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| RP construction industry seeks to expand presence in SEA |
| Monday, 12 May 2008 13:43 | ||||||
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"We are optimistic that this one-week mission in Vietnam and Cambodia will establish a reputation for the country as a stable source of world-class quality construction services and materials in Southeast Asia," said James Rosca, Export Manager of Teresa Marble Corporation. The Department of Trade and Industry, through the Center for International Trade Expositions and Missions (CITEM), targets to bring eight companies engaged in construction and engineering design and services, building technologies, building and decorative materials to represent the country in Vietnam and in a business mission set in Cambodia. Industry players recognized that countries with war recovery initiatives like Vietnam and Cambodia are just some of the emerging markets for Philippine construction services and materials. Danilo Baldonado, General Manager of Icoast Manufacturing who joined a VICB sub-sector show last year, is confident that Philippine companies could surpass the requirements of these countries when it comes to standards, yet could compete well in terms of pricing. "Joining trade exhibits in these emerging markets can serve as a venue for Philippine construction companies to study the construction developments and trends in the region," Baldonado said. To date, three participants are expected to join the event, namely, Icoast Manufacturing Group (misting system), EZ Rocks (manufactured stones for wall cladding), and TMC International (marble). Building contractors and consulting firms are also expected to join the Philippine delegation to VICB. Industry reports said Vietnam's non-residential spending is expected to grow to US$ 766 million in 2015. The Vietnam government plans to develop 11 key industries by providing loans, special budget allocations, and other official development assistance. Meanwhile, Vietnam's increasing population, coupled with the rising rate of urbanization is also expected to stimulate demand for housing units, which may record a surge on spending in the residential construction sector to US$ 603 million by 2015. Being the world's 13th largest population and one of the best performing developing economies, Vietnam is a big market for manufacturers, importers, exporters and investors. VICB featured 102 exhibitors from 16 countries in 2007 including participants from Thailand, Singapore, Malaysia, Italy, China, and Hong Kong. The four-day exhibit attracted 7,032 trade visitors, 80 percent of which came from the host country, as well as visitors from Singapore, China, Korea, Malaysia, and Thailand.
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Vietnam's booming infrastructure sector presents new opportunities for Philippine building materials and construction firms, including the development of stronger business partnerships between local companies and other Southeast Asian countries.| Related Articles | |
