Here are our plans to become even more competitive in Vietnam

Despite having slowed down due to the effects of Covid-19, Vietnam’s economy has not ground to a halt. Were national and international measures taken to prevent the kind of downturn that happened in other parts of the world?

The pandemic has certainly had a negative effect on foreign investment in Vietnam, which had previously been at record-breaking levels. Foreign investment in projects in Vietnam were worth 13.76 billion US dollars in September 2020, i.e. 96.8% of the corresponding figure for the same period the previous year. As regards newly registered capital, adjusted capital, and capital contribution, Vietnam attracted a total of 21.20 billion US dollars up to September 2020, 81.1% of the corresponding figure for the same period last year. Having said that, it is worth acknowledging the great efforts and effectiveness of the fast and stringent measures adopted by the Vietnamese government to contain the Covid-19 pandemic. Following a drop in exports, the government implemented a series of incentives to meet the needs of both small and medium-size businesses that play a key role in the country’s overall economy. We are confident that the last part of 2020 will be positive and followed by years of economic growth once again. The country can also boast some notable achievements, such as the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), the EU-Vietnam Investment Protection Agreement and, on 15^th November this year, the ratification of the Regional Comprehensive Economic Partnership (RCEP), an agreement between 15 countries in the Asia-Pacific region (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, Australia, China, Japan, New Zealand and South Korea).

Which sectors offer Mapei the best growth opportunities on this market?

Those sectors offering the best growth prospects are definitely connected with housing and business projects carried out by local and foreign investors; those connected with the use of wind and hydroelectric energy aimed at meeting the nation’s current and future needs; the modernisation of existing airports and seaports and the construction of new infrastructure facilities; cement production; and investment by Chinese, South Korean and Japanese companies which are moving their manufacturing operations to Vietnam.

Which lines of products will Mapei be focusing on in Vietnam?

Definitely admixtures for concrete and cement additives, as well as building products and materials for installing ceramic tiles and stone material.

Training is one of Mapei’s trump cards: what do you do to attract better resources? Can you find suitably trained technicians and experts on the domestic market?

To attract better human resources, we focus on the experience candidates already have and the results they have achieved in the past, as well as their potential for improving Mapei Vietnam in terms of knowledge of products and professional contacts. It is not easy to find suitably trained technicians and experts, but the reputation of the Mapei brand has helped in this respect. Part of our strategy is also the “Support and Train” principle, which is aimed at guaranteeing a professional approach and proper system for getting the most from our staff. For us it is important that our employees and business partners share Mapei Vietnam’s vision, the Group’s values, and the aim to take every available opportunity for growth.

Are there plans to boost Mapei’s manufacturing operations in Vietnam even further?

Yes, it is possible that a new manufacturing plant will be built in the south of the country in the medium term (2-3 years). This would allow us to reduce the costs of logistical operations and speed up product delivery times. This would make us even more competitive on the market, and we would also be able to improve our customer services. Generally speaking, we aim to take giant leaps forward in our growth process and, bearing in mind that certain segments of the market have not been “attacked” yet and considering the scope of our range of products and the support we receive from various realms of the industry, I am certain we will succeed.