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Expanding Markets, Connecting Technology, Aiming for Double-Digit Growth

At the Export Market Strategy Conference 2026–2030 of Vietnam National Chemical Group (Vinachem) on 20th July in Ho Chi Minh City, Mr. Trần Chí Thành, Deputy Director of the Economic Diplomacy Department, Ministry of Foreign Affairs, offered a perspective that contrasted with that of the enterprises. While member units focused on solutions for investment, technological innovation, and market expansion, the Ministry of Foreign Affairs' representative placed Vinachem’s exports within the broader context of national development and highlighted the role of economic diplomacy in supporting business.

According to Mr. Trần Chí Thành, the 2026–2030 period marks Vietnam’s determination to make a breakthrough in economic growth, targeting an average GDP increase of at least 10% per year. This is also the period for implementing Resolution No. 79-NQ/TW of the Politburo on state economic development, in which state economic groups are entrusted with leading foundational industries. For Vinachem, this task is not only about production and market expansion but also about enhancing the competitiveness of Vietnam’s overall industrial base.

Mr. Trần Chí Thành noted that the chemical industry holds a special position, as its products feature in nearly every sector from agriculture, textiles and footwear to electronics, construction, and many other processing industries. Raising competitiveness in chemicals not only improves export value but also benefits many economic sectors through stable, high-quality input materials. Thus, Vinachem’s development is significant not just for the Group but for the competitiveness of the Vietnamese economy as a whole.

Against the backdrop of global economic shifts, Mr. Trần Chí Thành observed that this is a period of new opportunities for Vietnamese businesses. The trend of global supply chain restructuring is prompting many international corporations to seek new suppliers in Southeast Asia. Vietnam—with its geographical advantages, free trade agreements, and improving investment climate—is well placed to participate more deeply in regional and global supply chains.

In fertilisers, recent geopolitical developments have led many countries to focus on food security, opening more opportunities for Vietnamese fertilisers in markets such as Africa and South Asia.

In parallel, the growing demand for green development is becoming an inescapable trend in international commerce. Tighter standards on the environment, emissions, and sustainability will place greater pressure on businesses but will also motivate the chemical industry to invest in modern technology, develop high-quality specialty chemicals, and supply materials supporting the energy transition.

Alongside these opportunities, the Foreign Ministry’s representative also cautioned that international trade policy is changing rapidly. Tariffs, technical barriers, and product standards can all directly affect exports. Enterprises must therefore diversify markets, reduce dependence on traditional markets, and continually update information to respond promptly.

According to Mr. Trần Chí Thành, economic diplomacy today is not only about connecting markets, but also accompanying businesses in their investment and overseas operations; providing forecasting and early warnings on policy changes; and enabling enterprises to expand internationally step by step.

Supporting Businesses to Expand International Markets

To support Vinachem’s development goals for 2026–2030, the Ministry of Foreign Affairs proposed three main areas of cooperation.

First is to support export market expansion through the network of Vietnamese missions abroad. This network will connect Vinachem with import partners in high-potential markets such as India, Latin America, and Africa; coordinate trade missions, exhibitions, and trade fairs; and facilitate international recognition of Vietnamese chemical product quality in demanding markets like the EU, US, and Japan.

The Ministry of Foreign Affairs will also incorporate Vinachem’s cooperation interests into high-level visits and intergovernmental committee meetings with key partners. This is an important channel for securing product standard recognition, overcoming non-tariff barriers, and creating new market opportunities.

A further priority stressed by Mr. Trần Chí Thành is promoting technology transfer and investment cooperation. As Vinachem prioritises fields such as battery production, technical rubber, and processing of essential minerals, the Ministry stands ready to connect the Group with partners in Japan, Korea, Germany, France, China, and international investment promotion organisations to find suitable cooperation opportunities.

A notable feature of Mr. Trần Chí Thành’s address was that each proposal was coupled with a concrete coordination mechanism, aiming for practical effectiveness rather than general direction.

Accordingly, the Foreign Ministry suggested that both parties maintain regular information exchange so Vinachem can proactively request support for each market and product group. Both sides will also select several priority international cooperation projects, define clear objectives, timelines, and focal points for easier monitoring and evaluation.

Furthermore, setting up direct liaison between the Economic Diplomacy Department and Vinachem’s international cooperation division will help promptly address emerging issues in trade promotion, investment, and partner connections, thereby enhancing cooperation efficiency.

In conclusion, Mr. Trần Chí Thành reaffirmed that the Ministry of Foreign Affairs will continue to accompany Vinachem in expanding markets, connecting partners, attracting technology, and resolving challenges in international operations. The country’s double-digit growth target and development of the chemical industry by 2030 can only be achieved if state economic groups fulfil their leading roles, with Vinachem continuing to affirm its position as the key enterprise in Vietnam’s chemical industry.

The content shared at the Conference made clear that the role of economic diplomacy is expanding—from trade promotion and partner connection to supporting businesses in technology access, risk forecasting, and overcoming challenges in the process of integration. For Vinachem, the Ministry of Foreign Affairs’ support will create added impetus for export market expansion, competitiveness enhancement, and achievement of development goals for 2026–2030, contributing to the nation’s overall growth objectives.