9:28:13 AM | 5/8/2025
On January 25, 1960, Hai Phong Paint Joint Stock Company was officially established, marking the beginning of a long and challenging journey that is filled with proud achievements. After 65 years of steady growth, the company has firmly established its leading position in Vietnam’s paint and building materials industries. Consistently maintaining this momentum, the firm has not only fulfilled its business targets but also made meaningful contributions to the country’s economic development.
Hai Phong Paint JSC has contributed to the development of Vietnam’s national port and logistics strategy
Robust growth
General Director Nguyen Van Dung said: “We are proud of what we have accomplished over the past 65 years. Despite facing numerous challenges, especially during and after the COVID-19 pandemic, Hai Phong Paint has sustained stable growth and continued to meet its obligations to the State Budget. This success results from relentless effort by all the staff and is a source of pride, not only for the company itself but also for the broader community and the nation.”
Since 2020, although it has faced numerous difficulties and challenges, Hai Phong Paint has continued to assert its market position and consistently achieved double-digit growth, even during the rough years impacted by the COVID-19 pandemic.
The company has invested a lot in research and development, launching innovative product lines that support its long-term sustainable growth. In 2023, Hai Phong Paint introduced its container coating line to the market. The product, now holding an impressive 95% market share in Vietnam, is widely used on shipping containers by major domestic and international partners such as Hapag Lloyd, Seacube, Quest, Vietsun and VIMC. In addition, the company’s roofing sheet coatings and powder coatings are currently leading the market in northern Vietnam.
In 2023, Hai Phong Paint became the first paint company in Vietnam to implement QR codes on its products to enhance quality control, enable traceability and combat counterfeit goods.
The company has also sustained impressive revenue growth. Its revenue reached VND800 billion in 2020 and climbed to VND1,000 billion in 2021, VND1,200 billion in 2022, VND1,350 billion in 2023 and VND1,350 billion in 2024. Average employee income reached US$1,000 per month in 2024.
Hai Phong Paint has received numerous prestigious awards, including the Vietnam Value, a recognition of the national brand, in 2022 and 2024, further affirming the superior quality of its products.
Hai Phong Paint has actively researched and developed a specialized container paint line, designed to meet strict standards for quality, durability, and corrosion resistance
Vision and sustainable development plan
Looking ahead, Hai Phong Paint remains committed to creating lasting value, not only for its customers but also for the community and the environment. The company is pursuing plans to expand its production capacity and distribution network across the country.
Hai Phong Paint aims to invest in building at least five new factories, including one currently under construction in Nam Dinh Vu Industrial Park and another in Binh Duong province. At the same time, the company is expanding its distribution network, with a target of reaching approximately 3,000 retail outlets nationwide. Moreover, Hai Phong Paint is also dedicated to advancing the coatings industry and promoting environmental sustainability. The company has also aligned its development strategy with Vietnam’s Net Zero 2050 sustainability commitments.
General Director Dung added: “We will continue investing in new know-how, expanding the production scale and improving operational processes, not only to enhance product quality but also to minimize negative impacts on the environment. This is Hai Phong Paint’s commitment to both the community and the nation.”
With its strong momentum and impressive achievements, Hai Phong Paint Joint Stock Company has firmly established its leading position in the paint manufacturing industry while contributing significantly to Vietnam’s economic development. Under the leadership of General Director Dung, the company is well-positioned to move toward an even more sustainable and successful future.
|
In addition to their standout features, the rapid growth of the container paint line and the CUS-UB10 technology of Hai Phong Paint Joint Stock Company has been driven by national strategies and broader industrial trends, particularly as Vietnam is expanding its global presence and accelerating the development of high-speed rail. Container paint - Supporting Vietnam’s national port and logistics strategy Vietnam is undergoing a transformation to become a major logistics hub in Southeast Asia. The government has prioritized the development of seaport infrastructure and logistics networks to drive economic growth and strengthen regional and global connectivity. "CUS-UB10" paint technology – Anticipating the rise of high-speed rail Alongside the logistics sector, Vietnam’s transportation industry is entering a new phase of rapid development, with a strong focus on building a modern high-speed rail network. Hai Phong Paint has partnered with Chugoku Marine Paints (CMP), one of the world’s leading marine paint and coating manufacturers, to research and develop this cutting-edge technology. This partnership has not only enabled the company to supply products of exceptional quality but also proved its strong commitment to catching industry trends, serving the growing market demand and meeting the high demand of international railway projects. |
By Ngo San (Vietnam Business Forum)
Vietnamese
