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Top 5 largest chemical companies in Vietnam

Top 5 largest chemical companies in Vietnam

Monday 21, 02 2022
Vietnam National Chemical Group (Vinachem) is the largest chemical company in Vietnam with annual revenue of over $1 billion. Following is Ducgiang Chemicals Group Joint Stock Company, which used to be a state-owned enterprise but has been equitized and operates very effectively, generating a lot of profit.

Top 5 Chemical companies

1. VIETNAM NATIONAL CHEMICAL GROUP

Vietnam National Chemical Group (Vinachem) is a multi-owned enterprise, in which state ownership is dominant. The company operates under the model of Parent - Subsidiary company, and was established under Decision No. 2180 TTg dated 23 December 2009 by the Prime Minister on the basis of arrangement and reorganization of the Vietnam Chemical Corporation.

On June 23, 2010, with Decision No. 953/QD-TTg of the Prime Minister, the parent company - Vietnam National Chemical Group was transformed into a one-member limited liability company owned by the State.

In addition to the parent company, the Group currently has 03 subsidiaries with 100% charter capital held by the group, 21 subsidiaries where the group holds over 50% of charter capital, 13 companies with less than 50% charter capital held by the group, 01 research institute, 01 college.

Vinachem specializes in the production and trading of fertilizers and pesticides; basic chemicals, consumer chemicals; industrial chemical, pharmaceutical chemistry, petrochemical; rubber processing; and mining.

The group's revenue is estimated at 51,200 billion VND in 2021, equal to 116% of the year plan, up 24% compared to 2020. In the same period, the Group produced and supplied to the market 3,534 million tons of fertilizers of all kinds; 3.6 million car tires; 2.16 million kWh battery; nearly 253 thousand tons of detergents and many chemical products. In addition, the total import-export turnover reached 716.8 million USD, reaching 147% of the year plan.

VIETNAM NATIONAL CHEMICAL GROUP

2. DUCGIANG CHEMICALS GROUP JOINT STOCK COMPANY

Duc Giang Chemicals Group Joint Stock Company, formerly known as Duc Giang Chemical Company, was a state-owned enterprise under the General Department of Chemicals of Vietnam, established in 1963.

In March 2004, the company changed its model and officially operated in the form of a joint stock company with the name Duc Giang Chemicals Group Joint Stock Company according to Decision No. 10/2004/QD- BCN dated February 13, 2004 of the Ministry of Industry.

Over the years of establishment and development, Duc Giang Chemical has made constant efforts to become one of the leading enterprises in Vietnam in the field of industrial chemicals. Since equitization, the company has always been a leader in the field of phosphate chemicals and is aiming to produce phosphate compounds for use in the pharmaceutical field. The main activity of the company is the production of washing powder and detergent.

In the first 6 months of 2021, Duc Giang Chemical achieved net revenue of 3,988 billion VND, up 28.8% compared to the first half of 2020, of which export sales reached 2,812 billion VND, accounting for over 70% total revenue.

DUCGIANG CHEMICALS GROUP JOINT STOCK COMPANY

3. LAM THAO FERTILIZERS AND CHEMICALS JOINT STOCK COMPANY

The predecessor of Lam Thao Fertilizers and Chemicals Joint Stock Company (LAS) was Lam Thao Superphosphate Factory, which was constructed by the Government of the Democratic Republic of Vietnam on June 8, 1959. After 3 years of construction, the factory was inaugurated and put into production on June 24, 1962.

Through the process of construction and development, LAS has always maintained its leading role in the production and trading of fertilizers and chemicals in Vietnam, supplying nearly 20 million tons of fertilizer for the market.

In 2021, LAS achieved revenue of 2,905 billion VND, up 21.8% compared to the previous year. Profit after tax reached 66.9 billion VND, up 130% compared to 2020. As of December 31, 2021, LAS had 18.3 billion VND in cash. The company also has short-term financial investments of 380 billion VND.

LAM THAO FERTILIZERS AND CHEMICALS JOINT STOCK COMPANY

4. SOUTH BASIC CHEMICALS JOINT STOCK COMPANY

Southern Basic Chemicals Joint Stock Company (CSV) is the leading manufacturer of basic inorganic chemicals in Vietnam, under the Vietnam Chemical Group. 

The company was established on July 21, 1976 under Decision No. 240/HC of the General Department of Chemicals including 04 subsidiaries: Bien Hoa Chemical Factory (VICACO), Tan Binh Chemical Factory (COPHATA), Dong Nai Chemical Factory and Thu Duc Chemical Factory. After its establishment, due to the needs of research, production and development, the company established a number of additional units such as Bao Loc Bauxite Mine (November 26, 1976), Experimental Research Workshop (1977) and Mechanical Workshop.     

In the 1990s, Vietnam's economy began to open up and integrate. Faced with that situation, in accordance with the general development direction and the need for market restructuring, from a state-owned enterprise, the company was transformed into Southern Basic Chemical Company on March 5, 1993.

In the first 9 months of 2021, the company recorded 794 billion VND of net income, up 2.8% over the same period. In which, sales of finished products accounted for 91%. However, due to the sharp increase in cost of goods (due to the increase in the cost of H2SO4), the profit margin was reduced, making the gross profit decrease by 6.2% over the same period.

As of September 30, 2021, the total assets of the parent company increased by 2% compared to the beginning of the year, reaching more than 1,245 billion VND. In particular, short-term receivables increased by 20%, to more than 162 billion VND. Inventories increased by 16.5% to 233 billion VND. Liabilities decreased by 26% to nearly 185 billion VND.

SOUTH BASIC CHEMICALS JOINT STOCK COMPANY

5. VIET TRI CHEMICAL JOINT STOCK COMPANY

Viet Tri Chemical Company under the General Department of Chemicals (now Viet Tri Chemical Joint Stock Company under the Vietnam Chemical Group - Ministry of Industry and Trade) is the first company to produce basic chemicals by electrochemical method in Vietnam.

Starting operation in 1961, in 1995 the factory changed its name to Viet Tri Chemical Company under the General Chemical Corporation - Ministry of Industry. In 2005, implementing the policy of equitization of SOEs, Viet Tri Chemical Company became Viet Tri Chemical Joint Stock Company.

In recent years, Viet Tri Chemical regularly achieves a growth rate of 10 to 15 percent.

VIET TRI CHEMICAL JOINT STOCK COMPANY

Alice Hoang Thao - VietnamCredit

 

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