After strong sales growth in the region, Waterco Limited opened a branch at Ho Chi Minh City in Vietnam.
Soon Sinn Goh, founder, CEO and executive chairman, attributes the country’s high growth economy to the growing demand for its water filtration products and sanitisation products.
He says, “Vietnam’s economic growth was the fastest in Asia last year. Waterco aims for market share by increasing awareness about its innovations in this region.”
Research shows that access to clean water and swimming pools are important investments in improving quality of living, as the population becomes more wealthy.
After hosting the World Travel Awards of Asia & Oceania in 2019, Vietnam gained international recognition as a top luxury destination for travel. This increased demand for swimming pools, and other equipment.
Bryan Goh, chief operating officer at Waterco, says that commercial swimming pool construction has increased significantly due to relaxed visa restrictions and a rapidly-growing tourist market. This has led to a greater demand for Waterco’s high-quality water treatment products.”
Waterco’s Selangor, Malaysia manufacturing plant and its knowledge of the region give it an advantage over competitors looking to enter the lucrative Vietnamese market.
Waterco’s competitive advantage is the well-established manufacturing and export infrastructure in Kuala Lumpur, he states.
In 1986, the Doi Moi economic reforms were launched with the goal of creating a socialist-oriented market economy. They are credited with transforming Vietnam from one of the poorest countries in the world to one that is now a middle-income country.
Goh says, “Vietnam is experiencing a period of great changes due to its growing wealth, changing consumer attitudes, and greater urbanization.”
IMAGE Waterco’s new branch opened in Ho Chi Minh City
SPLASH! published the article Waterco expands into Vietnam. Magazine.
