Pearl Polyurethane will be the first Southeast Asia plant in Dong Nai province, in southern Vietnam. Credit: Xita via Shutterstock.

Pearl Polyurethane Systems, a Dubai-based provider of polyurethane (PU) insulation solutions, has announced the opening of a new factory located in the An Phuoc Industrial Park in the province of Dong Nai, Vietnam.

The new Pearl Vietnam Factory will produce various PU products, including prepolymers and polyester resins.

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PU is a material that is widely used in many industries due to its high strength and adaptability to many harsh environmental and weather conditions. The material is widely utilized thanks to its high abrasion resistance which prevents it being affected by chemicals.

Martin Kruczinna, CEO of Pearl Polyurethane Systems says the firm “believe[s] in the potential of Vietnam and Southeast Asia. While some global companies in the region are reducing investment, Pearl has decided to invest in the future by targeting this dynamic region.”

He added, “Our new factory in Vietnam will help us better serve our customers by producing high-quality products in Dong Nai and providing appropriate technical expertise. This will allow Pearl Group to offer customized solutions to meet customer needs while optimizing results and profits.”

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This will be the company’s fifth production plant worldwide, just 8km from the Long Thanh International Airport and 45km from the Cai Mep-Thibai port hub in Ba Ria-Vung Tau Province.

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The company explained that the country’s friendly business environment and government policies that welcome investment have made it an ideal destination to access neighbouring markets such as Thailand, Cambodia, Indonesia, Malaysia, the Philippines and Australia. In the future, this could extend to South Korea and Japan.

Vietnam received $24.78b in FDI inflows in the first three quarters of the year, marking an uptick of 11.6% for the same period in 2023, according to the country’s Foreign Investment Agency.