.

For further details, you can visit the International Trade Administration website or the Vietnam Customs website.

Why should Vietnam import equipment?

Here are some of the main reasons why Vietnam should import equipment:

• Availability: Compared to the local industry, an international supplier like Camamach is always ready to meet your demands.
• Rapidly Growing Infrastructure: Vietnams spends a significant portion of its GDP (6%) on infrastructural development. Such stats demand equipment imports.
• Equipment Quality: International suppliers give you additional benefits along with a high-quality product.
• High Equipment Cost: International suppliers can be considerably cheaper courtesy of domestic competition.

Where Can I Buy Equipment for Vietnam?

Camamach, after years of market experience, has built a stellar international reputation in supplying mining and construction equipment. We have been exporting equipment to clients in Vietnam. Feel free to contact us at [email protected] or WhatsApp us at +86-131-2037-9271 for a FREE quotation. We also ship worldwide. For other countries, check out our experience here.