Last updated: Wednesday, March 29, 2017
Jade M-Tech Determines Success by Client's SatisfactionPosted: Tuesday, March 07, 2017
On the occasion of Vietnam Manufacturing Expo 2017 to be organized late this April in Hanoi, Vietnam Business Forum magazine conducts an interview with Mr. Thieu Chi Dan, Director of Jade M-Tech Co., Ltd, about his company’s strategy to take advantage of the development trend of Vietnam’s engineering and manufacturing industry.
Can you give a short brief about Jade M-Tech Co., Ltd?
JM was founded in August 2008 with the only two employees and the small revenue of US$15,000. Over nine years of development, we currently have 28 employees and the revenue of US$1.5 million by the end of 2016.
Key products and services we are supplying are pneumatic equipment, air tools, mechanical equipment, electrical equipment, and designing.
Our customers are in different industrial sections, from machine makers, electronics, motorbike, to furniture etc… and the products we supply generally see a growth rate of around 15-35% each year.
Our team-work emphasizes on QUALITY, SERVICE and MANAGEMENT INNOVATION.
How about the perspective about industrial production and trade in Vietnam? What is the change of demands on quantity and quality of mechanical equipment and tools over the decade?
Bigger and stronger companies are investing into the Vietnamese market, the competition makes every competitor have to reduce the profit. In the other hand, the average salary range has increasing yearly. Therefore, the future trend for those manufacturers is cost cutting by making direct sales to the end-users. The small trading company will be lost their stands which will soon disappear. As for the demand of quality control, manufacturers has been improving their products life-cycle, safety usage and also keep track closely with fast and furious changes nowadays. Therefore basic tools and equipment will widely apply into different industries!
What is your point of view about the current effects and trend of investment from high-tech investors, including the movement of manufacturers in Vietnam’s market?
High-tech investors are slowly migrating into Vietnam’s industry sector and it’s the right time. In the next 3 years, there would be more high-tech investments flocking into this market. Since the wage rate increases 15% per year, traditional manufacturers will seek for lower cost regions or move out this market.
What is your plan of attending Vietnam Manufacturing Expo 2017?
What do you think about the opportunity of Vietnam manufacturing industry in Asean and the global market after engaging in many free trade agreements?
There are advantages for investing into the developing Vietnamese market. Companies can bring technologies to integrate into its newly developing foundation, such as sea ports, airports, road traffics, etc… With over 90 million of population and political stability, Vietnam is one of the greatest choices to work with all contractors.