16:26 | 31/07/2019 Companies
(VEN) - It is a good time to invest and expand in Vietnam with regional and international free trade pacts opening up growth opportunities, says James Edmund Corbett, General Director, Aardwolf Industries LLC.
Aardwolf has grown in Vietnam for 12 years and we will expand our operations to achieve greater success in the country, Mr. Corbett told Vietnam Economic News.
Aardwolf Industries LLC, a leading manufacturer of lifting and handling equipment for the construction industry, was established in 2007 in Binh Duong Province with 100 percent investment capital from Australia. The company manufactures more than 300 different piece of equipment and tools, including vacuum lifters, pipe lifters, slab lifting clamps, transport frames, glass lifting clamps, slab racks, self-locking trolleys, forklift booms, work wear, and load handling attachments for material handling in the stone, glass and metal industries.
Today, after more than a decade of doing business in the country, Aardwolf has gained global reach with distribution channels in countries like the USA, Canada, Australia, Germany, Italy, Great Britain, Korea, India and Thailand.
Mr. Corbett, also the company’s founder, said: “Aardwolf is the leading vacuum equipment manufacturer in Southeast Asia and the only qualified manufacturer in Vietnam able to provide alternative sizes of heavy vacuum lifters for different consumer purposes. We are dedicated to enhancing the quality of goods by applying the latest technologies in production. The company continually updates manufacturing techniques to deliver the best solutions for partners and customers around the world to strive for becoming the world’s leading supplier of heavy handling equipment”. “The key to developing sustainably in this industry is to find the right skilled workers. Currently, we have more than 130 staff and we are happy to have them staying with us right from the beginning.”
Mr. Corbett said Aardwolf started out with an exclusively export focus, but it has now begun to sell in Vietnam too, after he spotted the domestic market potential early. Overall, Aardwolf’s development strategy for the next 10 years is to cover the entire domestic market and beyond.
“To this end, Aardwolf is building a new factory specializing in vacuum lifting equipment manufacturing in order to diversify product types and usage to serve increasing demand of customers. We expect the new factory with over US$1.5 million in investment capital to open at the end of this year. It will be a bigger facility than the current one.”
Explaining his choice of investing in Vietnam, Mr. Corbett said, “I have lived in Vietnam for more than 20 years and found it offers a lot of much potential that the country offers. The low labor cost in Vietnam is also an advantage for us. In addition, with the growth of the domestic supporting industry, we can get more material from domestic suppliers. Currently, we have benefit from the free trade agreement between ASEAN and Australia. And I believe that the CPTPP will facilitate our business more in the near future."
“Vietnam is more open than ever, and this is the right time for Australian investors in particular and foreign investors in general. From my experience, Vietnam is the best destination.”
Mr. Corbett said Aardwolf was proud of to be a part of dynamic Australian investors in Vietnam, contributing to economic and social development. He said, “For sure, we will stay here and expand here.”