In recent years, driven by the "Belt and Road" Initiative, infrastructure investment in emerging Asian markets has steadily increased, which has also encouraged domestic equipment manufacturing enterprises to "enter" these new markets. Recently, at the construction site of Vietnam's North-South Expressway, multiple Zoomlion tower crane products are under construction—another national key project in the region supported by Zoomlion.
Relevant information shows that the North-South Expressway, with a total investment of approximately RMB 13 billion, is a national key project of Vietnam. The highway, over 1,000 kilometers long, is a major transportation artery passing through the capital Hanoi and running through the north and south. Upon completion, it will serve as the foundation for other expressways in Vietnam.
Zoomlion's large tower crane equipment is mainly involved in the construction of the Long Thanh – Dau Giay Expressway section. According to the relevant person in charge of Zoomlion's Vietnam region, this section is contracted by Vietnam's famous local construction company—Transport Engineering Construction Company No. 4. "They purchased two of our machines in 2010. Due to superior quality and efficient completion, they purchased multiple machines this time, with more than 10 machines jointly stationed at the site for construction."
The client stated: "With the highly efficient construction of Zoomlion equipment, completion in 2018 can be guaranteed."
It is understood that in recent years Zoomlion has focused on emerging Asian markets, and its development in product export, agency cooperation, after-sales service, and spare parts supply has become increasingly mature and complete, with offices across Vietnam, Singapore, the Philippines, Malaysia, Indonesia, Thailand, Iran, Kazakhstan, and other countries.
Taking Vietnam as an example, Zoomlion has deeply cultivated the Vietnamese market for many years and owns a wholly-owned subsidiary—Zoomlion Vietnam Co., Ltd. In the Vietnamese market, its market share of concrete pumping equipment and construction crane products ranks first among domestic construction machinery equipment exporters, and its tower crane products have also participated in multiple key projects. Meanwhile, by developing localized products, it better integrates into the local market.
In early 2017, Zoomlion's L125-10F luffing jib tower crane successfully entered the Vietnamese market. The technical level, product quality, and performance of the L125-10F luffing jib tower crane closely meet local customer needs and have been widely recognized by local customers since its launch.
According to the person in charge of the Vietnam region, in 2018 the Vietnamese subsidiary will further "localize" by establishing a spare parts warehouse, carrying out equipment leasing business, and emphasizing the development of local employees, to develop the Vietnamese subsidiary into a comprehensive company integrating sales, service, spare parts, leasing, financing, and other businesses.
Industry experts point out that at present, emerging Asian countries attach particular importance to infrastructure construction. For example, infrastructure construction invested by the Vietnamese government and private sector accounts for 5.7% of GDP, and Indonesia and the Philippines also account for 3% of GDP. This pace is expected to further accelerate, which will also attract more domestic equipment manufacturing enterprises to support construction and development here.