Thai

According to SCG's report, the total value of SCG's assets in Vietnam currently accounts for 27% of the group's total assets, equivalent to about 6.53 billion USD. This figure not only affirms Vietnam's position as SCG's largest investment market outside of Thailand, far surpassing the second-ranked market, Indonesia (14%), but also reflects business efficiency.

Source: SCG Report

In terms of revenue, Vietnam also leads foreign markets with 22,417 million Baht (more than 18,600 billion VND) in the first half of 2025, accounting for 9% of the group's total revenue, second only to SCG's home market Thailand.

Chart unit is million Thai Baht. Source: SCG report

Looking at the global revenue structure, SCG's core businesses remained effective, with the Chemicals (SCGC) segment leading the way with a contribution of 2.78 billion USD . Followed by the Distribution & Retail ( 1.89 billion USD ), Packaging (SCGP) ( 1.75 billion USD ), and Cement & Green Solutions ( 1.15 billion USD ). These figures demonstrate a solid financial foundation for the group to continue to promote strategic investment activities in Vietnam.

The focus of SCG's strategy in Vietnam is the Long Son Petrochemical Complex (LSP), a large-scale project with a total investment of more than 5 billion USD .

After a temporary suspension, LSP's cracker plant officially restarted on August 20, 2025. Mr. Thammasak Sethaudom, President and CEO of SCG said: "The petrochemical industry is showing signs of recovery. The price difference of petrochemical products is also starting to improve thanks to the reduction in crude oil costs."

With a designed capacity of 1.4 million tons of olefin resins/year, Long Son is an important part of SCG's total production capacity (3.05 million tons of Ethylene/year and 1.7 million tons of Propylene/year).

The project’s competitiveness is reinforced by the 2% import tax policy on some PE products and especially the project to invest an additional 700 million USD to use Ethane gas imported from the US. According to calculations, Ethane gas costs 250 USD/ton lower than traditional Naphtha feedstock, expected to be completed in 2027.

Long Son Petrochemical Complex is a key project in SCG's strategy in Vietnam.

Cement: Great expectations from high growth market

Besides petrochemicals, SCG also identified the cement and construction materials segment as a growth driver in Vietnam. The group's report used the phrase "very high growth" to describe the potential of both cement output and value in this market.

According to SCG's report, Vietnam is considered to have great attractiveness with an expected output growth rate of 10-15% in the first 6 months of 2025. Actual data in the first half of 2025 further reinforces this assessment, with impressive growth compared to the same period: +10% in Q1 and +17% in Q2 .

To optimize profits, SCG focuses not only on output but also on high-value products such as the "Low Carbon Cement" line, which is expected to help improve EBITDA margins per ton of product by 5-10%. With a system of factories located in strategic locations in the Central and Southern regions, SCG clearly shows its intention to continue to dominate and benefit from infrastructure development in the most dynamic economic regions of the country.

SCG's long-standing presence in Vietnam is also reflected in its solid position in other business areas. Especially in the packaging industry, the group's leading position has been consolidated through a strong M&A strategy over the years. SCG, through its subsidiary SCGP, has continuously acquired big names, including typical deals such as the acquisition of Duy Tan Plastics (hard packaging), Tin Thanh - Batico Packaging (complex soft packaging), or Bien Hoa - SOVI Packaging (cartons). This strategy has helped SCG become a familiar partner of most multinational corporations and large domestic enterprises.

In the ceramic tiles and sanitary ware segment, SCG not only leads the market in terms of cost but is also making a strategic shift to higher-end product lines such as glazed porcelain tiles.