Want to be in the loop?
subscribe to
our notification
Business News
GOV'T APPROVES CHEMICAL INDUSTRY DEVELOPMENT STRATEGY TILL 2040
Deputy Prime Minister Le Van Thanh has signed a Decision approving Viet Nam’s chemical industry development strategy till 2030, with a vision to 2040.
Accordingly, the chemical industry will be developed in a sustainable and eco-friendly manner towards green growth and circular economy.
Under the strategy, the chemical industry is expected to achieve annual average growth rate of 10-11 per cent by 2030 and 7-8 percent by 2040.
The sector is projected to account for around 4-5 percent of the country's industrial production over the span, and raise annual average export growth rate to 9-11 percent during 2021-2030 and 7.5-9 percent for 2030-2040 period.
By 2040, the strategy targets to increase supply of petroleum products for local consumption to 60 percent, active plant protection substances to 50 percent, basic chemicals to 80 percent, technical rubber to 50 percent and batteries to 50 percent.
The chemical industry will be divided into 10 sub-sectors including fertilizers, pesticides, pharmaceutical chemicals, petrochemicals, basic chemicals (including explosive precursors and industrial explosives), rubber products, electrochemistry, detergents, paint–printing ink and industrial gases.
Source: VCCI
Related News
MEMBER CORNER / PROMOTIONS
VIETNAM RISING STAR: CONNECTING GLOBAL CAPITAL TO VIETNAM'S HIGH-GROWTH FRONTIERS
Vietnam stands at a pivotal inflection point as global supply chains reconfigure and capital seeks resilient, innovation-driven markets. HKBAV is proud to support the exclusive Inbound Investment Forum "Vietnam Rising Star: Connecting Global Capital to Vietnam's High-Growth Frontiers", bringing together global investors, corporate decision-makers, and financial experts to unlock the next wave of foreign direct investment and strategic M&A opportunities in Vietnam!
MEMBER CORNER / PROMOTIONS
VIETNAM GO GLOBAL: MASTERING OUTBOUND INVESTMENTS & EXPANSION FROM LOCAL TO GLOBAL
Vietnamese enterprises are increasingly looking beyond domestic borders to scale on the international stage. HKBAV is proud to support the exclusive Outbound Investment Forum "Vietnam Go Global - Mastering Outbound Investments & Expansion from Local to Global", bringing together influential corporate decision-makers, global investors, and financial experts to navigate the practicalities of cross-border expansion!
MEMBER CORNER / PROMOTIONS
VIETNAM'S MANUFACTURING STORY HAS CHANGED IN 2026
Vietnam is no longer attracting investment solely because of its competitive costs. Today, global manufacturers are increasingly choosing Vietnam for its expanding industrial ecosystem, resilient supply chains and growing role in high-value sectors such as semiconductors, electronics and advanced manufacturing.
VIETNAM ECONOMY INVESTMENT
VIỆT NAM STEPS UP EXPORT TO ACHIEVE US$550-BILLION TARGET
Việt Nam is intensifying efforts to sustain export momentum in the second half of 2026 as the country works towards its target of US$550 billion in export revenue for the year, despite continuing uncertainties in global trade. Statistics show that exports reached $266.5 billion in the first six months, meaning the economy needs to generate around $245.5 billion more during the remainder of the year to meet the annual goal.
VIETNAM ECONOMY INVESTMENT
ASIA POWERS VIETNAM’S SHRIMP BOOM, LEAVING THE WEST BEHIND
In the first half of 2026, Vietnam's shrimp exports surpassed the US$2.3 billion mark, driven largely by booming demand from China and a lobster craze. But behind that growth figure lies a lopsided picture: Asia is carrying the load, while the U.S. and Europe have yet to break out. These days, a container of frozen shrimp leaving a Ho Chi Minh City port is more likely to cross the East Vietnam Sea to Shanghai than the Pacific to Los Angeles.
VIETNAM ECONOMY INVESTMENT
CHINESE INVESTMENT WAVE OPENS NEW DOORS
As Chinese companies move beyond factory relocation to ecosystem-driven investment, Vietnam has a rare opportunity to evolve from a low-cost production base into a strategic node in regional value chains. When global companies first diversified supply chains, the focus was largely on relocating manufacturing capacity.
Events Sponsors
