| China's
Lifan group first entered the Vietnamese market in 1997. After nearly 10 years
of marketing and reputation building, the company's vehicle with its high quality
and low price has now become increasing popular among Vietnamese consumers.
Lifan is not the only Chinese product that has successfully tapped the Vietnamese
market.
Several years ago, due to the infiltration of counterfeit goods
and a number of other reasons, the image of Chinese products in Vietnam was blemished.
With their clear investment strategies in Vietnam, these leading Chinese
enterprises have successfully brought their products to Vietnamese households,
changing the image of Chinese goods, and contributing to broadening and deepening
China-Vietnam trade ties.
Lai Yonghua, general director of Lifan Vietnam,
a joint venture, said Lifan now engages in the combination mode of production,
supply and purchase with various products, including cars, motorbikes, engines,
petroleum-powered machines and electricity-run vehicles, not just the export mode
with motorbikes and their engines as in the early period.
With Vietnam's
accession to the World Trade Organization, Lifan plans stronger investment in
the country with additional 200 million U.S. dollars and building a 200-hectare
Lifan industrial complex. It even eyes market expansion in the region when the
China-ASEAN (Association of Southeast Asian Nations) free trade area is established.
The two neighbors are now actively working for a long-term cooperation
in such fields as infrastructure, energy and transport, including the facilitation
of the process of signing a memorandum of understanding about two economic corridors
and one belt, and the implementation of large-scale projects, including those
on roads and thermoelectric plants.
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