Honeywell upbeat about Vietnamese growth

American conglomerate Honeywell is looking to expand operations across various sectors in Vietnam

Honeywell, which has been present in Vietnam since 2005, operates in four sectors: aerospace, home and building technologies, safety and productivity solutions, and performance materials and technologies. Honeywell’s solutions have provided the Vietnamese market with technologies and services in multiple sectors, ranging from oil and gas to automotive and aerospace.

In late May, the firm’s aerospace arm struck a $100-million deal with Vietnamese budget airline Vietjet, as part of Prime Minister Nguyen Xuan Phuc’s visit to the US. Honeywell will provide 98 auxiliary power units for Vietjet’s Airbus A320 fleet, continuing the partnership that started in 2014.

The American firm also looks to boost its market share in home and building technologies. At a recent symposium in Ho Chi Minh City, it has presented a complete portfolio of end-to-end connected technologies for hospitality, residential, and commercial buildings.

“Vietnamese house owners are becoming more tech-savvy and smart home applications are now more common. We aim to provide Vietnamese customers with a well-rounded system, which controls thermostats, multiple household items, and security cameras,” said Mai Trang Thanh, president of Honeywell Vietnam.

Vietnam’s recovering real estate market and growing tourism industry will be a boon to Honeywell’s business, the president added. Together with China and India, Vietnam is one of Honeywell’s fastest-growing markets.

Thanh admitted that there is still a long road ahead, as Honeywell Vietnam currently accounted for only 10 per cent of the market share in this sector. The firm has recently combined multiple departments to boost market share, as well as provide customers with a comprehensive solution for their buildings.

Notable residential departments with Honeywell’s smart home solutions include Samrimi Salla by Dai Quang Minh and Times City Park Hill, developed by Vingroup.

Honeywell and VietJet sign again for $100 million On May 31, Honeywell (NYSE: HON) signed an agreement with VietJet for 98 auxiliary power units for the airline’s new Airbus A320 fleet.

Honeywell, Cathay Pacific connected aircraft test programme delivers substantial savings Honeywell (NYSE: HON) has completed the airline industry’s first-ever trial with Cathay Pacific to demonstrate how advanced data analytics can improve operational availability of its A330 fleet.

Honeywell’s CPS to help Dung Quat refinery improve efficiency Honeywell has announced that Binh Son Refining and Petrochemical, a subsidiary of Vietnam’s state-run oil and gas PetroVietnam will use its new IIoT-based Connected Performance Services (CPS) offering to improve the performance of its manufacturing operations in Binh Son Refining and Petrochemical will use CPS technology which integrates Honeywell UOP’s deep process knowledge to improve refinery and plant performance at its naphtha complex.