Vietnam is a promising country with good growth momentum in processing and manufacturing industries. In the first half of this year, the industrial production index grew by 9.6% year-on-year, higher than the growth level in recent years, of which the processing and manufacturing industries grew by 9.95%, contributing 1.57 percentage points to the economic growth.
Vietnam International Industrial and Machinery Exhibition is becoming more and more a diversified and all-round comprehensive industrial exhibition, creating a favorable atmosphere for our industrial products to enter the Vietnamese market. The gross domestic product (GDP) of manufacturing and construction will account for 42% to 43% of the overall by 2020.
Vietnam's machinery industry foundation is weak, heavily dependent on imports, Vietnam's demand for machinery and technology is very strong, while Vietnam's local industry is still in its infancy, can not meet the needs of social development, 90% or more machinery and equipment need to rely on foreign imports, which is a rare opportunity for the development of Chinese machinery enterprises. At present, Japan and China's machinery products occupy the main market in Vietnam, China's machinery is good quality and cheap, convenient transportation, so China's machinery has become the first choice for Vietnam.