Vinachem Strengthens Trade Partnership With South Africa
Vietnam National Chemical Group (Vinachem) has stepped up efforts to expand trade and investment cooperation with South Africa through a business promotion mission focused on strengthening supply chains and exploring new market opportunities.
A business networking forum held in Johannesburg on June 24, jointly organised by the Vietnamese Embassy in South Africa and Vinachem, brought together more than 20 South African companies and investors.
Vinachem Chairman Phung Quang Hiep highlighted the group’s position as Vietnam’s leading chemical producer, with annual revenue exceeding US$ 2.5 billion and exports to more than 80 countries. The company plans to expand exports of fertilisers, tyres, detergents, batteries and specialty chemicals to South Africa while sourcing phosphate ore and coal for its domestic operations.
The forum concluded with the signing of a Memorandum of Understanding between Vinachem and the Chemical and Allied Industries’ Association (CAIA) to strengthen cooperation in chemicals, fertilisers, rubber products, batteries, logistics, technology exchange, safety standards and sustainable development.
South African industry representatives noted growing opportunities for partnerships as the country’s chemical sector relies on imports for around 40% of its raw material requirements. Both sides also discussed technology collaboration and potential joint manufacturing projects.
Following the forum, the Vietnamese delegation held business-to-business meetings with local companies and visited major mining firms, including Kropz. Vinachem is also evaluating plans to establish a representative office in South Africa to support future regional expansion.
