Nearly 175tr dong demanded to develop plastic industry

Vietnam now has about 1,064 plastic enterprises operating with a capital size of over 500 million dong each, mainly in the south.

The number of plastic firms in HCM City and neighboring provinces like Dong Nai, Binh Duong and Long An accounts for 80%, remainder in the northern and the central regions.

Vietnam-made plastic products are for domestic market as well as for export to more than 55 nations and territories. Last year the industry earned $1 billion from export.

However, according to specialists of Institute of Industrial Policy and Strategy Research, nearly 175 trillion dong is demanded to develop plastic industry. The biggest challenge for the industry is that Vietnam has to import materials for plastic production. Annually the sector needs average 2.2 million tons of kinds of PE, PP, PS along with hundreds of types of other support chemicals.

85% of plastic materials must be imported.

Tags: Vietnam plastic industry

Posted by VBN on Mar 8 2011. Filed under Rubber & Plastic. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry