Vietnam Engine and Agricultural Machinery Corporation - Joint Stock Company (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.
On January 18, 2017, according to Decision 4874/QD-BCT on equitization of
Vietnam Engine and Agricultural Machinery Corporation, VEAM successfully held
the first General Meeting of Shareholders, officially switching to operating
under the model of a Joint Stock Company.
VEAM currently has 27 member units including subsidiaries which are State-owned
one-member limited liability companies, joint stock companies, affiliated
companies, affiliated branches and 1 research institute. VEAM's member units
with over 20,000 employees are companies that manufacture and trade machinery
and spare parts for agricultural, forestry and fishery production and
transportation. Among the member units, there are also 3 companies specializing
in the import and export of materials and equipment to meet the needs of VEAM
and other customers. VEAM is a Vietnamese partner that contributes capital and
establishes joint ventures Toyota Vietnam, Honda Vietnam, Ford Vietnam, Mekong
Auto, Kumba and VEAM Korea.
VEAM is the largest enterprise in terms of scale and has a long tradition in
manufacturing agricultural machinery in Vietnam. With extensive experience in
manufacturing, VEAM's products such as: tractors, internal combustion engines
(gasoline and diesel), rice milling machines and shrimp farming gearboxes are
very popular in the domestic market and are now exported to foreign markets.
VEAM's production lines are constantly invested and improved to achieve the
best quality at low cost. In addition, with a well-trained workforce, VEAM has
been able to apply advanced management models, thereby helping to reduce costs,
increase productivity and respond more quickly to changes in the agricultural
machinery market.
Since the 2000s, VEAM has actively participated in the supporting industry and
has achieved certain successes so far. Currently, VEAM is the official supplier
of spare parts for large joint ventures in Vietnam such as: Honda, Piaggio,
Yamaha... With current capacity, VEAM can produce frame parts and engine parts,
especially difficult engine parts such as: Crankshaft, Connecting Rod...
Cooperating with large companies has helped VEAM enhance its brand and many
foreign companies have come to place orders such as Sumitomo, Enkei, Konishi,
Tshukuba...
In 2009, the Branch of the Corporation - VEAM Automobile Factory (VEAM Motor)
was built on the basis of the synchronous design of Samsung Automobile Factory
(Korea) with a capacity of 33,000 trucks/year, officially put into operation
and shipped the first vehicles. This is a large-scale automobile assembly plant
with international standards, stamping, electrostatic painting and assembly
lines are completely synchronized and highly automated, helping VEAM's truck
products achieve good and stable quality. Up to now, the VEAM automobile brand
has been widely accepted in the market, and sales output has increased steadily
every year.
In 2011, the General Corporation Branch - VEAM Foundry Factory (Veam Foundry)
officially came into operation, invested in construction and design according
to standards, providing high-quality casting products for member units of the
General Corporation, Japanese and European companies such as: Toshiba, Iseki,
Juki, Sumitomo, Komori, HE, etc. In 2016, the Foundry Factory put into
operation an automatic casting line to increase productivity and quality of
casting products.
In addition to developing the supporting industry for motorbikes, VEAM promotes
investment, calling on foreign investors to produce automobiles, spare parts
and components to form joint ventures, associate, transfer technology to
produce spare parts and components for VEAM member companies and build
factories to produce spare parts and components for companies such as Toyota,
Honda, Ford ... to increase the localization rate in accordance with the
Government's policies and directions, contributing to making Vietnam an
industrialized country.
Vietnamese name: VIETNAM ENGINE AND AGRICULTURAL MACHINERY CORPORATION - JSC
English name: VIETNAM ENGINE AND AGRICULTURAL MACHINERY CORPORATION - JSC
Trading name: VEAM
Chairman of the Board of Directors: Mr. Ngo Khai Hoan General Director: Mr.
Nguyen Hoang Giang
HEAD OFFICE
- Address: Lot D, Area D1 - Tay Ho Ward - Hanoi City. - Phone: 84-24-62800802 -
Fax: 84-24-62800809 - Email: office@veamcorp.com - Website: http://veamcorp.com
BRANCH OF THE CORPORATION - VEAM AUTOMOBILE FACTORY
- Director: Mr. Nguyen Van Hai
- Address: Quarter 6 - Bac Son Ward - Bim Son Town - Thanh Hoa
- Phone: +84 237 377 1824
- Fax: +84 237 377 1137
- Website: http://veam-motor.com
HO CHI MINH CITY BRANCH
- Director: Mr. Nguyen Van Toi
- Address: 90-92 Tran Binh Trong, Ward 1, District 5, Ho Chi Minh City
- Phone: 028 3923 5226
BRANCH OF THE HEADQUARTERS CORPORATION - VEAM CASTING FACTORY
- Director: Mr. Dong Trong Nghia
- Address: Lot B15, Area B, Hiep Phuoc Industrial Park, Nguyen Van Tao Street, Nha Be District, Ho Chi Minh City
- Phone: (084) 28-38734091 (084)28-37818572
- Fax: (084)28-37818859
- Email: vfmain@veamfoundry.vn
- Website: www.veamfoundry.com
BRANCH OF THE HEADQUARTERS COMPANY – CUA LO HOTEL, NGHE AN
- Director: Mr. Pham Minh Quy - Address: No. 284, Binh Minh Street, Cua Lo
Town, Nghe An - Phone: