On August 22, Indorama Ventures team in Vietnam, represented by Country Head and Vice Chairman, Mr. Vinay Bhardwaj, participated in the prestigious Forbes Vietnam Business Forum. He joined a distinguished panel of industry leaders from Standard Chartered Vietnam, Phu Thai Group, and HCMC Securities Corp for a panel discussion titled “Get Ready for the Recovery“. This discussion explored strategies for businesses to navigate the economic landscape and position themselves for growth in the coming year.

Tackling post-M&A integration and economic headwinds

Reflecting on Indorama Ventures’ acquisition of Ngoc Nghia in 2022, Mr. Vinay provided an in-depth look at the complexities of post-M&A integration, emphasizing the importance of retaining human assets and ensuring seamless communication across teams. He also addressed the challenges posed by Vietnam’s shifting regulatory environment, complex FDI registration processes, and the hurdles related to VAT refund policies.

Strategic solutions for resilience and growth

To overcome these difficulties, Mr. Vinay outlined a series of strategic solutions that the company has implemented, including key initiatives such as:

• Operational efficiency and cost optimization: Streamlining processes, optimizing capital allocation, and investing over $15 million in modernizing equipment within two years to achieve cost savings and improve productivity.
• Digital transformation: Leveraging global and local technology solutions such as Arito-ERP and Shopworx to enhance end-to-end manufacturing supply chain management and internal operations.
• Innovation and sustainability: Leading in the use of recycled PET, developing lightweight solutions for environmentally friendly PET packaging, and adopting solar energy at the new Hung Yen factory. The company’s sustainability roadmap includes exploring alternative PET sources and achieving net zero targets by 2025.
• Employee engagement: Prioritizing employee well-being through training programs, wellness activities, and by nominating employees to participate in Indorama Ventures’ Global Future Leader program to nurture talent.

Seizing opportunities in Vietnam’s market

Furthermore, he stressed the key role of agility, innovation, and sustainability in long-term business resilience. In particular, he highlighted the need to build resilient supply chains and adapt quickly to changing market conditions, especially in emerging sectors like health beverages. Looking ahead, the company remains committed to seizing these opportunities and driving sustainable growth in Vietnam.