Vietnamese companies ink PSF supply pact to boost local value chain
The agreement was signed in Hanoi on July 18. Under the agreement, VNPOLY will initially supply PSF to 1–2 selected downstream units of Vinatex for spinning, weaving and dyeing trials. Upon confirmation of consistent quality, supply will be extended to leading spinning firms such as Phú Bài, Hòa Tho, and Phú Hung, targeting premium export markets like the EU and South Korea, domestic media outlets reported.
VNPOLY general director Tran Huy Thu noted that 95 per cent of Vietnam's annual PSF demand—around 492,000 tonnes—is currently imported. With the country's annual PSF demand expected to reach 550,000 tonnes by 2025, the VNPOLY–Vinatex partnership aims to shift the balance toward domestic sourcing.
Vinatex chairman Lê Tien Truong emphasised that PSF is now critical for spinning mills due to a structural shift away from 100 per cent cotton towards synthetic blends like CVC and PE yarns. He also stressed the need for close coordination with VNPOLY to ensure PSF dye quality meets export market standards.
Petrovietnam chairman Lê Manh Hùng highlighted the agreement as a key step in reactivating the Ðình Vu PSF plant and building a self-reliant supply chain for the Vietnamese textile industry. He underlined the strategic alignment of the two state-owned giants, Petrovietnam and Vinatex, in navigating a more protectionist global trade landscape.
In a parallel development, VNPOLY and PVChem signed a long-term cooperation agreement to jointly develop and exchange products and services in recycled plastics, fibre, and petrochemical sectors. Both parties will collaborate across the entire production value chain—leveraging strengths in chemicals, PET chips, and fibre production—to boost Vietnam's localisation and sustainability goals.
The dual agreements underscore a renewed push by Vietnam to reinforce domestic resilience in its textile, fibre and petrochemical value chains, while aligning with global trends in traceability, recycling, and supply chain security.
Fibre2Fashion News Desk (HU)
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