Business

Chemical sector restructuring to boost exports

The chemical industry was under an overhaul with an aim to boost exports of high value products.
Chemical sector restructuring to boost exports ảnh 1Illustrative image (Photo cafef.vn)

The chemical industry was under an overhaul with an aim to boost exports of high value products.

The Ministry of Industry and Trade recently approved the restructuring plan for the chemical industry for the country's industrialisation, modernisation and sustainable development by 2020, with a vision for 2030.

One of the prime goals was to enhance the quality and diversify the tyre and tube product categories to firstly meet domestic demand and then boost exports of products of high value products such as radial tyres, special car tyres, and tube-less motorcycle tyres.

Vietnam currently has an estimated 830 firms involved in tyre products, including 30 manufacturers, 170 exporters and 460 importers.

The rubber industry was currently led by three giants, Sao Vang, Da Nang and the Southern Rubber Company, all of whom are under the Vietnam National Chemical Group.

Under the approved planning of the chemical industry, other sectors to be restructured include fertiliser, crop protection chemicals, petrochemicals, and the pharmaceutical chemistry, in addition to basic chemicals, chemical power, and industrial gas. Industries producing detergent wash and ink would also be restructured.

The Ministry of Industry and Trade would implement measures such as renovating policies, simplifying administrative procedures and raising incentives to attract investments in high-tech projects and gradually eliminate outdated technologies.-VNA

VNA
#chemical sector #exports #Ministry of Industry and Trade #restructuring plan #Vietnam National Chemical Group
Follow VietnamPlus

Related News

Chemical group makes debut in Hanoi

Chemical group makes debut in Hanoi

Deputy Prime Minister Truong Vinh Trong has stressed the need to develop the Vietnam National Chemical Group (Vinachem) into a strong conglomerate in the region.
SOE leaders responsible for restructuring sluggishness: PM

SOE leaders responsible for restructuring sluggishness: PM

Prime Minister Nguyen Tan Dung has asked ministries, sectors and State-owned enterprises (SOEs) to speed up their restructuring, saying that if the work is not completed as schedule, their leading officials should voluntarily step down.
Vietnam’s rubber firm exports tyres to US

Vietnam’s rubber firm exports tyres to US

The Southern Rubber Industry JSC (Casumina) on January 5 reached an agreement with its US partner to export tyres to the US market in 2015, according to the Sai Gon Giai phong (Liberated Sai Gon) newspaper.
Vinachem seeks 7.2 percent rise in this year’s revenue

Vinachem seeks 7.2 percent rise in this year’s revenue

The Vietnam National Chemical Group (Vinachem) targets a 7.2 percent yearly increase in its industrial production value to more than 45 trillion VND (2.14 billion USD) and an equal rise in revenue to over 49 trillion VND (2.33 billion USD) in 2015.

See more

Czech Minister of Industry and Trade Lukas Vlcek speaks at the seminar (Photo: VNA)

Czech businesses ramp up pursuit of opportunities in Vietnam

The Vietnam – Czech Republic business networking seminar, held in Hanoi on July 11, opened up numerous prospects for cooperation between the two countries in key areas such as high technology, energy, mining, and the defence industry.

PVI Insurance shines bright with prestigious international awards

PVI Insurance shines bright with prestigious international awards

At the 2025 Insurance Asia Awards, held by Insurance Asia News in Hong Kong, PVI Insurance was the only company from Vietnam to win in all three main non-life insurance categories, Best General Insurer, Outstanding Claims Management and Best Digital Insurer of the Year.

On average, 1,065 cars were sold each day in June. (Photo: tinnhanhchungkhoan)

Car sales increase sharply in June

Passenger cars accounted for the largest number of sales with 22,934 vehicles, up 14.6% over the previous month. Meanwhile, sales of commercial vehicles reached 8,782, down 2%, while specialised vehicle sales reached 261, up 23% over the previous month.

Domestic revenue accounts for 1,158.4 trillion VND, or 69.4% of the yearly estimate. (Photo: VNA)

State budget revenue surges over 28% in H1

A total of 1,988 new projects were licensed in the first half, up 21.7% year-on-year, with newly registered capital amounting to nearly 9.3 billion USD. Foreign investors poured capital into 18 out of 21 economic sectors.

VinFast partners with BatX Energies to promote high-voltage battery recycling. (Photo: VNA)

VinFast partners with Indian firm to promote high-voltage battery recycling

Under the agreement, BatX Energies will provide VinFast with comprehensive solutions for high-voltage (HV) battery recycling, including the recovery of materials such as lithium, cobalt, and nickel, as well as battery repurposing at VinFast’s manufacturing facilities and after-sales network in India.

PM Pham Minh Chinh (centre, front row) and the USABC delegation. (Photo: VNA)

Prime Minister works with USABC to foster economic and investment ties

US businesses appreciated the increasingly favourable investment and business environment in Vietnam, as well as the country’s strong commitments, vision, and concrete actions, particularly the administrative streamlining efforts. They reaffirmed their commitment to long-term investment, production, and business cooperation with Vietnam in the coming period.

Delegates at the fifth meeting of the Vietnam-Pakistan Joint Subcommittee on Trade in Hanoi on July 11. (Photo: MoIT)

Vietnam, Pakistan seek sustainable trade growth

Vietnam and Pakistan have seen steady growth in bilateral trade, with an average annual increase of over 6.7% between 2017 and 2024. Two-way trade reached over 850 million USD last year and approximately 327.5 million USD in the first five months of 2025.

New real estate developments in Thủ Thiêm urban area (Photo: VNA)

HCM City approves 17 housing projects for foreign ownership

The HCM City Department of Construction will publish detailed project information on its official portal and has been instructed to inspect four other projects with foreign involvement in sensitive areas: Hung Vuong 1 – R16, Hung Vuong 2 – R13, Star Hill – C15B (former District 7), and The Prince Residence (former Phu Nhuan district).

Workers remove unripe (green) coffee cherries to ensure quality raw materials for specialty coffee production. (Photo: VNA)

2025 coffee exports hit target, set for record 7.5 billion USD

According to the Ministry of Agriculture and Environment (MAE), Vietnam exported an estimated 953,900 tonnes of coffee worth 5.45 billion USD in the first six months of 2025, increasing by 5.3% in volume and 67.5% in value compared to the same period in 2024.