Truong Son Sai Gon Trading Production Company Limited (Vietnam)

The subject specializes in importing, trading paper roll, and cutting into paper size for trading in accordance with customer's demands. As our latest interview with the subject's staff, all products are imported from many countries such as Indonesia, China, Taiwan, South Korea, India, etc. Currently, the subject's products only serve for domestic clients. According to a report by VIRAC (Vietnam Industry Research And Consultancy), in the first quarter of 2023, paper consumption in Vietnam was estimated to reach 1.2 million tons, down by more than 20% compared to the same period in 2022. In particular, packaging paper is considered the main growth driver of the paper industry. However, in the first quarter of 2023, packaging paper consumption was estimated to reach about 900 thousand tons, down by more than 26% compared to the same period in 2022.It can be seen from the above data that 2023 is a difficult year for businesses in the paper and pulp industry under the impact of supply far exceeding demand and a sharp decline in consumption demand.In fact, the paper industry is currently the main industry supporting the production of most fields, so recently when the manufacturing industry declined, it also led to a decline in paper consumption. About 90% of the domestic paper industry's output is common packaging paper products serving industrial production. During the period from September 2022 until now, businesses in the paper and pulp industry have faced many difficulties due to a decline in orders.