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Thailand-based SCG sets Vietnam as backup packaging market 10:09 | 19/02/2021
SCG and Duy Tan reached the deal on February 9
A few days ago, the Vietnamese packaging sector was shocked by the news that Duy Tan decided to sell 70 per cent of its stakes share to SCG after many years of negotiation.
The move took place right after the Thai player announced ownership of another local company, Bien Hoa Packaging JSC.
The two sides remain silent about the particulars of the deal. Nevertheless, according to a source of
doanhnghieptiepthi.vn, SCG plans to initially purchase 70 per cent of five of Duy Tanâs 22 subsidiaries which focus on plastic and packaging.
SCG s petrochemical facility in Rayong where a plastic recycling plant project will be carried out.
SET-listed Siam Cement Group (SCG) expects its total earnings in 2021 will grow by 5-10% from 399 billion baht last year, believing its businesses are likely to be driven by high value-added product development and the circular economy.
Petrochemical and packaging will remain flagship revenue contributors for the company, Thailand s largest cement maker and industrial conglomerate. We have a positive outlook for our businesses because we have strong strategies, said SCG president and chief executive Roongrote Rangsiyopash. The company is focused on high value-added products and global trends to support our businesses during the outbreak.
Thai investors focus on sustainability in Vietnam
By Tam An January 20, 2021 | 09:30 am GMT+7
In addition to impressive growth in the number of projects and registered capital, many Thai investors place sustainability as their top concern when investing in Vietnam.
Data from the Ministry of Planning and Investment shows that, in 2020, Thailand has 40 new registered projects, 23 registered capital adjustment projects and 100 capital contribution and share purchases in Vietnam with total registered capital of nearly $1.8 billion. This number is double that of 2019 and nearly seven times that for the period 2015-2020.
Since the establishment of diplomatic ties in 1976, the economic relationship between Thailand and Vietnam has developed endlessly. Direct investment flows from Thailand into Vietnam have continuously increased by an average 13 percent per annum over the past 10 years.