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The market for pumps in all industrial segments in Vietnam is expected to increase at least 10 percent a year over the next 10 years, a pump company director has said.
Gert Borrits, general director of the Danish-based Grundfos in Vietnam, said the country is an attractive market for foreign companies to invest, especially in beer, foodstuff and industrial equipment.
"These industries create a huge need for pumps and pump systems, especially energy-saving ones, including high-pressure services for steam, water and waste water services," Gert said.
Currently, Grundfos holds the largest market share of the pump market in Vietnam after two years of operation, offering products including circulator pumps, submersible pumps and centrifugal pumps.
It plans to employ more staff in Vietnam to serve its business expansion needs as well as develop its after-sales services nationwide.
"We hope to set up some factories here also because we think Vietnam is a very good place to produce pump products," Gert said.
"We already have a huge investment in China and now we are looking at Thailand, Malaysia and Vietnam," he said.
Last week, the company organized an industrial solution seminar in Ho Chi Minh City to introduce its sanitary range to 200 businesses in the food and water treatment industries and other sectors.
