VEAM promotes manufacturing of traditional products
The Vietnam Engines and Agricultural Machinery Corporation (VEAM) is pooling efforts to boost manufacturing of its traditional products to win against imported ones, especially those imported from China, in the domestic market.
VEAM’s engines and agricultural machinery has created a firm foothold in the local market with expanding market share.
In 2000, the corporation occupied only 5% of the domestic market. The figure has now been increased to 25% and is expected to reach 30% later this year.
In comparison with products of the same kind imported from the US and Japan, VEAM’s products have the same quality while they are sold at half the prices of those imported ones.
In addition, VEAM’s products have been exported to countries in Asia and Europe.
In the coming time, VEAM targets to export their products to new markets of Sri Lanka, Madagascar and Dominica.
Phu Yen: over 100 new enterprises established
Phu Yen province has granted licences for the establishment of 101 enterprises since the beginning of this year.
These include 53 private enterprises, 40 limited and eight holding companies.
These new enterprises have a total registered capital of VND 205 billion.
In the first six months of this year, non-State industrial and handicraft enterprises in Phu Yen province achieved a total production of VND 892 billion, up nearly 45% against the same period last year.
