HCMC – Apart from having officially entered the local diaper market, Hayat, a Turkish firm active in the fast-moving consumer goods industry, has targeted to turn Vietnam into its baby diaper manufacturing center in Southeast Asia.
The firm on October 19 introduced its baby diaper brand called Molfix, aimed at accounting for some 30% of the market share in 2025.
Cetin Murat, general director of Hayat Vietnam, said the firm had conducted deep research into the Vietnamese market since 2018, assessing Vietnam as one of the potential markets for baby diaper production in the region.
The representative of the Turkish firm also forecast the local market would record double-digit growth in the 2021-2027 period.
In late 2020, Hayat announced its investment of some US$250 million in Binh Phuoc Province to develop a factory.
The first phase of the plant at the Becamex-Binh Phuoc industrial zone, which cost an estimated US$100 million, has been put into operation. The firm will quickly expand the plant using the remainder of its pledged capital.
The Hayat factory in Vietnam is expected to provide its products to several potential markets in the region, including Cambodia, the Philippines, Laos and Indonesia. Hayat Vietnam targets to export products worth US$50 million to these markets each year.
Besides, Hayat is planning to develop a tissue plant with a capacity of 60,000 tons per year and another factory to produce detergent and home cleaning products with an annual capacity of 250,000 tons.
Hayat operates 21 factories in eight countries, including Vietnam. The firm is a member of Hayat Holdings, a multinational group founded in 1937.