TCP Group to Invest USD 120 Million in Vietnam in the Coming Years to Expand the Market
The company opened its office in Vietnam at the beginning of 2018 and plans to heavily invest in market research, product development, and distribution.

Vietnam is one of the fastest-growing economies in the ASEAN region as well as the Asia-Pacific. TCP’s sales in Vietnam have increased by 25% annually over the past three years (as of November 2018). The energy drink market in Vietnam has a total market value of USD 757 million, with a growth rate of up to 6%.

TCP’s CEO, Mr. Saravoot, mentioned that the reason for choosing Vietnam lies in the lifestyle and economic potential.

He explained: “Vietnamese people consume more energy drinks than Thais. In Vietnam, people often drink energy drinks from a glass during meals, while in Thailand, they drink directly from the can. Moreover, in Vietnam, energy drinks are not required to carry consumption warnings, unlike in Thailand where TCP faces such regulations.”

Vietnam’s economy is another important reason why TCP decided to invest. Mr. Saravoot commented: “The reality shows that Vietnam is one of the fastest-growing economies in ASEAN and the Asia-Pacific. This is reflected in our sales. Over the past three years, our sales have grown by 25% annually.”

Vietnam’s economy has a GDP of USD 223.9 billion and was estimated to grow by 6.8% in 2018. The energy drink market in Vietnam has a total market value of 25 billion baht, with a growth rate of up to 6%.

Mr. Saravoot said: “Our decision to invest in Vietnam is part of a broader vision to make our business a source of pride for Thailand on the global stage.”