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Aligning to the Maritime Silk Road, Lovol Orients it Global Strategy to Southeast Asia

Date of promulgation:2017-3-29 Times of click: Print Font scaling BigCenterSmall

Lovol will never stop its footstep in Thailand and areas along the “Maritime Silk Road” of ASEAN in 2017, as it has established its overseas operation management center in Thailand, signed the strategic cooperation agreement with Kasikorn Bank in Thailand, attended the 1st Hanover Agricultural Machinery Exhibition in Asian as a specially invited launching partner, pushed its new product combination to the Southeast Asian market, and held the regional business conference.

As a leading agricultural machinery enterprise in China, the stably developing Lovol has accelerated its globalization in recent years. Having established its overseas total value chain operation platform in Europe in the past five years, and successfully realized its localized operation in Europe, Lovol has oriented its strategic layout to Southeast Asia again, and promoted its globalization strategy and integrated the “Belt and Road Initiative” from both the west and the east. By doing this, Lovol has opened a new route for “going out” to develop globally for domestic agricultural machinery enterprises.

Attending the Hanover Agricultural Machinery Exhibition in Asia  Pushing New Product Combination to the Southeast Asian Market

As one of the largest agricultural machinery exhibitions in the world, people from the “agricultural machinery circle” may be quite familiar with Hannover Agricultural Machinery Exhibition, but know little about the Hannover Agricultural Machinery Exhibition in Asia. In 2017, the sponsor of German Hannover Agricultural Machinery Exhibition has “carried” the exhibition to area beyond German for the first time, and Asia has been selected as the first station abroad.

To increase the reputation and influence of the exhibition, the sponsor has invited leading enterprises in the agricultural machinery industry of the area to participate in the exhibition as specially invited launching partners. Lovol becomes one of its specially invited launching partners in Asia, which fully proves our status and influence in the world agricultural machinery industry.

On the Hannover Agricultural Machinery Exhibition in Asia opened in Bangkok International Trade and Exhibition Centre (BITEC), Lovol’s new products from its full course mechanization series have been exhibited, focusing on product combinations such as tractors, harvesting machinery, garden tractors, rotary cultivators, planters and plant protection machinery.

Under the characteristic development mode of “R&D in Europe, and manufacturing and distributing all around the world”, Lovol has always been engaged in providing integrated intelligent science and technology solutions for modern agriculture in recent years. On this exhibition, Lovol has specially optimized the product design according to the product requirements and characteristics in Southeast Asia as well as the user’s habits, and released a series of product combinations satisfying the requirements such as plowing, planting, field management and harvest. By doing this, Lovol has provided the users from Southeast Asia with feasible integrated full course mechanization solutions, thus followed by numerous overseas “fans”.

It is reported that Lovol has put media such as the e-commerce platform and new media into full play on this exhibition, through which the customers not only can fully understand Lovol’s products and dynamic information of the enterprise, but also can do on-line product trading with Lovol. This can satisfy the needs of overseas customers in a more convenient and rapid way.

Signing Strategic Cooperation Agreement with Kasikorn Bank  Leading in the Overseas Finance of Agricultural Machinery

On March 15, Lovol signed a strategic cooperation agreement with Kasikorn Bank for the purpose of providing financing, cash management, international settlement, information consultation, customized financial product and other services for its business development in Thailand and ASEAN.

Kasikorn Bank is a large international bank of great influence in both Thailand and ASEAN, which has seven branches in China, carrying unique advantages. Through this strategic cooperation, both parties will put our advantages into full play so as to achieve mutual reciprocity and mutual benefit and work together to succeed. By signing this agreement, Lovol has opened and explored a new route for domestic agricultural machinery enterprises to “take the gold” of countries along the “Belt and Road Initiative” and innovate the overseas financial services of agricultural machinery.

Qiu Chunan, executive vice-president of Kasikorn Bank, has said that Thailand and ASEAN are not only significant agricultural bases in the world, but also key areas of sustained economic growth. Lovol, as a leading enterprise in the agricultural machinery industry of China, has a broad development prospect in this area. The signing of such strategic cooperation agreement shows that Kasikorn Bank has been ready at any time for assisting strong Chinese enterprise like Lovol in acquiring further development in Thailand and ASEAN.

As for the strategic layout orienting to Southeast Asia, Wang Guimin, chairman of Lovol’s BOD, has pointed out that radiating the Southeast Asian and South Asian markets taking Thailand as the center is a significant strategic layout of Lovol, and establishing overseas operation management center in Thailand, radiating the Southeast Asian and South Asian markets, and making it Lovol’s regional industrial operation center for agricultural machinery in Southeast Asia is a key link for Lovol to align to the “Belt and Road Initiative” and promote its globalization strategy from the east and the west.

Aligning to the Belt and Road Initiative  Promoting from the East and the West

It is pointed out in the government work report of this year that the construction of the “Belt and Road Initiative” shall have solid progress and the international capacity cooperation shall be deepened. As for aligning to the “Belt and Road Initiative” strategy, Lovol, as the navigator for the global development of domestic agricultural machinery, has unique advantages.

At present, Lovol’s export to countries along the “Belt and Road Initiative” has accounted for over 50% of its total overseas export volume. For the company, it is clear that the “Belt and Road Initiative” has opened a wide market, which is not only reflected by the quantitative growth, but also indicated by the qualitative leap.

While actively expanding its “friend circle” in countries from Southeast Asia, Africa, Europe and other areas along the “Belt and Road Initiative”, Lovol is also solidly promoting the capacity upgrading in R&D, manufacturing, marketing and total value chain service globalization and operation. Since the ancient times, Southeast Asia has become a significant crop production base in the world due to its unique natural and geographic conditions, and the market demand of agricultural implements there is large, making it the place “struggled” by agricultural machinery enterprises from all over the world. Lovol’s orientation in Southeast Asia is of great strategic significance for further aligning to the “Belt and Road Initiative” from the east and the west.

 “As a company to closely combine going out with transformation and upgrading, Lovol’s vision in the future will sure not be limited in Europe; we will make efforts to cultivate a strong team with global competitive capacity, push our products to the world by virtue of our global marketing system, and create an overwhelming agricultural machinery of China by participating in the international industrial division and competition” Wang Guimin said. 

Taking the good opportunity of this exhibition, Lovol has also held the regional business conference in Southeast Asia themed “Rooting in Asia, and further developing Asia-Pacific region together with the Europe”, and we have discussed the product planning suitable for Southeast Asia with the local dealers, which has created more favorable conditions for deepening the cooperation and win-win of both parties, and conveyed our development goals and cooperation visions for globalization, bringing the local users with the “Power of China” in agricultural modernization.

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