Vietnam Engine and Agricultural Machinery Corporation – JSC (VEAM) was formerly a State-owned one-member limited liability company, operating under the model of Parent Company – Subsidiary Company, under the Ministry of Industry and Trade, established on May 12, 1990 with the core goal of the Vietnamese mechanical industry being the industrialization and modernization of agriculture and rural areas.

With its long history of operation, VEAM is currently the leading mechanical enterprise in Vietnam. Over the years, VEAM has continuously invested in technological innovation, improved production capacity, product quality and participated in the global supply chain. VEAM’s engine, agricultural machinery and auxiliary mechanical products have not only developed in the domestic market but also been exported to over 20 countries around the world.

VEAM always ensures direct jobs for thousands of workers and creates indirect jobs for tens of thousands of workers participating in the distribution and after-sales service sectors related to products manufactured by units in VEAM. In recent years, VEAM has always maintained a steady annual growth rate of 10-15%. Up to now, VEAM has accumulated an estimated enterprise capitalization value according to market value of approximately more than 49,000 billion VND (according to market assessment information). VEAM is currently a capable and reliable partner with domestic and foreign partners, including partners such as Toyota, Honda (Japan), Ford (USA) in joint ventures Toyota Vietnam, Honda Vietnam, Ford Vietnam. With the prestige and quality of products and services, VEAM and its member units have been selected by these joint ventures as suppliers of auto and motorbike spare parts, auto transportation services, and warehouse packaging management for joint ventures Toyota Vietnam, Honda Vietnam, and Ford Vietnam. Currently, VEAM is continuing to build and implement export strategies and trade promotion to promote VEAM products including trucks, engines, agricultural machinery, auto and motorbike spare parts to boost exports to markets in ASEAN, Northeast Asia, West Asia, South Asia, and Africa. With the development orientation to 2025, vision to 2030, VEAM will continue to maintain and develop focusing on key industries, including: engines and agricultural machinery, automobiles – motorbikes; supporting industry. In addition to the goals and production and business plans, responsibility to the community and social development is also an important task. Therefore, VEAM always identifies the Power Machinery, Agricultural Machinery, supporting industry and production of automobiles to serve and support the agricultural processing industry in the national economy as the main field. VEAM’s products will help farmers have more opportunities to invest in machinery, thereby promoting mechanization, modernization of agriculture and rural development. In the field of engines and agricultural machinery, VEAM is developing new products for the fields of post-harvest processing, aquaculture and fisheries. Some new products are starting to research the market and produce in recent times such as air blowers, hydraulic gearboxes with electric motors, electric motors for agricultural machines. To improve efficiency in the domestic market, VEAM’s dealer system is being built in the direction of a chain of stores distributing products focusing on engines and agricultural machinery of member units that meet the 3S standard (Sales, spare parts supply and after-sales service).

Along with that, VEAM will continue to implement the standardization of the new brand identity system throughout the entire operation of the Corporation, to take advantage of opportunities for the export market. In addition to developing in breadth through searching and penetrating new markets in the Southeast Asian region, along with a plan to develop in depth by building product introduction centers, participating in exhibitions, promoting trade, supporting and cooperating more closely with distributors in potential markets in Northeast Asia and Africa to make improvements to help launch products suitable to the needs of each market.

In the field of supporting industry, to satisfy the needs of customers, the market as well as increase the competitiveness of product quality and price, VEAM is promoting the implementation of investment projects to innovate modern equipment to improve labor productivity and product quality to increase competitiveness. VEAM also innovates in the organization and management of production, applying Kaizen (continuous improvement) and TQM (total quality management) in all stages of the production process. In addition, VEAM has deployed the ISO 9001:2008 quality management system as well as is implementing the construction of the TS16949 quality management system applied to the production of auto and motorbike spare parts for export. Therefore, VEAM has made steady growth steps and participated in providing products with high added value to major domestic and foreign partners in the field of auto and motorbike spare parts and civil industrial machinery.

This is the result of the continuous process of promoting improvement, technical research, and technological innovation to have reasonable and effective manufacturing processes and technologies.

In the field of manufacturing and assembling trucks and specialized vehicles, VEAM is continuing to maintain research activities, develop new products, and promote production cooperation to launch products that are suitable to the tastes and needs of the market.

VEAM has been and is continuing to deploy the production and assembly of trucks and commercial passenger cars, focusing on product lines that the Government prioritizes to encourage development in the Vietnam Automobile Industry Development Plan to 2020 with a vision to 2030 and promoting the development of supporting industries to increase the localization rate for domestically produced cars and motorbikes as well as towards export.

Over the years, VEAM has always created products that bring maximum benefits and contribute to changing agricultural production methods. Continuing the policy of modernizing agriculture and rural areas, in the coming time, VEAM will focus on promoting the implementation of a number of activities such as:

• Improving capacity in the field of manufacturing power machines, agricultural machines, and supporting industries by investing in human resource development, investing in equipment capacity, technology, and developing key products with a focus on meeting domestic market share as well as expanding export markets.
• Participating more deeply in global supply chains in the fields of motorbikes, automobiles, and many other types of industrial and agricultural machinery.
• Strengthening international cooperation and localization of truck products manufactured by VEAM.
• Applying advanced management models, thereby helping to reduce costs, increase productivity, and meet the requirements and changes of the power machine and agricultural machinery market.

Address: Lot D, Area D1, Phu Thuong, Tay Ho District, Hanoi

Website: www.veamcorp.com