Vietnamese plastic firms are facing fierce competition and threats of being acquired by foreign peers, experts said at a conference held in Ho Chi Minh City on November 2.
HCM City (VNA) ღ–Vietnamese plastic firms are facing fierce competition and threats of being acquired by foreign peers, experts said at a conference held in Ho Chi Minh City on November 2.
According to Pham Van Bac, deputy head of the Ministry of Construction’s department of building materials, waves of foreign plastic companies have invested in Vietnam to take advantage of land leasing and taxation incentives and cheap material prices, among others. The plastic sector also has a prosperous outlook thanks to the effect of several free trade agreements Vietnam has joined.
As heard at the event, foreign investors prefer acquiring local companies with certain market share and good performance to cut costs.
Dang Tran Hai Dang, deputy director of VietinBankSc’s research centre, listed some notable acquisitions since early 2016, including the Republic of Korea’s Dongwon Systems Corporation taking over Minh Viet Packaging One Member Company Limited.
Thailand’s SCG Building Materials is planning to add 6 billion USD to consolidate its position in the Vietnamese plastic market, Dang said.
Foreign companies with quality strategies are making inroads into the Vietnamese market, putting a great pressure on the domestic production, he noted, adding that their experience and financial potential will help them easily obtain benefits offered by the free trade pacts.
The recovery of the real estate and construction industries has been stimulating demand for plastic products.
The BIDV Securities Corporation forecast average demand for plastic products will increase to 45kg per person per year in 2020, representing an annual growth rate of 4 percent.-VNA
The Tan A Dai Thanh Group has established a new subsidiary, Stroman Vietnam Plastic Corporation, in a move to participate in the domestic plastic tube production market.
Plastic businesses are planning to invest in production lines and improving product quality as the industry is forecast to face many challenges when AEC is formed.
Thai investors are increasingly investing in Vietnam's plastic industry, with many of them keen to fully acquire the Government's stakes in companies it plans to equitise.
The Vietnam Saigon Plastic Association will focus on research to develop renewable raw materials replacing fossil-based materials for making plastics in the 2016-20 period, its president has said.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
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The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Illustrative image (Source: cafe.vn)
