For a long time, China’s construction industry has huge production capacity, but the internationalization rate of construction enterprises is low. In the context of the globalization of the world economy and the integration of international production, enterprises can only reduce costs and increase efficiency by deploying their production resources in the world through international operations. Many internationally renowned engineering giants have been able to survive and develop in the competitive market for a long time as they have their core competitiveness. Meanwhile, the practice of most successful international engineering contractors shows that their core competitiveness mainly comes from their ability in business integration and multinational operation based on years of experience in international projects.
From the perspective of the domestic construction industry, China has entered the middle and late stages of faster development of urbanization. The number of new projects such as housing construction is shrinking, industry structure and business model are facing transformation and upgrading, and the development model is constantly shifting to high-quality development. For the majority of construction enterprises, the international market is inevitable in promoting the development and growth of enterprises.
From the “Belt and Road” initiative to the end of July 2022, 149 countries and 32 international organizations around the world have signed more than 200 cooperation documents with China on the “Belt and Road”, and contracted more than 3,000 projects with an investment scale of nearly $1 trillion. These projects ranged from dams and bridges to ports and railroads, which brought about the upgrading of infrastructure in countries along the route and new development opportunities for Chinese construction companies and construction materials suppliers.
GETO, as one of China’s aluminum formwork suppliers, keenly realized the importance of internationalization, so it vigorously developed the overseas market and set up subsidiaries in Singapore and Malaysia. To seize the business opportunities in overseas markets as soon as possible, GETO seized the opportunity of the wave of infrastructure construction in the “Belt and Road” countries to provide aluminum formwork for the construction of infrastructure.
Published: Feb 28, 2023
Last published: Feb 17, 2023
