Vietnam eyes Saudi Arabia construction materials market
Vietnamese firms are eyeing a good chance of exporting construction materials and interior decor items to Saudi Arabia, the largest Middle East country which is widely swept by infrastructure ramp-ups, an official from the Vietnam Trade Office in Saudi Arabia told participants at a workshop in Ho Chi Minh City on June 25.
Vietnamese firms are eyeing a good chance of exporting constructionmaterials and interior decor items to Saudi Arabia, the largest MiddleEast country which is widely swept by infrastructure ramp-ups, anofficial from the Vietnam Trade Office in Saudi Arabia told participantsat a workshop in Ho Chi Minh City on June 25.
Experts notedthat Saudi Arabia, which imposes a 5 percent tariff on all imports, isturning to new emerging markets, including Vietnam. It is even betterthat investors are free from personal income tax and value-added taxthere.
To meet growing construction demand, the countryneeds nearly 60 million tonnes of cement and 25 million tonnes of ironand steel annually.
Head of the African, West and South AsianMarket Department Tran Quang Huy said almost all the Middle Eastcountries are much reliant on imports, especially wood and woodenfurniture because of their hot and dry climate.
To better tapthe market, he asked Vietnamese enterprises to focus on surveyingconsumer habits and selling quality products there.
Contacting construction contractors to seek business deals is also a good idea, he said.-VNA
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