Investing in the development of transport infrastructure, raising the localization rate of imported substitutes, the application of technology in management, and production are the three key factors to help Vietnam’s transport enterprise to develop sustainably during the Covid period.
Transport is one of the spearhead economic sectors that determining the development of the economy so there is always a need for a sustainable development orientation to promote other economic sectors to develop. In the context of Covid-19 negative affecting the global economy, Vietnamese transport enterprises have made efforts to comprehensively innovate based on Government policies of developing infrastructure investment, then increasing the level of production localization and technology application.
As a country that is attracting numerous quality foreign investments and is advantaged in the wave of factory relocation from China after Covid-19, the Vietnamese Government has invested in a series of projects to strengthen the connection between urban areas and economic regions. Specifically, in 2020 the Government has started construction on 18 projects with a total investment of about 92,384 billion VND, focusing mainly on the Eastern cluster of the North-South Expressway and the North-South High-Speed Railway (HSR), Long Thanh International Airport Project, Terminal T3 Project in Tan Son Nhat International Airport.
Despite the commencement and completion of projects during the Covid epidemic broke out have many difficulties, but these investment has created momentum for economic growth in provinces and cities, and enhanced capacities for contractors and transportation equipment manufacturing enterprises in Vietnam. Being one of the typical enterprises specializing in manufacturing products such as pot bearings, expansion joints, hand-rails, noise barriers, ... for almost of the national key projects, Vinh Hung Trading, Consulting and Construction Joint Stock Company (Vinh Hung JSC) has experienced impressive growth rate at 73.3 %. The quantity of pot bearing only supplied by Vinh Hung JSC increased 2.4-fold in comparison to 2019.
To control Covid-19 epidemics and improve production and trade efficiency, a series of modern technologies has applied by Vietnamese transportation enterprises. Outstanding technology integration is Base - A comprehensive business management platform that allows connecting all company departments in one platform, digitizing operations to reduce face-to-face interactions, and optimizing productivity and efficiency. A representative of Vinh Hung JSC said that operations and production activities of the company still processed normally even when employers worked at home when Base was integrated. In addition, transportation enterprises in Vietnam also apply Zoom to exchange internally or with partners, implement specialized management software to ensure the end-to-end business process is handled on the digital platform.
Mr. Luong Vo Ta, General Director of Vinh Hung Trading, Consulting and Construction Joint Stock Company (Vinh Hung JSC) commented:
2020 proves to be a successful year for Vĩnh Hưng JSC, as the country was successful in dual goals: fighting against Covid-19 pandemic and sustainably develop manufacture to meet requirements of domestic and foreign projects.
In addition, to quickly putting new applications into operation as mentioned above, Vietnamese transport enterprises also update the latest technology by conducting technology transfers from international enterprises. In 2020, Vinh Hung JSC is a pioneer in Vietnam to put a series of modern machines into operation, apply a management and production system that is in accordance with European standards such as ISO 3834, EN 1090-2. With this breakthrough transformation, Vinh Hung exported products for large projects such as Temburong Bridge (Brunei) - the longest cross-sea bridge in Southeast Asia connecting Malaysia and Brunei, or the Cebu-Cordova Link Expressway Project (Philippines).
It can be seen that, as a developing country, Vietnam is one of the most dynamic emerging counties in Asia. Not only is Vietnam a bright spot in keeping the Covid-19 pandemic under control, this country in general and its transport industry, in particular, has experienced strong growth in a special year.