Thai group to expand investment in Vietnam
Siam Cement Group (SCG) from Thailand considers Vietnam a key market in its strategy to expand investment in the Southeast Asian region.
SCG President and CEO Kan Trakulhoon said that Vietnam has always been an important market in the group’s business strategy in the ASEAN region since the group entered the country in 1992.
“We will continue our investment in this potential market, focusing on cement, building materials, paper and chemicals,” he stressed.
SCG currently has 19 affiliates in Vietnam which have total assets worth US$615 million. The group posted VND6.7 trillion (US$320 million) in sales revenue in the Vietnamese market last year, an 11 % increase from a year earlier.
In the first half of this year, the figure saw a year-on-year increase of 43 % to hit VND4.9 trillion (US$230 million).
Last December, the Thai group paid VND5.12 trillion (US$240 million) for 85 % of Prime Group, a leading building material producer in Vietnam, a strategic step to consolidate its competitiveness in ASEAN. Kan Trakulhoon noted significant changes in Vietnam’s investment and business environment.
“Vietnam is an emerging economy with a large and dynamic population and good business environment. Remarkably, we have seen its efforts in building an ASEAN Economic Community. In this context, Vietnam has many favourable factors for our future plans,” he added.
“We will continue our investment in this potential market, focusing on cement, building materials, paper and chemicals,” he stressed.
SCG currently has 19 affiliates in Vietnam which have total assets worth US$615 million. The group posted VND6.7 trillion (US$320 million) in sales revenue in the Vietnamese market last year, an 11 % increase from a year earlier.
In the first half of this year, the figure saw a year-on-year increase of 43 % to hit VND4.9 trillion (US$230 million).
Last December, the Thai group paid VND5.12 trillion (US$240 million) for 85 % of Prime Group, a leading building material producer in Vietnam, a strategic step to consolidate its competitiveness in ASEAN. Kan Trakulhoon noted significant changes in Vietnam’s investment and business environment.
“Vietnam is an emerging economy with a large and dynamic population and good business environment. Remarkably, we have seen its efforts in building an ASEAN Economic Community. In this context, Vietnam has many favourable factors for our future plans,” he added.