Hai Phong Paint JSC: Leading the Way in Sustainable Development

9:35:18 AM | 6/28/2024

Hai Phong Paint Joint Stock Company not only stands as a prestigious manufacturer of paints but also embodies a steadfast commitment to pioneering innovation and sustainable development. Established in 1960, Hai Phong Paint has earned many awards such as the Vietnam Value Award, recognition among the 500 largest private companies in Vietnam, and designation as a producer of high-quality Vietnamese products. It has also been honored as an outstanding business in Hai Phong City and has garnered numerous international awards, marking its profound impact and enduring success in the global market.

Hai Phong Paint JSC enters into a cooperation agreement with a Japanese partner

Currently, the company's products are present in many shipyards, marine projects and key national industrial parks. In 2018, Hai Phong Paint launched two new product lines: Economy paint and galvanized steel paint, targeting industrial and civil customers. Hai Phong Paint has demonstrated its steadfastness in promoting paint manufacturing technologies and environmentally friendly paint materials. This move has helped the journey toward the Net Zero goals.

From a small enterprise, Hai Phong Paint has become a founding and core member of VLC Group with 11 member companies. The company's leaders, from generation to generation, have always directed development with the philosophy "For an intelligence-rich business". In addition, following the strategic target of "reaching abroad to exploit domestic potential" and "standing on the shoulders of giants" to move quickly and far, the company has focused on attracting talents and linking with leading corporations of paint manufacturing technology so as to take over technologies and accelerate the process of capital and knowledge accumulation.

Marine paint is a key product of Hai Phong Paint, made from the technology transferred by Japan's Chugoku Marine Paints (CMP) - one of the world's leading paint companies. Currently, Hai Phong Paint Joint Stock Company is the leading supplier of marine paints and accounts for more than 50% of the market share in Vietnam.

At the same time, from its strength in marine paints and marine constructions, Hai Phong Paint has also developed industrial paints. Its industrial paint lines are also highly appreciated and present in many key industrial projects in the country such as cement plants, thermal power plants, hydroelectric plants, wind power farms, paper mills, chemical factories, steel rolling mills and oil refiners.

Its paints are also used to ensure safety and increase the aesthetics of many important bridges in the country such as Nhat Tan Bridge (Hanoi), Dragon Bridge (Da Nang), Rao Bridge (Hai Phong), Phat Tich Bridge (Bac Ninh) and Cua Luc Bridge (Quang Ninh).

The company prioritizes talent acquisition and collaborates closely with industry-leading corporations in paint production technology to foster technology transfer

The company's roofing paint currently holds the No. 1 market share in the north. This is also a high-quality paint line made from modified polyester resin and used on rolled steel sheets (like HDGI, CR and EGO) at color-coated steel sheet factories. Products are widely used in industry, construction and civil works. Currently, Hai Phong Paint is cooperating in roofing paint with a series of leading roofing manufacturers in Vietnam such as Hoa Phat, Hoa Sen, Viet Phap and Viet My. This promises to ensure market share as well as sustainable profitability for the company.

Besides, Hai Phong Paint's electrostatic coating line currently has the largest market share in the north. The product has been used by many manufacturers of household appliances such as washing machines and vacuum cleaners or applied in many producers of artistic and decorative iron.

In addition, Hai Phong Paint is a leading supplier of industrial floor paints used on concrete for decoration, floor surface protection, waterproof, increased bearing capacity and corrosion resistance. The products are used to coat the floors of industrial factories, food processing plants, offices, schools, garages and supermarkets. Currently, Hai Phong Paint Joint Stock Company has provided products to Petrolimex 3, VINASHIN - Da Nang Ship Electrical Cable Factory, factory floors of seven member companies of VLC Group, and other units.

In the following years, Hai Phong Paint will continue to optimize features to enter international markets to earn higher profitability for the company and enhance the position of the Vietnamese paint industry as well.

To actively source raw materials for the Vietnamese paint industry and for its development needs, Hai Phong Paint has invested in research and production of synthetic resins, including alkyd resins, acrylic resins and polyester resins, which are the main ingredients of the paint industry. This is a great competitive advantage of Hai Phong Paint.

The right direction has enabled Hai Phong Paint to achieve steady development, even in a slowing economy. The company's annual growth is always double-digited. Even during the COVID-19 pandemic outbreak, the company still grew nearly 10% a year.

In the 2021-2022 period, Hai Phong Paint aimed to make clean products with high technological content account for 70% of total products and the rate will be 85% in 2025. The company is striving to become "a center for scientific, technical and paint technology research of Vietnam, the region and the world". Currently, Hai Phong Paint is a science and technology company.

Moreover, in order to speed up digital transformation, the company has scaled up the application of ERP business management software in all stages. Each batch of products will have a unique QR code so it cannot be copied or counterfeited. When scanning the QR code, customers will retrieve product origin information: Product name, batch number, production date, expiry date and information about the company. Hai Phong Paint is currently the first paint company and the only one in the country to apply QR codes on products to control and improve product quality, trace the origin, and prevent fake and counterfeit goods. This is an important requirement in sustainable development and international integration.

Over its 65-year history of growth and innovation, Hai Phong Paint has consistently dedicated itself to crafting superior paint products, built upon a solid foundation of values encompassing expertise, technology, sustainability, human capital and historical-cultural significance.

In the coming time, Hai Phong Paint will start investing in a new factory each year and have at least five more factories by 2030. Currently, the company is building three factories in Nam Dinh Vu Industrial Park (10ha) and a factory in Binh Duong province.

Not only does it have a nationwide distribution network with hundreds of agents, Hai Phong Paint also has developed a base of export customers in many countries around the world. Particularly, its products have conquered developed markets with strict requirements for paint products and materials such as South Korea and Japan.

In recent years, Hai Phong Paint has made efforts to achieve sustainable development towards Net Zero. Accordingly, every year, the company invests tens of billions of VND in technological innovation to bring environmentally friendly premium paint products to the market.

Hai Phong Paint is committed to continuing its contributions to the economic development of the country and the paint industry toward sustainability and environmental protection and its contributions to achieving Vietnam's Net Zero goal in 2050.

By Ngo San, Vietnam Business Forum