Global Chemical Industry Development Trends and Vietnam's Strategic Orientations
The global chemical industry is shifting toward developing nations, opening up opportunities for Vietnam to break through and build a modern, self-reliant chemical industry. Vietnam Becomes an Attractive Destination for the Chemical Industry In Vietnam, the chemical industry took root in the 1950s and 1960s, beginning with fertilizer and consumer chemical plants in the North. These early facilities were supported by the Soviet Union and China to meet the demand for fertilizers and essential chemicals for daily life. Since its inception, the Party and State have issued numerous guidelines and policies to promote the development of the chemical industry. Consequently, alongside the country's industrialization and modernization, Vietnam's chemical sector has achieved significant progress. Currently, there are approximately 2,000 enterprises operating in the chemical field. The annual total output of Vietnam's chemical industry accounts for about 10-11% of the industrial GDP, and its total industrial production value makes up 13-14% of the entire industrial sector. The development of the chemical industry has contributed to enhancing domestic production capacity, gradually reducing import reliance, and step-by-step integrating into global value chains. Over the past years, the chemical industry has made positive contributions to Vietnam's economic growth. Specifically, during the 2022-2025 period, the sector attracted 27 prominent projects with a total capital of nearly 100,000 billion VND, spanning technical rubber production, electrochemical power sources (batteries and accumulators), basic chemicals and petrochemicals, industrial gases, and high-quality fertilizers. In recent years, the general trend of the global chemical industry has been relocating manufacturing plants to developing nations. Many international corporations, such as AGC (Japan) and Donggang (China), have arrived to survey and invest in large-scale chemical complexes. This indicates that Vietnam is emerging as an attractive destination on the regional chemical investment map. Today, Vietnam has established several industrial parks and chemical complexes in provinces such as Ba Ria - Vung Tau, Phu Tho, Thai Nguyen, and Thanh Hoa. Many provinces and cities have also proactively incorporated specialized chemical industrial parks into their master plans, reflecting a clear shift in how the industry's role is perceived. These industrial parks are oriented toward modern development, ensuring safety, aligning with the circular economy, and effectively leveraging the advantages of seaports and logistics. Although Vietnam still runs a trade deficit in chemicals, domestic products have begun to improve in both quality and variety. This serves as a prerequisite for gradually reducing import dependency in the future. Strategic Moves to Build a Breakthrough Chemical Industry The Socio-Economic Development Strategy for 2021-2030 emphasizes the development of foundational industries—such as energy, metallurgy, mechanics, and chemicals—while simultaneously promoting a green and circular economy. Resolution No. 29-NQ/TW of the Central Committee of the Party on continuing to promote national industrialization and modernization until 2030, with a vision to 2045, also underscores the priority given to the development of basic chemicals, petrochemicals, pharmaceuticals, and fertilizers. Notably, the Chemical Industry Development Strategy until 2030, with a vision to 2040, under the Prime Minister's Decision No. 726/QĐ-TTg, represents a crucial milestone, establishing a legal framework for a modern and sustainable chemical sector. These orientations clearly demonstrate the resolve of the Party and State to build a self-reliant, green, and high-tech chemical industry. According to the Vietnam Chemicals Agency (Ministry of Industry and Trade), the Government's Chemical Industry Development Strategy until 2030, with a vision to 2040, is a pivotal step that creates a legal corridor for the modern and sustainable advancement of the sector. These directions manifest the firm determination of the Party and State to foster a self-reliant, green, and high-tech chemical industry. The Vietnam Chemicals Agency further stated that the industry currently employs approximately 2.7 million workers, equivalent to 10% of the country's total industrial workforce. Notably, labor productivity in this sector is 1.36 times higher than the industrial average, confirming the increasing expertise and quality of its human resources. From a long-term development perspective, chemicals play a pivotal role in the nation's industrialization and modernization, as they are present in almost every aspect of life—ranging from agriculture, manufacturing, processing, textiles and footwear, and construction materials, to healthcare and high technology. Many experts share the consensus that without the chemical industry, no other industry can exist. This further highlights the central role of human resources in the chemical sector in ensuring the continuous operation of numerous fields, from fertilizers, petrochemicals, basic chemicals, paints, printing inks, and industrial gases, to cosmetics and pharmaceuticals. To transform the chemical industry into a true pillar of the economy, the National Assembly enacted the revised Law on Chemicals in 2025, which took effect on January 1, 2026. For the first time, the 2025 Law on Chemicals explicitly defines key chemical industrial sectors, such as basic chemicals, petrochemicals, pharmaceuticals, high-quality fertilizers, green hydrogen and ammonia production, specialized chemical industrial parks, and large-scale chemical complexes. To ensure chemical safety and security, the Law on Chemicals also requires projects to formulate chemical accident prevention and response plans right from the investment preparation phase. Site layouts must strictly comply with safety distance planning, and feasibility study reports must fully demonstrate comprehensive safety solutions. These are mandatory regulations aimed at ensuring the sustainable development of the chemical industry and the safety of the community. Alongside these measures, the law promotes green transition, the circular economy, and digital transformation. The Law on Chemicals incorporates requirements for selecting technologies that optimize resource efficiency, minimizing the use of hazardous chemicals, reducing waste, designing production based on green chemistry principles, and applying digital transformation in corporate governance and state management. This is an inevitable trend in the global chemical industry, unlocking immense opportunities for the Vietnamese chemical sector to thrive in the new era. Source: congthuong.vn
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Jun 18, 2026
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