Thai packaging paper company increases investment in Vietnam

Source: VNA

19:29 | 21/09/2021 Import-Export Follow english.haiquanonline.com.vn on

Thailand’s SCG Packaging Plc (SCGP) will invest 11.79 billion baht (352.9 million USD) to develop a paper factory in its new production complex in northern Vietnam, which has grown into one of the region's major export centres, according to the Bangkok Post newspaper on September 21.

Thai packaging paper company increases investment in Vietnam hinh anh 1

Illustrative image (Photo: VNA)

Thailand’s SCG Packaging Plc (SCGP) will invest 11.79 billion baht (352.9 million USD) to develop a paper factory in its new production complex in northern Vietnam, which has grown into one of the region's major export centres, according to the Bangkok Post newspaper on September 21.

The investment, which will be made through its Vina Kraft Paper Co (VKPC), is aimed at increasing packaging paper production capacity by about 370,000 tonnes a year.

CEO of the SCGP Wichan Jitpukdee expected the new production facility, which will be located in Vinh Phuc province, to start operations in early 2024.

Demand for packaging paper and related packaging products in the country is expected to increase by approximately 6-7 percent a year during 2021-2024, according to the SCGP.

Since 2009, SCGP has rolled out its strategic investment plan in Vietnam by establishing packaging paper production based in the south of the country through VKPC.

The company is a 70:30 joint venture between SCGP and Rengo Co from Japan.

SCGP is confident that it could earn 100 billion baht this year from domestic and overseas businesses as well as merger and acquisition deals, despite the prolonged COVID-19 outbreak./.

Source: VNA

en.vietnamplus.vn

Tags:

Related News

Prioritizing semiconductor workforce training

09:16 | 15/12/2024 Headlines

VCN - Vietnam is well-positioned to participate deeply in the global semiconductor industry. Experts believe that developing a skilled workforce in microchips and semiconductors should be a long-term priority to effectively capitalize on this opportunity.

Vietnam-Cambodia: Looking back on journey of cooperation

14:45 | 11/12/2024 Customs

VCN – The bilateral meeting between the General Department of Vietnam Customs (GDVC) and the General Department of Customs and Excise of Cambodia (GDCEC) was held by the GDVC on December 9.

Vietnam-China e-commerce: A perspective from Lang Son border

13:39 | 06/12/2024 Headlines

VCN - Cross-border e-commerce is currently a hot topic among e-commerce businesses, particularly those actively developing digital platforms and cross-border electronic payment infrastructures through border gates in Lang Son province.

Green transformation: It's time to force businesses to "get involved"

09:23 | 25/11/2024 Headlines

VCN - Implementing ESG (environment, society, corporate governance) and green transformation has become a mandatory requirement for businesses to achieve sustainable development.

Latest News

VN faced with increasing trade defence investigations on rising protectionism

18:58 | 22/12/2024 Import-Export

Việt Nam’s exporters faced a significant increase in the number of trade defence investigation cases this year, on the back of rising protectionism worldwide, according to the Ministry of Industry and Trade.

Việt Nam expects to officially export passion fruit to the US next year

18:55 | 22/12/2024 Import-Export

Negotiations on technical issues were already completed in August. Now, legal procedures are underway for the official export of fresh passion fruit to the US.

UK’s carbon tax to affect VN exports

18:51 | 22/12/2024 Import-Export

The UK’s carbon border adjustment mechanism will take effect in 2027.

Removing obstacles in granting certificates of exploited aquatic products

13:56 | 22/12/2024 Import-Export

VCN - Prime Minister Pham Minh Chinh requested to review all regulations related to the organization and issuance of certificates of origin of exploited aquatic products (SC) at fishing ports, issuance of certificates of origin of exploited aquatic products (CC), and amend inappropriate regulations that cause difficulties and hinder production and business activities in the field of exploitation, processing and export of seafood.

More News

Promoting agricultural exports to the Japanese market

13:55 | 22/12/2024 Import-Export

VCN - Japan's high-quality standards have become a driving force for continuous improvement in Vietnamese agricultural products to meet global consumer expectations and build a strong brand for Vietnamese agricultural products on the world map.

Agricultural exports in 2024 to exceed 60 billion USD?

13:53 | 22/12/2024 Import-Export

VCN - The agricultural sector has basically achieved and exceeded the set targets when the export turnover of agricultural, forestry and fishery products in the first 11 months of 2024 reached 56.74 billion USD, up 19% over the same period in 2023, the trade surplus reached nearly 16.5 billion USD, up 52.8%. This year's agricultural exports are expected to exceed 60 billion USD if the export value in December reaches over 5 billion USD.

Seafood exports expected to exceed $10 billion in 2025: expert

20:28 | 21/12/2024 Import-Export

The achievement of the $10 billion export milestone in 2024 is attributed in part to efforts to open and strengthen connections with key markets such as the US and the EU.

Top 10 Reputable Animal Feed Companies in 2024: Efforts to survive the challenges of nature

18:30 | 21/12/2024 Import-Export

VCN - In the Report announcing the Ranking of Top 10 Reputable Animal Feed Companies in 2024 on December 12, 2024, Vietnam Report Joint Stock Company said that Vietnam's animal feed industry has faced many challenges from natural disasters and epidemics. But overcoming all, the industry continues to survive and has confidence in the future.

Vietnam's import-export surges 15.3%

09:44 | 20/12/2024 Import-Export

Vietnam's total import-export turnover reached 745 billion USD as of December 14, marking a robust 15.3% growth compared to the same period in 2023, according to the General Department of Vietnam Customs.

More Vietnamese firms interested in Saudi Arabia: Ambassador

09:43 | 20/12/2024 Import-Export

An increasing number of Vietnamese enterprises are showing interest in Saudi Arabia, particularly in the sectors of Vietnam's advantages and the Middle East country's needs, a diplomat has said.

“Give and Take” in the Value Chain of the CPTPP Market

09:30 | 20/12/2024 Import-Export

VCN - Vietnamese businesses have many opportunities and advantages if they take advantage of resources from imports and technology transfers when joining the supply chains of FDI companies within the CPTPP.

Binh Dinh province works to attract investment from Japan

15:44 | 19/12/2024 Import-Export

The People’s Committee of Binh Dinh province on December 18 inked a cooperation deal with the Japan - Vietnam Friendship Association of Sakai city as part of the south-central province’s efforts to attract more investment and development resources from the Northeast Asian country.

Agricultural, forestry and fishery exports “reach the target” early

15:20 | 19/12/2024 Import-Export

VCN - According to a report from the Ministry of Agriculture and Rural Development, the export turnover of agricultural, forestry and fishery products in November 2024 is estimated at US $5.3 billion, up 13.9% compared to November 2023. It is notable that it not only “reaching the finish line” early, the agricultural sector also exceeded the annual plan by over US $ one billion.