Erdal Elver told reporters in HCMC yesterday the expansion was aimed at producing more high-technology busbar systems and introducing new product lines in Vietnam, a market that earned the company a profit of 4.7 million euro in the financial year 2010.

Every month the factory produces an average of 5,000 meters of busbar systems for local and foreign markets. This system is used to transmit power from transformers to end-users.

"We are now coming into the phase to expand the operations at our factory in different dimensions," Elver said. "Now the economy is coming back and the (global economic) downturn is hopefully over. We are expanding the existing operations."

Elver said Siemens Vietnam had planned to develop local R&D engineers and already sent candidates to Germany for training so as to support the future development of the company's products in Vietnam for the Asian region.

"We are planning to introduce new product lines and this will take time," Elver said and noted Siemens Vietnam had raised the local portion of its products considerably and the company was mulling further increasing direct business in this market

Siemens Vietnam is looking to build stronger engineering and sales operations to cash in on growing opportunities in energy, industry and healthcare. "We are urgently looking for engineers and salespeople for different departments," Elver said, adding efforts were underway to analyze the market and tap new business areas and technology, including building technology.

Regarding green energy, Elver said renewable energy was one of the most important parts of Siemens' technology and solutions, and the company was ready to supply products to the wind farm developments in this country.

"Currently, we are talking to several investors in wind energy on how we can support them in setting up the wind farms," Elver said. Many investors are waiting for clear regulations for generation and distribution of wind energy.

He is pinning high hopes on the future signing of major contracts in the energy and transportation sectors given the country's dire need for more electricity and belter infrastructure to fuel growth.

Elver said supplying products and solutions to power generation and distribution continued to be the focus of Siemens Vietnam, alongside other sectors where the company had advantages.

Source: The Saigon Times Daily