VIETNAM PAPER CORPORATION

VIETNAM PAPER CORPORATION (VINAPACO), officially registered under Business ID: 2600357502, was established on August 12, 2010, by the Ha Noi Department of Planning and Investment. The corporation’s head office is located at 25A Ly Thuong Kiet Street, Phan Chu Trinh Ward, Hoan Kiem District, Ha Noi City, with large-scale production facilities in Phu Tho Province and representative branches in Ho Chi Minh City and Da Nang. With a workforce of 2,600 employees and a charter capital of USD 49.83 million, VINAPACO remains a cornerstone of Vietnam’s paper manufacturing industry.

Leadership and Governance

The company is currently managed by General Director Le C. H., supported by Deputy General Directors Ta D. L.and Nguyen T. Q.. The former Chairman, Hoang Q. L., has resigned, and Cao V. S. is temporarily in charge of the Board of Members. As a wholly state-owned enterprise, VIETNAM PAPER CORPORATION is supervised by the Ministry of Industry and Trade of Vietnam, which owns 100% of the equity. This close state affiliation ensures operational stability and alignment with Vietnam’s national industrial strategy.

Strong Asset Base but Modest Profit Growth

For the fiscal year ending December 31, 2023, VIETNAM PAPER CORPORATION reported total assets of USD 224.49 million, marking a 10.63% decrease from 2022 due to restructuring and reduced inventory levels. Owner’s equity also dropped by 7.83%, totaling USD 57.64 million. Despite these declines, the company maintained sales revenue of USD 106.87 million, which was only 8.42% lower year-on-year, while net profit remained steady at USD 528,288. The company’s working capital of USD 10.6 million reflects improved liquidity, up 256.74% from 2022 — a positive sign for operational efficiency.

From Forestry to Finished Paper: A Complete Value Chain

VIETNAM PAPER CORPORATION operates across the entire value chain, from forestry and pulp production to finished paper products. Its business activities include forestry development, logging, paperboard manufacturing, and chemical processing, supported by technology consultancy and energy generation operations. VINAPACO’s vertically integrated model enables the corporation to control raw materials while ensuring cost efficiency and environmental sustainability.

Expanding Reach Across Vietnam’s Key Industrial Zones

The company’s main factory in Phu Tho Province supplies pulp and printing paper nationwide, while branches in Ho Chi Minh City and Da Nang extend its distribution network to the southern and central regions. With its robust infrastructure, VIETNAM PAPER CORPORATION plays a crucial role in Vietnam’s efforts to localize paper production and reduce dependence on imports.

Outlook and Industry Relevance

Despite moderate profitability, VIETNAM PAPER CORPORATION (VINAPACO) remains vital in the country’s paper and pulp industry. Its long-term strategy emphasizes sustainable forestry, cleaner production technologies, and digital transformation to enhance competitiveness. As global demand for eco-friendly paper increases, VINAPACO’s integrated operations and government backing give it a strong position to capture new market opportunities in domestic and regional markets.

For deeper analysis and due diligence on VIETNAM PAPER CORPORATION or other major state-owned enterprises in Vietnam, Vanguard Business Information LLC (VBI) provides comprehensive Financial and Company Profile Reports to help clients evaluate reliability, minimize risks, and maximize opportunities in trade and investment.