작성일자: 2014.9.15

작성자: 하노이 무역관 Nguyen Quynh Chi(Nq.chi@kotra-hanoi.org.vn)

 

 

1. Market Overview and Demand

 

□ Vietnam economy Overview

 

 ○ Economic Condition

  - Vietnam’s macroeconomic fundamentals, competitiveness, increased market access and investment in infrastructure are key attractions for investors. Vietnam has recently made significant progress towards liberalizing its economy and attracting new foreign investment. GDP of Vietnam increased by 5.4% in 2013 and economy scope reached 176 billion USD with the average income per capita of 1,964 USD. The living standard and condition of Vietnamese people got a significant increasing rate. The prospect of people life has been changed increasingly positively. In 2014, World Bank’s Ease of Doing business has ranked all the countries in terms of different business respects. Vietnam ranked 70 out of 148 countries in World Economic Forum’s Global Competitiveness Index 2013, which means a high competitiveness level, improving from its 75th position (out of 144 countries) in 2012. The Global Competitiveness Index measures the microeconomics and macroeconomic foundations of national competitiveness. The improvement of Vietnam mainly came on the back of improving macroeconomic performance, increased market access and the developments in transport, construction and energy infrastructure.

  - In 2013, Vietnam’s consumer expenditure was US$ 105,850 million, ranking 50th out of 175 countries with forecasted growth rate from 2013 – 2018 being 5.9%, the same as Indonesia and higher than that of its neighbors Thailand (3.2%), Philippines (5.3%) and Myanmar (4.5%).

 

Vietnam’s consumer expenditure

       Source: EuromonitorInternation)

 

  - Although the household consumption average growth rate during 2009 – 2012 was 5.1%, a decrease compared to 8.9% average during the previous 4 years, the Nielsen Consumer Confidence Index indicates a recovery in consumer confidence in 2013.

  - Consumers in Vietnam are the most optimistic in Asia in terms of the economy prospect, with 95% saying that their children will have better life than they do, according to the Boston Consulting Group’s recent survey. This level of optimism is among the highest recorded across 25 countries surveyed in the previous year and is significantly higher than in China, India and Indonesia.

  - Regarding the consumption style, the survey pointed out that Vietnamese consumers, of all incomes, enjoy the hunt for deals, discounts and promotions, more so than consumers in Thailand and Myanmar. Consumers in Vietnam are among the most family oriented in Asia, with 69% saying that they never spend money on themselves before the family’s needs are met.

 

 ○ Construction Market

  - After jumping down sharply during the most terrified crisis of Vietnam real estate market on the period of 2010-2012, the construction industry resumed a notable recovery. In the common grey context while domestic economy is still in tough times; the real estate market remains sluggish; entrepreneurs are in a difficult situation with handle inventory and bad debt. Thanks to the Government’s effort in improving the market situation, the production value of the construction industry in 2013 (in current prices) reached to 770.41 trillion VND (an increase by 7 % compared to 2012). That also accounted for 5.94 % of the national GDP and is considered one of the positive factors in economic growth by 2013, according the annual report from Ministry of Construction of Vietnam.

  - By which, the total value of the whole construction industry of Vietnam in 2013 as summarizing by BMI earned 8.6 billion USD, rose by 5.85 % comparing with 2012. The market was uphold from the negative growth in 2011 (-1%) to the positive growth rated of 5.85% in 2013 and estimated to keep rising lightly in 2014.

  - The rate of urbanization country has continued to rise, reached approximately 33.47 %. The rate of covered construction planning reached 100 %; the rate between the plan by zoning and the plan by detail (1/2000) reached 70 % (an increase by 10 % compared to 2012). In particular, the average area in nationwide rose by 0.6㎡ / person and reached up to 19.6㎡ / person. There are about 1 million ㎡ of social housing, equivalent to about 20 thousand apartments; total cement production consumes got about 61 million tons, got 107.5 % over than the plan of year.

 

Vietnam construction market value and growth rate

       Source: BMI

 

  - Construction activity in Vietnam has made a slow start in 2014. Latest data from the Vietnam General Statistics Office reveals that the construction sector grew by 3.4% year-on-year (y-o-y) in real terms in Q114, slower than the 5.8% print in 2013. The growth slowdown in Q114 is due to the lack of capital spending by the government and the domestic private sector, the primary drivers of construction activity in Vietnam. According to the statistics department, construction activity from the public sector only grew by 1.4% y-o-y in real terms in Q114, while construction activity from the domestic private sector contracted by 1.9% y-o-y in the same quarter. In addition, latest data from the statistics department showed that work done in the infrastructure sector was at a pace much slower than initially estimated, with most of the construction recovery in 2013 driven by the residential and non-residential building sector.

  - Government’s role

   · However, it is expected a real growth for Vietnam's infrastructure sector to recover over the coming years due to the improving climate for infrastructure investment. The government also is a precious player in raising the market by some valuable policies relating with monetary conditions, regulation reforms, restructuring state-own enterprises.

   · The government is seeking to boost economic growth and has cut its policy rate to 6.50% in March 2013, the lowest policy rate in more than a decade. Given the lagged impact of monetary easing (the policy rate was at 7.00% for the majority of 2013 and at the start of 2014), any positive effects of this easing could last well into 2014 and in 2015.

   · The Vietnamese government also has made some progress in implementing regulatory reforms that eliminate existing hurdles to project execution such as permit approvals, environmental clearances and land acquisition. In November 2013, the Vietnamese government approved an amendment in its land legislation to limit the potential for land disputes - a perennial problem that has resulted in numerous infrastructure projects being delayed and suffering cost blowouts.

   · The government has also been making progress in reforming the regulatory framework for the use of public-private partnerships (PPPs) for infrastructure development. With a stronger regulatory environment for PPPs and project execution, that could secure sufficient funds to meet its infrastructure needs.

   · Besides that, the macro-fundamentals for construction growth from Government have been taking advantages progressively, especially in near-term construction recovery 5 driven by buildings. Latest data from the Vietnam General Statistics Office shows that the residential and non-residential building sector has reacted quicker to the positive macro-fundamentals for construction growth in Vietnam - rising economy activity and a record-low interest rate environment. The building sector had experienced real growth in 2013, compared to a contraction in the infrastructure sector over the same period.

  - FDI currency flows

   · FDI recently is a major factor driving our positive outlook for Vietnam's building sector with the sizeable inflow into the sector. According to the Ministry of Planning and Investment (MPI), total FDI inflows into Vietnam grew by 54.5% to reach USD 21.6 bn in 2013, significantly surpassing the government's full-year target of USD 13 bn. Furthermore, according to the MPI, the real estate sector achieved the second highest amount of FDI inflows amongst the 18 sectors between January and November 2013, while 84.1% of Japan's total investment capital into Vietnam, the country's largest foreign investor, and was channeled into manufacturing and processing projects. Latest data from the Vietnam General Statistics Office revealed construction activity from FDI grew by 162.5% y-o-y in Q114.

 

 ○ Real-estate Market

  - Another positive pointy for the industry sector is the early signs of recovery in residential sector. Although the sector is still suffering from significant oversupply (particularly at the high-end segment) and falling prices, unsold inventory of new residential units have fallen back to levels that are more moderate by historical standards. According to data from the Ministry of Construction, total real estate inventory value reached about VND 93 trillion in February 2014, a decline of 1.9% or VND 1.8 trillion from December 2013. This decline in total real estate inventory was brought on by a decline in unsold housing stock in key cities - namely Ho Chi Minh City and Hanoi. The value of unsold housing stock in Ho Chi Minh City fell by 4.3% to reach about VND 17 trillion in February 2014, while unsold housing stock in Hanoi fell by 2.8% to reach about VND13 trillion in the same period. In addition, the rate of decline in housing prices is slowing down, which could indicate growing demand for property.

  - The government's plan to increase the supply of social housing to low-and middle-income groups is also moving forward, with several large-scale social housing projects and programmers (such as the government's VND 30 trillion stimulus package for low-interest home loans) being implemented. In August 2013, the Ministry of Construction 6 announced that there were 50 projects, valued at around USD 1 billion, registered to convert 34,000 units of commercial houses to social houses.

  - Outstanding loans to property have increased 14.7% in 2013. According to data from the State Bank of Vietnam, by 31 December 2013, outstanding credit invested in real estate business production reached to 262 107 billion VND, up 14.7% compared to the previous year. 4% of the credit package 30.000 billion VND has been disbursed until the end of Feb 2014. State Bank said banks had loans from 2,704 customers with a total commitment to reach 2,714 billion VND. Of these, 2,673 were disbursed to customers with total loans of 1,206 billion VND accounting for 4.02% of the total value. Another credit package of 50,000 billion VND is to support the real estate market provided by 10 banks. The bank implemented this package through the connection of bank buyers - investors - supplying contractors and construction materials producers - the seller's bank.

  - Lastly, the government is planning to relax restrictions on foreign ownership of real estate in Vietnam, which could spur additional demand for residential buildings. The proposal for these measures, submitted by the Ministry of Construction, is currently being deliberated by the government and includes allowing overseas Vietnamese to trade real estate properties under certain conditions and allowing foreigners to make investment in the construction and leasing of properties.

  - However, the dark shadow of the crisis in the sector has still cover the market. In 2013, there were 10,077 construction business and real estate business getting dissolution. Specifically, according to the final report of the Ministry of Construction in 2013 there were 10,635 entrepreneurs registered business establishment, including the construction companies of 9940, real estate businesses of 650.

  - The speed of disbursing the credit package of VND 30 trillion after 4 months of processing has merely gotten 4%. This is a very slow rate while comparing with the demand and urgent circumstance of the market. The effect of this assistance package is actually very limited and the borrower is still very difficult to reach it. As reported by the Ministry of Construction, in the end of Sep 2013, the total value of real estate inventories in the whole country is about VND 101,889 billion. In particular, the amount of apartments inventory is about 3,007 units, equivalent to VND 34,358 billion; the low-rise apartments of 14,920 units, valued VND 26,367 billion; the housing ground of 10.86 million ㎡, valued VND 34,983 billion and approximately the amount of 2 million ㎡ of commercial land inventory with a value of about VND 6,191 billion.

 

□ Demand on water tank

 

 ○  Household usage

  - Currently, almost homes in urban areas (especially the high buildings) are designed for using watertank in potable water supply system. The demand of water tank increased rapidly in recent 20 years thanks to the fast urbanization growth rate, as well as the strongly spreading population in big cities and urban areas.

  - For more than 20 years of renovation work, the urbanization process has taken place very quickly especially during the past 10 years, in big cities like Hanoi, Da Nang and Ho Chi Minh City. Since 1990, the urban Vietnam began to develop and got an increasing rate, then the country has about 500 new cities (urbanization rate of about 17-18%), by 2000 this figure was the number of 649 and 656 in 2003. Up to now, there are about 700 cities, including five central cities, 44 provincial cities, 45 towns and 500 townships. The national central cities including Hanoi, Ho Chi Minh City, HaiPhong, Da Nang, Hue. The central urban areas, including cities such as Can Tho, Bien Hoa, Vung Tau, Buon Ma Thuot, NhaTrang, Nam Dinh, Thai Nguyen, Vietnam Tri, Ha Long, HoaBinh etc. The urban center of the province, including the cities and towns served as the administrative center of power-political, economic, cultural-tourism services, transport hubs; and the central urban districts; urban centers and rural residential areas, new towns. As World Bank, the urbanization rate of Vietnam during recent 5 years still kept at the high average rate of 3.4% per years compared to the neighbor developing countries.

 

         Source: World Bank

 

  - Currently, the percentage of urban population in the country is less than 40%. According to the Ministry of Construction, the urbanization ratio of Vietnam in 2020 will reach about 40%, equivalent to the population living in urban areas accounting for over 45 million people. The goal for the area is 100㎡ per person / people. If the rate 100㎡ 8 / people, Vietnam needs about 450,000ha urban land, but now, the urban area only 105,000ha, by quarter compared with the requirements. Thus, in near future, the urbanization rate and population in cities and urban areas keep increasingly very quickly, which push lot of pressure to the infrastructure including the water demand and storage. That brings the continuous potential opportunity for the business in portable water storage tanks in household consumption.

 

 ○ Industrial and building areas

  - Residential and non-residential building sector is recorded a significant recovery in 2014. Real growth for the sector is forecast to expand 7.6% in 2014, following growth of 3.8% registered in 2013 and a contraction of 0.2% in 2012. Rising incomes among Vietnamese consumers and rapid urbanization rates will boost demand for housing and commercial construction projects, such as malls and hotels, over the coming years. Meanwhile, the country's private consumption growth is expected to remain resilient, while the unemployment rate will remain at historical lows over the long term. These factors would also ensure that the demand for housing and commercial projects remains robust over the long-term.

 

 

                     Source: BMI

 

  - In June 2013, the Vietnamese government approved a VND 30 trn stimulus package to provide loans for purchasing and completing low-cost housing, though the impact of the stimulus package is expected to be limited given its relatively small scale. The demand 9 for affordable houses is still robust, as residential development in the past has largely focused on high-end customers. The Vietnamese government is keen to meet this demand. For example, there are plans to build 2.7mn ㎡ of social housing by end-2015 in HCM City. The social housing program is expected to provide accommodation for 100,000 college students and 93,000 workers, as well as 17,500 apartments for low income earners. In Hanoi, city authorities have announced in July 2013 that they will supply 15,500 apartments for low-income people by 2015. The project, which is in its first phase, is expected to cost USD 402 mn.

 

 

  - The number of both commercial housing and social housing projects keep increasingly despite of the difficult period of real estate. Together with the courage for improving real estate market from Government and the big demand amount in peoples, this is the positive sign for the development of Vietnam residential buildings in coming time.

  - Regarding to industrial production parks, by 2010 basically almost filled area industrial parks have been established; It has been implemented the establishment of a selective new industrial parks focused on the regions, provinces, bringing the total area of the industrial zone to about 40000-45000ha. The contribution rate of the industrial zones on the total value of industrial production was evaluated about 45% by 2010 and to over 60% in the next stage. By 2010, Vietnam has had 250 Industrial Park was established, which has 170 industrial zones (IZ 68% of the country's total) were put into operation,has attracted 8,500 investment projects with a total registered capital of $ 70 billion, of which more than 52 billion USD from foreign investment (accounting for 30% FDI in the country).

  - By the end of 2013, the country has 289 industrial zones which has established or gotten investment certificate (investment certificates) with a total area of about 81 207 ha of natural land, land leasing industry could reach 54,184 ha (accounting approximately 66.7% of the total natural land area); 15 coastal economic zone was 10 established with a total surface area of the water and land of over 698 221 ha, and 28 gate EZ with a total area of 600,000 hectares. IPs and EZs in the country has attracted 4,734 FDI projects, including: 4,509 FDI projects in industrial zones with a total registered capital of 60.1 billion USD; 155 FDI projects in the coastal economic zone with a total investment of 39.9 billion USD, and 70 FDI projects in border gate economic zone with total investment of 0.7 billion. Every year, FDI into IPs, EPZs is accounted for 35-40% of the total registered FDI capital of the country. IPs, EZs also have attracted 6174 investment projects in the country, of which 5,074 investment projects in industrial zones. As planned, by 2020, the area for IPs and EZs is going to spread to 70.000-80.000 ha, which is attracting more investment into the infrastructure including land, water and power.

  - In August 2012, the Vietnam Department of Environmental Crime Control (under the Ministry of Public Security) said that only 143 out of the 232 industrial parks in Vietnam have wastewater treatment facilities. With Vietnam set to take a tougher stance on pollution, this could prompt companies to develop the necessary wastewater treatment facilities. To the current growth rate of industrial parks of Vietnam,This is also the potential area for the big size water tanks for the projects of water infrastructure in both industrial areas and residential building.

 

 ○ Underground tank and water treatment

  - In Vietnam, only 21% of urban people have access to water of drinking quality and 80% of rural people have access to sanitary water of lower standard. The statistics on environmental pollution die to wastewater in Vietnam are very telling, only 10% of urban wastewater quantities are treated while in rural areas there is basically no treatment. This might be due to the lack of infrastructure. Therefore, currently, Government is implementing a lot of clean and wastewater treatment projects.

  - Vietnam has significant potential for large-scale water treatment facilities with the real growth in the water infrastructure industry to average 5.4% per annum between 2014 and 2018. Urbanization in major Vietnamese cities is also rapidly contaminating their water sources, while at the same time increasing their demand for potable water. Hanoi, for example, is reliant on ground water to meet its water needs, with clean water demand estimated to be around 550,000㎥ per day according to local media reports. With urbanization and economic growth, this demand for potable water is expected to surge to 1.0-1.5 mn ㎥ per day. This would create a deficit in clean water resources and necessitate the use of surface water resources, which are potentially contaminated.

  - Various multilateral financial institutions are keen to finance these water utility 11 projects, with the ADB having already agreed to provide USD 1 bn in funds to improve the country's water supply system between 2011 and 2020 Most of the country's large-scale water utility projects are located near the main cities, Hanoi and Ho Chi Minh City. Because of low underground water infrastructure of Vietnam, and thanks to the future improvement planning from Government, this is also a good opportunity for businesses on water materials

 

Some ongoing projects

 

□ Demand from imports

 

 ○ According to the statistic of import volume regarding the Product HScode 730900 Reservoirs, tanks, vats & simctnr, cap > 300L,i o s (ex liq / compr gas type), the demand of imports recorded a stable light increase during recent 5 years after getting a dramatic jump in 2009. In 2009, the import volume reached from 17,406 million USD in 2008 to 48,031 million USD, with the growth rate of mysterially 280%. This period showed the point of inclining demand of usage while the local production could not cover the people consumption, and the technology of domestic products is compared lower than imports.

 

 ○ However, from 2009, this milestone remarked the change of production technology in local production and application of the more cutting-edge production line of some big manufacturers to produce the products with international quality standard. Therefore, there is no more record of sudden ncrease, but the import volume has fluctuated around 48,000 million USD

 

List of supplying markets for a product imported by Viet Nam

Product: 730900 Reservoirs, tanks, vats & simctnr, cap > 300L, i o s (ex liq / compr gas type)

Unit: 1000 USD

      Sources: ITC calculations based on UN COMTRADE statistics.

 

 ○ Among 5 biggest exporters into Vietnam market, China and Japan are 2 leading representatives. Right up next, at the 3rd position is Korea. However, in 2012, the import volume from Korea was significantly increased by mostly 50%, while the imports from Japan reduced by 15%. That brought Korea in the first time got the 2nd rank, following by the leading position of China.

 

 

 

 ○ The products from China still keep a very important position of the first level with the stable increasing volume annually of averagely 20% after a noticeable rise in 2011 by 50%, while the total import volume of this product has been stable with inconsiderable growth rate. This showed the significant reduce from other countries and that import market has been segmented sharply. The import market is now dominated by 3 biggest leaders China, Korea and Japan. According to the chart above, China showed as an exporter with the highest growth rate, followed right after by Korea. Japan is recorded a slight down sign, but still in the top 3.

 

 

2. Production and Competition

 

□ Local production

 

 ○ For the increasing demand of water tanks in household consumption, the kind of product has recent diversified model, categories, design and brands. There are many Vietnamese manufacturing brands of water tanks which have been into market for almost 20 years and hold a significant market share competitive with the import brands.

 

 ○ On the market today, tubs typically have 3 types: stainless steel, plastic and composite

 

 

 ○ Stainless Steel tanks:

  - For the convenience of reasonable price, easy to install and relocate, this is the most commonly used water tanks in Vietnamese household currently with a capacity of 300 liters to 6,000 liters with both vertical and horizontal types, and the durability around 10 years. It now is gradually replacing the concrete water storage tank. Now, in the market, there are many manufacturers of stainless steel tanks such as Son Ha, Toan My, A My, Tan My, HWATA, Hong Giao, Tan A, LongNhien, Dai Son, Dai Thong.

  - In Vietnam, common materials used are stainless steel 304 according to American standards with chemical composition: C <&nbsp;0.08; Cr = 18-20; Ni = 8.0-10,5; Mn<2; Si <1; P <0.045; S <0.03. The fact, several businesses are manufacturing tanks with stainless steel 202 to reduce costs. 202 stainless steel chemical composition is C <0.15; Cr = 17-19; Ni = 4-6; Mn = 7.5 to 10.0; Si <1; P <0.06; S <0.03. However, due to the quality standard regulation, the products of stainless steel 304 are more preferable. The stainless steel materials are mostly imported from Japan, Taiwan, Germany, China, etc. with different thickness and volume capacity from 500 liters - 2000 liters (weight from 25㎏ – 170㎏, including tripods set tub).

  - The products made-in-Vietnam now have the price averagely from 1.2 million - 4 million VND (60 USD ~ 200 USD) depending on capacity, style and brand ; and are warranted in 5-7 years but can be used up to about 20 years.

 

 

 ○ Plastic water tanks:

  - This type is not as good as stainless steel tank, but is used more by lower prices. This kind of good insulation, suitable for all water resources, especially water wells minerals. Plastic tank has some types with a capacity of 300 liters, 500 liters, 1,000 liters or above. Plastic tubs are usually 5 year warranty. Recently, some companies have introduced advanced plastic tank with 12 year warranty. This newtank type is designed with 3 layers, which is heavier and stronger than the standard tank type on the market. In general, this kind has good insulation, be suitable for all water resources, especially water wells minerals. The price of 1,000 liter horizontal tanks is approximately 1.5 million VND (75 USD) and the vertical of 2 million (100 USD)

 

 

 ○ Composite water tank (FRP: Fiberglass Reinforced Plastic)

  - The water tank made of new materials - composites are used in production of water storage tanks, mainly in big-sized tanks from 1㎥ – 1000㎥ used in building and industrial areas. It is used to replace the concrete tanks, plastic tanks and steel tanks because it is non-corrosive, hygienic and features lightweight but durable than other types of pools. Especially it is suitable for tall buildings. Composite tanks FRP / FRP is made up of panels Panel assembled together by bolts, canopy. The panels are produced and specifically designed for each different position, thickness, and textures. The materials of FRP, HDG, Epoxy, SS are mainly imported from Malaysia and China. The price depends on the volume and size.

 

□ Products and Pricing

 

 ○ Below is the price quotation from Son Ha and list of some popular brands in the market

with referred price

 

        Source: price quotation of stainless steel tanks from Son Ha dated 01/09/2014

 

Price of other plastic and composite Water Tank

       Source: http://www.vatgia.com/ 24

 

□ Competitors

 

 ○ Son Ha Stainless Steel Tank

  - Officially established on 17th November 1998, Son Ha International Corporation was formerly known as Son Ha Mechanical Metal Company Ltd. Over a period of unceasing effort, Son ha has transformed itself from water tank fabrication facility to a full-fledged leading stainless steel manufacturer in Vietnam. After 10 years of development, from a water tank factory, now Son Ha International Joint Stock Company is one of the top companies with many products from stainless steel as tanks, sinks, kitchen equipment, and special steel tube with over 1000 employees. For outstanding achievements in producing stainless steel business, and contributing significantly to the 25 economic development of the country, recently Son Ha has been honored third-class Labor Medal by the State.

  - SonHa’s products are qualified with the quality system of ISO 9001 - 2008 and certificates of DAS, the world prestige certification organization. Moreover, SonHa stainless steel pipe is awarded with ertificate of PED – which is one of significant standards to ensure its eligibility to be launched in the especially demanding markets like Europe and America.

  - SonHa's member companies include: Son Ha Energy Development JSC, SonHa SaiGon joint stock Company, Minh Tan Joint Stock Company; Hiway Vietnam Joint Stock Company.

  - Son Ha imported stainless steel coils, sheets from Taiwan, China, India, the leading steel producer in the world, then rolled or cut to produce the variety products of stainless steel as water tanks, sinks, stainless steel pipes and industrial decoration, kitchen equipment etc. SonHa products are uccessfully exported to 17 countries in the world such as USA, Brazil, Argentina, Mexico, Indonesia, Ecuador, Singapore, etc.

  - Currently Son Ha is a manufacturer of stainless steel tank industry in Vietnam, the products have gained quality control in accordance with international standard ISO 9001: 2000, used for the oil refinery, gas, brewery and high-end plumbing. In 2008 revenue of Son Ha was 900 billion VND. In 2009, Son Ha focused intensive investment for stainless steel tank industry to manufacture the advance products and the revenue reached 1,500 billion VND. In 2013, total revenue was 1,819.8 billion VND, in which the ratio of exports to total sales accounted for a high proportion. Thanks to solar energy equipment (solar), Son Ha currently occupies the No. 1 in Vietnam market up to the present time.

  - In 2013, Son Ha has cooperated with BaegKwangPlatech Company, a leading company in Korea to produce water tank assembled from sheets of raw material of fiberglass reinforced polyester (GRP).

 

 ○ Tan A Dai Thanh

  - Tan A Dai Thanh is multi-sector group, specialized in manufacturing metal and consumed products: Water tank, solar water heater, water heater, kitchen sink… Over 20 years of development, Tan A is evaluated as one of biggest manufacturer in water tank and solar water heater in Vietnam.

  - In 2012, despite the recession, Tan A still announced the position by growing the revenue. Furthermore in 2012 it will be considered to be a breakthrough in international market and has signed contract with big buyers in Europe and North America.

  - From establishment in 1993, till now Tan A owns 12 subsidiaries and 7 manufacturing plants across the country. Of which, a plants has already opened and gone into operation in the neighbor country, Loas to speed up the sustainable development, increase export and expand domestic and international market in the coming time.

 

 ○ Toan My

  - Established in 1993, by now, Toan My group owns 3 big manufacturing plants with the scale of 20,000㎡ in 3 regions in Nothern, Center and Southern areas of Vietnam. The company has more than 20 branches in the big cities and 600 agents in the whole country.

  - The products of Toan My follow the qualification standard ISO 9001:2000 and approved by Det Norske Veristas (Norway). ToanMy recently is one of the big brand names in the market of stainless household equipment. The products were exported to some difficult markets of quality standard such as Norway, Swiss, Australia and Japan

 

 

3. Import Tariff

 

 ○ The followings describe in details import tax for products HS Code 730900

 

              Note: MFN: Most Favored Nations (Korea belongs to this group of nations)

                       CEPT: Common Effective Preferential Tariff (ASEAN 10 member countries)

                       AKFTA: ASEAN-Korea Free Trade Area 29

              Source: Export–Import Tariff and VAT on Imports Book (Ministry of Finance)