DOMESTIC CONSTRUCTION INDUSTRY IN 2020 - OPPORTUNITIES AND CHALLENGES
Despite not much negative impacts from the epidemic, the year 2020 is expected to contain many challenges for construction businesses when demand declines and competitive pressure intensifies due to the Covid-19 epidemic.
Market recovery expectation and difficulties in the near future
The expectation of market recovery (Vietnam Report)
In 2020, the survey results of Vietnam Report show that most constructing businesses consider this year will be more difficult (73.9%), only 13.0% of businesses are optimistic to expect the faster growth of construction and building materials industry, whilst 4.3% think that the building materials market will continue to maintain stable growth like 2019.
Notably, about 8.7% of respondents think the market will be "quiet" in the first 6 months of the year and will return to be active in the second half of the year after the COVID-19 translation ends, and The Government's stimulus package has started to take effect.
On the other hand, according to forecasts for BMI (Business Monitor International), the construction industry will maintain an average growth rate of about 7.6% in the period of 2018-2025. PwC research shows that Indonesia, Vietnam, and the Philippines are the countries that can gain the most attention from international property developers in the ASEAN region. This proves that the industry outlook is still very positive in the long term.
Opportunities and challenges for Minh Hanh Global
With the Covid-19 epidemic in the Vietnamese community basically under control, they assessed the economic disruption will be concentrated only in the first half of the year and will decrease in the second half of 2020. Along with the moves to loosen social distancing, many works have been started again. Also, Vietnam's domestic supply of materials and construction workers can meet the majority of construction needs and are only marginally affected by global supply chain disruptions.
This opens up opportunities to recover and boost production for Minh Hanh Global with stable economic potential and human resources, ensuring a return to production as well as maintaining products’ quality. Since we can provide products and services with outstanding quality, this would be a great chance for Minh Hanh to dominate the market and expand the group of loyal customers.
On the other hand, the fact that there are many commercial relationships with global partners also causes immediate difficulties for Minh Hanh Global, both exporting and importing. However, with more than 10 years of experience doing business in the domestic market, Minh Hanh Global confidently can overcome these difficulties to ensure product and service provision.
Vision for Minh Hanh Global in “new-normal” status.
Since Vietnam was able to temporarily control the Covid-19 pandemic, we have entered a "new normal" period, and this has affected every aspect of society. This change requires businesses like Minh Hanh Global to adapt and develop.
Faithful to our mission and business philosophy, we have made drastic changes in our manufacturing and sales processes. The application of modern and new technologies increases productivity while reducing labor force, thereby helping to optimize production costs. Minh Hanh Global also invests in researching new products with superior quality to meet the increasing demands of domestic and international customers such as SAKIM environmentally friendly cement – using raw materials of blast furnace slag, that helps reduce solid waste while enhancing cement’s quality.
Together with the business expansion and product diversification, Minh Hanh Global also focuses on investing in infrastructure and associated logistic services to match its production capacity. In Vietnam, Minh Hanh Global is the ONLY company that owns bulk cement ship unloader at Hon Gai seaport, Cam Pha, Quang Ninh.
In order to adapt to the changes in the "new normal" state, Minh Hanh Global has made obvious transformations such as investing in new technologies, applying the digital transformation, and optimizing the business apparatus. These innovations have helped Minh Hanh to develop stably in the difficult up-coming period, towards sustainable and long-term development.
Minh Hanh Global is a trusted import-export enterprise for cement, clinker, coal, gypsum, and building materials
Minh Hanh Global is a multi-sector organization operating mainly in the construction materials import and export, supplying coal products, gypsum, imported materials in the domestic market; manufacturing blast furnace slag cement line in Vietnam, and exporting cement to the world.
Combining with member unit such as Minh Hanh Building Materials Joint Stock Company, which has more than 10 years of operating in the building materials industry in Vietnam, currently distributes about 600,000 tons of cement per year to the northern market and keeps a solid relationship with many major cement manufacturers in the region, and Top A Trading Joint Stock Company which owns the brand name of blast furnace slag cement, SAKIM, with factories located in Thanh Hai, Thanh Liem district, Ha province. Nam, Minh Hanh Global promises to bring Vietnamese cement to the top of the world map.
Contact hotline: 0977 728 269 or visit Website: www.minhhanhglobal.com to have us answer all your questions.