Thai beverage group sees Vietnam as long-term growth partner

Saravoot Yoovidhya, CEO of TCP Group

The official visit to Vietnam by the Thai prime minister, together with the Thailand-Vietnam Investment and Business Forum 2026 last month, has opened up new expectations for the business communities of both countries.

For TCP Group, which is marking its 70-year milestone, this is also an important moment to reaffirm its long-term commitment to Vietnam and its role in strengthening bilateral economic cooperation.

How have Vietnam-Thailand relations evolved over the past 50 years, and what is the outlook for future cooperation?

Over the past five decades, Vietnam and Thailand have built a partnership that extends beyond diplomatic relations into broader economic and people-to-people cooperation. Today, that foundation is becoming even more important as both countries look for new ways to strengthen economic cooperation and advance more green growth.

The momentum behind this partnership is reflected in strong economic ties. Thailand is currently Vietnam’s largest trading partner in ASEAN and the eighth-largest foreign investor in Vietnam, with total registered capital of around $15.4 billion. The shared ambition to raise bilateral trade to $25 billion reflects the scale of existing cooperation as well as the significant potential that remains to be unlocked.

The “Three Connects” Strategy, connecting supply chains, local economies, and sustainable growth, provides a practical direction for the next phase of cooperation. I believe businesses from both countries have an important role to play in turning these national-level priorities into concrete outcomes through investment, partnerships, innovation, and long-term value creation for local communities.

Could you share the importance of the Vietnamese market for TCP’s business expansion and investment strategy?

Vietnam is a strategic market and a long-term growth partner for TCP. We have been present in Vietnam for more than three decades, and this journey has given us a deep understanding of the market, consumer needs and evolving lifestyles, and the importance of working closely with local partners.

Vietnam has a large, young, and dynamic consumer base. Consumers are increasingly attentive to product quality, brand experience, and the values that companies stand for. For an F&B brand to grow sustainably in Vietnam, it needs to do more than expand distribution. It must listen to the market, stay relevant to evolving lifestyles, and build trust through consistent quality and responsible business practices.

In Vietnam, TCP currently develops our portfolio through two key brands, Red Bull and Warrior, with seven product lines, reaching more than 100,000 points of sale across both traditional and modern trade channels. This scale reflects not only market reach, but also the strength of local partnerships, operational capability, and long-term brand building.

At the group level, TCP has built a strong regional and international platform. We currently operate seven factories in Asia and employ more than 5,200 people across Thailand and international markets. TCP products are exported to 22 markets, while Red Bull is marketed and distributed in more than 170 countries worldwide. These regional capabilities enable TCP to bring global expertise and operational experience into markets such as Vietnam, while continuing to adapt to local consumer needs.

What are TCP’s initiatives to implement its purpose of “Energising a Better World for All” in Vietnam?

Our corporate purpose, “Energising a Better World for All,” guides how we conduct our business globally, reflecting our belief in driving sustainable growth alongside positive impact. Centred around this corporate purpose, TCP aligns its strategies across three core pillars: Fulfilling, Growing, and Caring.

Fulfilling means continuing to improve our product portfolio to meet evolving consumer needs while maintaining global quality standards. Across the group, we have also been developing products that respond to new lifestyles, including consumers’ growing interest in wellbeing, and lower-sugar options.

Growing means building value for our brands and creating value for our partners throughout the supply chain. TCP has pursued investment to expand production capacity, improve operational efficiency, and accelerate digital transformation through data management, smart manufacturing, and multichannel systems. In Vietnam, this direction is reflected in our commitment to market development, local partnerships, and strengthening our presence over the long term.

Caring focuses on creating positive social and environmental impact through four sustainability priorities: product excellence, low carbon economy, circular economy, and water sustainability. While aiming for net-zero operations, TCP concrete actions are tailored to local contexts. In Vietnam, we strictly adhere to extended producer responsibility regulations through financial contributions to the Vietnam Environment Protection Fund, reinforcing our commitment to a circular economy.

Furthermore, starting in 2026, TCP has partnered with VNUS and VSDS to launch the "Community Awareness and Action Project on Water Conservation." This initiative drives impactful change by raising water protection awareness among students and communities, boosting practical local safeguards, and establishing "Safe Clean Water Points" for schools and residents.

As one of Thailand’s leading F&B groups, how does TCP contribute to deepening Vietnam-Thailand cooperation?

I believe businesses can serve as a vital bridge between the two economies. For TCP, this role is not limited to products or market expansion. It is about connecting resources, business experience, local partners, consumer insights, and long-term development initiatives.

TCP’s participation in the Thai business delegation accompanying the Thai Prime Minister’s official visit to Vietnam reflects this spirit. We were honoured to represent the F&B sector and share our experience of investing and building brands in Vietnam. This was an opportunity to show how companies can support the broader economic agenda between the two countries.

With more than three decades of operations in Vietnam, we understand that long-term growth depends on strong local relationships, market understanding, and the ability to create value together. We see Vietnam as a market and a partner in the next chapter of regional growth.

On the occasion of the 70^th anniversary, what is TCP’s commitment to advancing community and social impact?

For TCP, 70 years represent more than business growth. They represent a long-term journey of creating value with consumers, partners and communities. Guided by our corporate purpose, we aim to go beyond products by helping unlock human potential, supporting communities, and contributing to more sustainable progress in the countries where we operate.

This milestone is particularly meaningful as Vietnam and Thailand move towards the 50th anniversary of diplomatic relations. It comes at a time when businesses from both countries have significant opportunities to build on their complementary strengths, deepen cooperation, and expand connections across the region and beyond.

We believe companies like TCP can help advance Vietnam-Thailand cooperation by connecting resources, market experience, local partners, and long-term development efforts, creating value for businesses but also for communities and future generations.

TCP Group reaffirms commitment to Thailand-Vietnam economic cooperation TCP Group has reaffirmed its commitment to strengthening Thailand-Vietnam economic cooperation through sustainable investment and community development initiatives.

TCP Vietnam collaborates with VNUS to promote water resource protection TCP Vietnam has announced it is carrying out a series of initiatives to raise awareness of water resource protection under a three-year project.

TCP extends youth development partnership with CVYF for 2026-2028 TCP Pharmaceutical Industries and the Vietnam Youth Federation have signed an MoU for the 2026–2028 period to support community activities for Vietnamese youth.