VIETNAM CHEMICAL INDUSTRY REPORT Q1/ PDF Free Download

VIETNAM CHEMICAL INDUSTRY REPORT Q1/2018

TABLE OF CONTENTS Content Page Content Page Abbreviations 4 3.2. Definition and classification 25 Summary 5 3.4. Production and consumption 28 1. Business environment 7 3.5. Import Export 31 1.1. Macroeconomic Indicator 8 4. Major sector groups 33 1.2. Legal framework 12 4.1. Fertilizers and nitrogen compounds 33 2. World market 15 4.2. Synthetic rubber and raw plastic resins 46 2.1. Production 16 4.3. Detergents 61 2.2. Consumption 19 4.4. Paint and printing ink 68 3. Vietnam market 22 4.5. Plant protection products 77 3.1. Formation and development history 23 4.6. Basic chemicals 86 2

MỤC LỤC Nội dung Trang Nội dung Trang 4.7. Synthetic fiber 94 6. Outlooks and forecasts 101 6.1. Development planning of the chemical industry 101 6.2. Outlooks of world chemical industry 108 6.3. Outlooks of Vietnam chemical industry 113 7. Business Analysis 116 7.1. Enterprise introduction 116 7.2. Financial analysis 127 3

Content ABBREVIATIONS ACFTA ASEAN China Free Trade Agreement FP Fire protection ADB Asian Development Bank PVN Vietnam Oil and Gas Group AFTA ASEAN Free Trade Area STK Century Synthetic Fiber Corporation AKFTA ASEAN Korea Free Trade Agreement GDVC General Department of Vietnam Customs PPPs Plant Protection Products GSO General Statistics Office of Vietnam CPI Consumer Price Index FA Fixed Assets CP NVL Raw Materials Expenses HCM Ho Chi Minh City JSC Joint Stock Company TA Total Assets FDI Foreign Direct Investment VFC Vietnam Fumigation Joint Stock Company GDP Gross Domestic Product Vinachem Vietnam National Chemical Corporation IIP Index of Industrial Production VPIA Vietnam Paint & Printing Ink Association LAS Linear Alkylbenzen Sulfonate WTO World Trade Organization LAS Supephotphat and Lam Thao chemicals 4

Summary Paint and printing ink Chemical industry has 8 sub-product categories including: Plant protection products: Fertilizers and nitrogen compounds: Basic chemicals: Synthetic rubber and raw plastic resins: Detergents: 5

Summary Synthetic fiber: Almost all enterprises in the industry are small and medium-sized and are facing up to fierce competition with multinational corporations Technical machinery system of the chemical industry is largely medium-sized compared to that of some countries in the region Vietnam chemical industry is still in strong development 6

TABLE OF CONTENTS 1. Business environment 1.1 Macroeconomic situation 1.2 Legal framework 7

1. Business environment 1.1 Macroeconomic situation GDP growth rate by quarter, 2015-2017 GDP by current price and GDP per capita, 2013-2017 Sources: VIRAC, GSO Sources: VIRAC, GSO Nội dung được xóa nhằm mục đích demo 9

1. Business environment 1.1 Macroeconomic situation Consumer price index (CPI) in 2017 had a lot of changes. Monthly CPI fluctuations 2014-2017 Source: VIRAC, GSO 9

1. Business environment 1.1 Macroeconomic situation USD Million Import and export of commodity, 2006-2017 Source: VIRAC, GDVC USD Billion Vietnam's export of crude oil and coal, 2011-2017e Source: VIRAC, GDVC 10

1. Business environment 1.1 Macroeconomic situation VND/USD exchange rate, 2013-2017 VND/CNY exchange rate, 2/2016-12/2017 Source: VIRAC, SBV Source: VIRAC, SBV In 2017, the VND / USD exchange rate was quite stable around VND 22,400 11

TABLE OF CONTENTS 1. Business environment 1.1 Macroeconomic situation 1.2 Legal framework 12

1. Business environment 1.2 Legal framework 1.2.1 General rules Groups of policy on the chemical industry 13

1. Business environment 1.2 Legal framework 1.2.1 General rules Impact evaluation of laws, circulars and decrees on the business activities in the sector. 14

TABLE OF CONTENTS 2. World market 2.1 Production 2.2 Consumption 16

2. World market 2.1 Production USD Billion World production value of chemicals, 2010-2016e Structure of chemical production by region, 2015e Source: VIRAC, BASF Source: VIRAC, BASF 21

2. World market 2.1 Production In 2016, production volume of chemicals in all regions was estimated to increase, Chemical production growth by region, 2014 2020e Source: VIRAC, Statista Production structure of chemical products worldwide, 2015 Source: VIRAC, Statista 22

2. World market 2.1 Production Forecast for annual production growth in chemical industry by field, 2016-2021e Source: VIRAC, Statista 23

TABLE OF CONTENTS 2. World market 2.1 Production 2.2 Consumption 24

2. World market 2.2 Consumption In 2015, the whole world witnessed a decline in the global chemical industry; USD Billion Global Chemical Industry's Revenue, 2007-2016e Sales growth in chemical industry by region, 2015 2018F 13% 25% 17% 13% 00) 00) 00) Source: VIRAC, Statista Source: VIRAC, Statista 25

2. World market 2.2 Consumption Euro billion Top 10 most chemicals consuming countries, 2016 Source: VIRAC, Statista Euro billion Revenue from chemical consumption by region, 2016 Source: VIRAC, Statista 26

TABLE OF CONTENTS 3. Vietnam market 3.1 Formation and development history 3.2 Definition and classification 3.3 Production and consumption 3.4 Import Export 42

3. Vietnam market 3.1 Formation and development history Definition Formation and development history of Vietnam chemical industry 43

TABLE OF CONTENTS 3. Vietnam market 3.1 Formation and development history 3.2 Definition and classification 3.3 Production and consumption 3.4 Import Export 44

3. Vietnam market 3.2 Definition and classification Product group Input materials Main product Customer Source: VIRAC, GSO 45

3. Vietnam market 3.2 Definition and classification In 2016, fertilizer and Nitrogen Compounds represent the largest share of the chemical industry, Industry structure by revenue, 2016 Sources: VIRAC, GSO Revenue in the fields of chemical industry in Vietnam, 2011 2017e Unit: trillion VND Fields 2011 2012 2013 2014 2015 2016 Sources: VIRAC, GSO 46

TABLE OF CONTENTS 3. Vietnam market 3.1 Formation and development history 3.2 Definition and classification 3.3 Production and consumption 3.4 Import Export 51

3. Vietnam market 3.3 Production and consumption Number of enterprises and labor in chemical industry,2011-2016 Enterprise Person VND billion Source: VIRAC, GSO Revenue and profit of chemical industry, 2010-2016 Total investment capital and fixed assets of chemical industry, 2011-2016 VND billion Source: VIRAC,GSO Source: VIRAC,GSO 52

3. Vietnam market 3.3 Production and consumption Production value of chemical industry, 2007 2018e VND trillion Source: VIRAC, GSO Consumption value of chemical industry, 2011-2017e VND trillion Source: VIRAC, GSO 53

TABLE OF CONTENTS 3. Vietnam market 3.1 Formation and development history 3.2 Definition and classification 3.3 Production and consumption 3.4 Import Export 54

3. Vietnam market 3.4 Import Export USD Million Imports and exports of chemicals and chemical products, 2017e Import market structure of chemicals and chemical products, 2017e Source: VIRAC, GDVC Source: VIRAC, GDVC Export market structure of chemicals and chemical products, 2017e Source: VIRAC, GDVC 55

TABLE OF CONTENTS 4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.2 Synthetic rubber and raw plastic resins 4.3 Detergents 4.4 Paint and printing ink 4.5 Plant protection products 4.6 Basic chemicals 4.7 Synthetic fiber 56

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.1 Definition and classification Structure of major fertilizers 2014 Source: VIRAC, GSO 58

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.2 Basic production process Production process of nitrogenous fertilizer NPK production process Production process of fused phosphate fertilizer Source: VIRAC 58

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.3 Production Production and consumption of domestic producers, 2012-2017e Million tons Revenue of the fertilizer industry, 2010-2016 Source: VIRAC, GSO, MARD, GDVC Source: VIRAC, GSO Million tons Domestic fertilizer production, 2010-2017e Source: VIRAC, GSO 62

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.3 Production Production capacity của Key players in the industry, Q3/2017e Group No Enterprise Design capacity(thousand tons/year) Source: VIRAC 62

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.3 Production Domestic fertilizer supply was mainly from large companies from Vinachem and PVN, which is particularly: 63

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.4 Consumption In 2017, the weather is abnormal, causing difficulties for agricultural production. Fertilizer demand and consumption, 2012-2017e Million tons 0,9 Fertilizer consumption tends to decrease over the years, which is due to 2,0 Sources: VIRAC, GSO, MARD 64

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.4 Consumption Demand for fertilizer by type of plants, 2015 Thousand tons 0,9 2,0 Source: VIRAC, MARD 65

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.5 Import Export Fertilizer imports have fluctuated continuously over the years as the impact of the domestic demand - supply and import and export tax policies as well as major import markets. Thousand tons Fertilizer import, 2012 2017e Sources: VIRAC, GDVC, MARD Structure of fertilizer import by type, 2017 Sources: VIRAC, MARD, GDVC 68

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.5 Import Export Fertilizer imports from China have fallen sharply in the fertilizer import structure due to the impact of tax policies in ASEAN Fertilizer import structure by country, 2016 2017 Source: VIRAC, MARD, GDVC 69

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.5 Import Export Exports have decreased continuously over the years since 2012, due to the competition with Chinese fertilizer in Korea and Cambodia. However, in 2017, the output of fertilizer export has grown strongly with the export volume grew strongly in ASEAN countries such as Cambodia, Malaysia... Million tons Fertilizer exports, 2012 2017e Source: VIRAC, MARD, GDVC 70

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.5 Import Export Fertilizer exports by country, 2017e Fertilizer exports by country, 2016-2017 Thousand tons Source: VIRAC, GDVC Asian countries continue to be the main export markets of Vietnam. Source: VIRAC, GDVC Fertilizer exports in the 2017 to all markets increased sharply, particularly in Asian countries. Specifically: 71

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.6 Price movement Ure and DAP fluctuate in 2017 especially at the end of the year which is caused by : VND Price movement, 2014-2017 Ure Source: VIRAC, Trade Promotion Website - MOIT 73

4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.1.6 Price movement Price forecasts 45

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.1 Definition and classification Polymer structure used, 2015 17% Content is Source: intentionally VIRAC, ICIS removed for demo purpose 77

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.1 Definition and classification Structure of synthetic rubber production in the world, 2015 Source: VIRAC, Rubbernews 78

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.2 Basic production process

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.3 Production Some types of plastic raw materials produced in the country 2017 Product Province/city Production(ton) Number of enterprises and labor in the plastic resins group, 2010-2015 Sources: VIRAC Sources: VIRAC, GSO 83

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.3 Production Thousand tons Polymer production, 2010 2017e Source: VIRAC, GSO, MOIT Thousand tons Polypropylene supply and demand in Vietnam, 2010-9M/2017e Source: VIRAC, GSO, MOIT 83

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.4 Consumption LLDPE, LDPE, HDPE, PP distribution from enterprises in 2014-2015 in the Northern market No Company name Sales (tons/year) Market share PP production output and consumption of Binh Son Refining and Petrochemical, 2013 6M/2017 Sources: VIRAC, HCD Prospectus 85

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.4 Consumption Polymer consumption in Vietnam, 2010-2017 Source: VIRAC, GSO, MOIT Market share of plastic additives, 2017 Source: VIRAC, GSO, MOIT 85

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.5 Import Export Import of plastic raw materials in Vietnam, 2010-2017 Source: VIRAC, GDVC Import market of plastic raw materials by value, 2017 Import market of plastic raw materials by volume, 2017 Source: VIRAC, GDVC Source: VIRAC, GDVC 85

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.5 Import Export Proportion of top importers of plastic raw materials, 9M/2017 Sources: VIRAC, GSO Import structure of plastic raw materials by type, 2017 Sources: VIRAC, GSO 55

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.5 Import Export Import - export of synthetic rubber, 2011-2017e Source: VIRAC, GDVC, UN Comtrade 85

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.5 Import Export Export market structure of synthetic rubber, 2017e Source: VIRAC, GDVC Import market structure of synthetic rubber, 2017e Source: VIRAC, GDVC 85

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.6 Price movement USD/ton Polymer price fluctuations, 5/2015 9/2017 Source: VIRAC, Plastics New Europe 58

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.6 Price movement USD/ton Fluctuations of natural rubber and synthetic rubber prices, 2012 Q3/2017 Source: VIRAC, IRSG 59

4. Major sector groups 4.2 Synthetic rubber and raw plastic resins 4.2.6 Price movement 93

4. Major sector groups 4.3 Detergents 4.3.1 Definition and classification Detergents Number of enterprises and labor in the industry, 2011-2016 Source: VIRAC, GSO 95

4. Major sector groups 4.3 Detergents 4.3.2 Production process Source: VIRAC 96

4. Major sector groups 4.3 Detergents 4.3.3 Production Production volume of detergents, 2010 2017e Product group Enterprise 2010 2011 2012 2013 2014 2015 2016 2017e Thousand tons Production volume of detergents, 2010 2017e Source: VIRAC, MOIT, GSO Source: VIRAC, GSO 99

4. Major sector groups 4.3 Detergents 4.3.3 Production No Enterprise Production capacity (tons/year) Brand Washing powder is the main product accounting for more than 90% of annual detergent production. Source: VIRAC 100

4. Major sector groups 4.3 Detergents 4.3.4 Consumption VND billion Consumption value of detergents, 2010-2017e Source: VIRAC, GSO 101

4. Major sector groups 4.3 Detergents 4.3.5 Import Export USD Million Import value of detergents, 2017e Source: VIRAC, GDVC Import market structure of detergents, 2017e Source: VIRAC, GDVC 106

MỤC LỤC 4. Major sector groups 4.1 Fertilizers and nitrogen compounds 4.2 Synthetic rubber and raw plastic resins 4.3 Detergents 4.4 Paint and printing ink 4.5 Plant protection products 4.6 Basic chemicals 4.7 Synthetic fiber 108

4. Major sector groups 4.4 Paint and printing ink 4.4.1 Definition and classification Definition and classification Classification 109

4. Major sector groups 4.4 Paint and printing ink 4.4.2 Production process Production process of paint and printing ink Source: VIRAC 110

4. Major sector groups 4.4 Paint and printing ink 4.4.3 Production Vietnam paint industry has experienced an average growth rate of 20% in recent years. Number of enterprises and labor in the paint and printing ink industry, 2011-2016 Company name Production capacity Brand Source: VIRAC, GSO Source: VIRAC 112

4. Major sector groups 4.4 Paint and printing ink 4.4.3 Production Thousand tons Production volume of paint, 2010-2017e Production volume of printing ink, 2010-2017e Ton Source: VIRAC, GSO Source: VIRAC, GSO 113

4. Major sector groups 4.4 Paint and printing ink 4.4.3 Production Cause of the decline in production volume is the paint industry is facing up to some difficulties as follows: 114

4. Major sector groups 4.4 Paint and printing ink 4.4.3 Production In addition, some paint industries also had positive growth in 2016: 115

4. Major sector groups 4.4 Paint and printing ink 4.4.4 Consumption VND billion Consumption value of paint and printing ink, 2010-2017e Source: VIRAC, GSO Paint consumption structure by field, 2015 Source: VIRAC, VPIA 116

4. Major sector groups 4.4 Paint and printing ink 4.4.5 Import Export USD Million Import and export of paints and printing ink of Vietnam, 2011-6M / 2017e Import market structure of paints and printing ink, 2016e Content is intentionally Source: VIRAC, UN Comtrade, removed ITC for demo purpose Source: VIRAC, UN comtrade Domestic paint production capacity has met most of the demand, but the amount of ink shortage is quite large, Export market structure of paints and printing ink, 2016e Source: VIRAC, UN comtrade 118

4. Major sector groups 4.5 Plant protection products 4.5.1 Definition and classification Plant protection products (PPPs) Classification: Effect of PPPs 120

4. Major sector groups 4.5 Plant protection products 4.5.2 Production process Source: VIRAC Source: VIRAC 121

4. Major sector groups 4.5 Plant protection products 4.5.3 Production Number of enterprises and labor in the industry,2011-2016 Source: VIRAC, GSO Thousand tons Production volume of pesticides, 2013-2017e Source: VIRAC, GSO 123

4. Major sector groups 4.5 Plant protection products 4.5.3 Production Structure of pesticide production, 2017 Source: VIRAC, GSO Structure of pesticide consumption, 2016e Source: VIRAC, Agromonitor 124

4. Major sector groups 4.5 Plant protection products 4.5.4 Consumption Market share of pesticides in Vietnam, 2016e VND billion Consumption value of pesticides, 2012-2017e Source: VIRAC Source: VIRAC, GSO 125

4. Major sector groups 4.5 Plant protection products 4.5.4 Consumption Consumption structure of pesticides by product group, 2017 Consumption of pesticides by plant group, 2016 Source: VIRAC Source: VIRAC 126

4. Major sector groups 4.5 Plant protection products 4.5.5 Import Export USD Million Import and export of pesticides and raw materials, 2011-2017e Export structure of export of pesticides by volume, 2016 Content is intentionally Source: VIRAC, GDVC, ITC removed for demo purpose Source: VIRAC, ITC Export value of pesticides in Vietnam to some countries, USD Million 2011-2016 Source: VIRAC, GDVC, ITC 129

4. Major sector groups 4.5 Plant protection products 4.5.5 Import Export Import market of pesticides and raw materials, 2017e Source: VIRAC, GDVC 130

4. Major sector groups 4.6 Basic chemicals 4.6.1 Definition and classification Basic chemicals are divided into two main branches which are inorganic and organic. 133

4. Major sector groups 4.6 Basic chemicals 4.6.2 Production process Production process of caustic soda - chlorine Source: VIRAC 134

4. Major sector groups 4.6 Basic chemicals 4.6.3 Production Number of enterprises and labor in the industry, 2011-2016 Product Manufacturer Production capacity (tons/year) Market share Content is intentionally Source: VIRAC, GSO removed for demo purpose 138

4. Major sector groups 4.6 Basic chemicals 4.6.3 Production Thousand tons Production of basic chemicals, 2013-2017e Source: VIRAC, GSO 139

4. Major sector groups 4.6 Basic chemicals 4.6.4 Consumption Comsumption value of basic chemicals, 2011-2017e VND billion Source: VIRAC, GSO 140

4. Major sector groups 4.6 Basic chemicals 4.6.4 Consumption Impact of chlorine products Impact of soda products 141

4. Major sector groups 4.6 Basic chemicals 4.6.5 Import Export USD Million Import-export turnover of basic chemicals, 2011-2017e Imports and exports of basic chemicals Source: VIRAC, GDVC Import market structure of basic chemicals, 2017e Export market structure of basic chemicals, 2017e Source: VIRAC, GDVC Source: VIRAC, GDVC 142

4. Major sector groups 4.7 Synthetic fiber 4.7.1 Definition and classification Synthetic fiber 144

4. Major sector groups 4.7 Synthetic fiber 4.7.2 Production process Filament fiber production Source: VIRAC, STK 145

4. Major sector groups 4.7 Synthetic fiber 4.7.3 Production Production capacity of some companies in the Vietnam textile industry Company name Capacity(tons/year) Product Product segment Ton Production output of Synthetic fiber, 2011-2017e Source: VIRAC, STK Market share by actual production capacity, 2014 Source: VIRAC, GSO Source: VIRAC, STK 148

4. Major sector groups 4.7 Synthetic fiber 4.7.4 Consumption Ton Volume and comsumption value of Synthetic fiber, 2011-2017e VND billion Source: VIRAC, GSO 149

4. Major sector groups 4.7 Synthetic fiber 4.7.5 Import Export USD Million Import-export turnover of Synthetic fiber, 2009 2016e Market share by export value, 2015e Source: VIRAC, STK Source: VIRAC, GDVC 150

4. Major sector groups 4.7 Synthetic fiber 4.7.5 Import Export Export market structure of Synthetic fiber, 2016e Import market structure of Synthetic fiber, 2016e Source: VIRAC, UN Comtrade Source: VIRAC, UN Comtrade 151

TABLE OF CONTENTS Part VI. Outlooks and forecasts 1. Development planning for the chemical industry 2. Outlooks of world chemical industry 3. Outlooks of Vietnam chemical industry 158

6. Outlooks and forecasts 6.1 Development planning for the chemical industry According to Decision No. 1621 / QD-TTg of the Prime Minister promulgated on September 18, 2013 approving the development plan of chemical industry of Vietnam to 2020, by 2030. 102

6. Outlooks and forecasts 6.1 Development planning for the chemical industry 103

6. Outlooks and forecasts 6.1 Development planning for the chemical industry 104

6. Outlooks and forecasts 6.1 Development planning for the chemical industry MOIT issued Decision No. 8989 / QD-BCT dated 25/08/2015 approving the restructuring plan of Vietnam chemical industry, 10 areas of restructuring in the chemical industry include fertilizer, petrochemicals, plant protection chemicals, basic chemicals, chemical electricity, industrial gas, rubber, detergents, paint - printing ink. 162

6. Outlooks and forecasts 6.1 Development planning for the chemical industry Investment information No Project Location Capacity (Thousand tons/year) Investment capital(usd Million) Investment time Source: VIRAC 163

6. Outlooks and forecasts 6.1 Development planning for the chemical industry Investment information No Project Location Capacity(Thousand tons/year) Investment capital(usd Million) Investmen t time Source: VIRAC 164

TABLE OF CONTENTS Part VI. Outlooks and forecasts 1. Development planning for the chemical industry 2. Outlooks of world chemical industry 3. Outlooks of Vietnam chemical industry 169

6. Outlooks and forecasts 6.2 Outlooks of world chemical industry European chemical industry: Low oil prices help reduce difficulties Asian chemical industry: Supply exceeds demand and grows slowly 170

6. Outlooks and forecasts 6.2 Outlooks of world chemical industry Middle East Chemical Industry: Increase in competition pressure Latin American chemical industry: Recovering from economic growth 171

6. Outlooks and forecasts 6.2 Outlooks of world chemical industry Increasing competition requires dynamic response Cooperative relations with customers Frequently meet the ever-changing legal regulations 172

6. Outlooks and forecasts 6.2 Outlooks of world chemical industry Data processing is continuously updated in real time Prepare for changes in distribution channels 173

TABLE OF CONTENTS Part VI. Outlooks and forecasts 1. Development planning for the chemical industry 2. Outlooks of world chemical industry 3. Outlooks of Vietnam chemical industry 174

6. Outlooks and forecasts 6.3 Outlooks of Vietnam chemical industry For fertilizer group: For petrochemical group (synthetic rubber and raw plastic resins) For paint and printing ink group 175

6. Outlooks and forecasts 6.3 Outlooks of Vietnam chemical industry Pesticides: Basic chemicals: Synthetic fiber: 176

TABLE OF CONTENTS Part VII. Business Analysis 1. Enterprise introduction 2. Business Analysis 177

7. Business Analysis 7.1 Enterprise introduction Company name PetroVietnam Fertilizer and Chemicals Corporation (DPM) Address Net revenue 2016 (VND billion) Total assets (VND billion) Charter capital (VND billion) Country Customer segmentation Business area Binh Dien Fertilizer JSC (BFC) PetroVietnam Camau Fertilizer Joint Stock Company (DCM) Lam Thao Fertilizers and Chemicals JSC (LAS) CTCP Bột giặt và hóa chất Germany Giang (DGC) Dry Cell And Storage Battery Joint Stock Company (PAC) Vietnam Fumigation Joint Stock Company (VFG) LIX Detergent Joint Stock Company (LIX) Southern Basic Chemicals JSC (CSV) Saigon Plant Protection JSC (SPC) 178

7. Business Analysis 7.1 Enterprise introduction PetroVietnam Camau Fertilizer Joint Stock Company 179

7. Business Analysis 7.1 Enterprise introduction PetroVietnam Fertilizer and Chemicals Corporation 180

7. Business Analysis 7.1 Enterprise introduction Lam Thao Fertilizers & Chemicals Joint Stock Company 181

7. Business Analysis 7.1 Enterprise introduction Binh Dien Fertilizer Joint Stock Company 182

7. Business Analysis 7.1 Enterprise introduction Southern Basic Chemicals JSC 183

7. Business Analysis 7.1 Enterprise introduction LIX Detergent Joint Stock Company 184

7. Business Analysis 7.1 Enterprise introduction Duc Giang Detergent and Detergent Joint Stock Company 185

7. Business Analysis 7.1 Enterprise introduction Saigon Plant Protection Joint Stock Company 186

7. Business Analysis 7.1 Enterprise introduction Dry Cell And Storage Battery Joint Stock Company 187

TABLE OF CONTENTS Part VII. Business Analysis 1. Enterprise introduction 2. Business Analysis 188

7. Business Analysis 7.2 Financial analysis VND billion Gross profit margin, 2015-2016 - Source: VIRAC 189

7. Business Analysis 7.2 Financial analysis VND billion Cost of sales and cost of sales /net revenue ratio, 2015-2016 Cost of sales Source: VIRAC 190

7. Business Analysis 7.2 Financial analysis VND billion Enterprise cost management and Enterprise cost management /net revenue ratio, 2015-2016 Enterprise cost management Source: VIRAC 191

7. Business Analysis 7.2 Financial analysis VND billion After-tax profit and net profit margin, 2015-2016 VND billion Source: VIRAC Asset structure, 2015-2016 Source: VIRAC 192

7. Business Analysis 7.2 Financial analysis VND billion Capital structure, 2015-2016 Source: VIRAC Profit Ratio, 2015-2016 Source: VIRAC 193

7. Business Analysis 7.2 Financial analysis Solvency Payment ratio, 2015-2016 Source: VIRAC 194

7. Business Analysis 7.2 Financial analysis Inventory turnover, 2015-2016 Source: VIRAC Receivables turnover, 2015-2016 Source: VIRAC 195

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