Over 20% of plastic companies had to shut down because of high interest rates, so the issue “how to help the firms overcome current difficulties” was concerned in the recent conference held in HCM City by Vietnam Plastic Association. Ho Duc Lam, Vice Chairman cum General Secretary of VPA said 20% or more than 2,000 [...]
Despite high export growth in recent years, the plastics industry faces a number of difficulties including the need to import 80-85 per cent of raw materials and additives for production. High interest rates on loans, technical barriers set by import countries, and a labour shortage are also slowing down export growth. Speaking at a conference [...]
Viet Nam’s plastics industry will need VND175.53 trillion (US$8.52 billion) for its development until 2020 under a plan approved by the Ministry of Industry and Trade. The plan aims to raise the sector’s industrial production value to VND78.5 trillion ($3.81 billion) by 2015 and VND181.57 trillion ($8.81 billion) by 2020. Its planned plastics will make [...]
About US$10 billion of investment capital, nearly US$8 billion worth of the output, an average growth rate of 25% over the past 20 years, a large number of orders, expanding markets and high consumption demand are factors that bring a bright future for Vietnam’s plastics industry. However, bottlenecks that hinder its development are still a [...]
Vietnamese exporters need to diversify their designs of plastic products and increase investment in market research to further penetrate the Japanese market, an expert has said. “Profit comes from not only production and processing but also from innovation and creativity that can meet market demand,” said Fumio Koyama, senior advisor at Japan International Cooperation Agency. [...]
Plastic producers and investors have been urged to join a plastic industry cluster in the Dung Quat Economic Zone. The Dung Quat Economic Zone Authority said the planned cluster would have advantages of material supply and convenient transport. Authority management board deputy director Le Van Dung said the linchpin of the zone was the Dung [...]
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