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In recent years, the annual growth rate of the output value of Vietnam's chemical machinery manufacturing industry has exceeded 19%. However, there are not many chemical machinery enterprises in the country, and the distribution is relatively decentralized. The self-sufficiency rate of chemical machinery and equipment is less than 50%. China's chemical machinery and equipment are of high quality and technological content, and their prices are moderate, which is very much in line with Vietnam's national conditions and the actual needs of enterprises. According to the analysis of the China-ASEAN Expo Secretariat, with the launch of the China-ASEAN Free Trade Area, China's chemical and machinery equipment industry will further expand its export advantages to Vietnam and other ASEAN countries. Chinese related companies should seize this opportunity to formulate corresponding market development strategies and gain greater market share.
Vietnam's chemical machinery and equipment market has significantly increased
With the economic recovery, Vietnam's rubber, plastic, starch and other industries have shown strong development momentum, and the supporting chemical machinery equipment manufacturing industry is also a key supporting industry in Vietnam. The relevant departments of Vietnam hope to strengthen exchanges with China in various forms and build cooperation platforms for enterprises of the two countries.