11/07/2011

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VIETNAM: Plastics industry urged to go local

The industry imports 70-85 per cent of resins and additives, and imports have increased an average of 15-20 per cent per year over the past 10 years, according to the association.
However, this goal, part of the development plan for the plastics industry through 2020, may not coincide with the targets of enterprises in the industry.
An Phat Plastics and Green Environment Joint Stock Co in the northern province of Hai Duong has had high growth in exports and planned to build one or more manufacturing facilities to produce products for export. Yet the company had to stop using locally-sourced recycled plastics as raw materials since the recycled material proved of unstable quality for production, said a representative of the company.
Tien Phong Plastics Joint Stock Co had invested millions of US dollars to produce plastics pipe with a diametre of 1,000mm to serve major construction projects in Viet Nam, but would pay more attention in the future to finding new markets and new sources of raw materials, the company said.
The naton's plastics industry exports products to 55 foreign markets, with last year's exports valued at US$1 billion, an increase of 20 per cent over the previous year. Packaging products accounted for half of the export revenue, followed by household items (15 per cent) and plastic parts (10 per cent). The industry expectes to reach a total output of 4.1 million tonnes of plastics products this year.
According to the ministry, the plan for the industry aims to raise its industrial production value to VND78.5 trillion ($3.81 billion) by 2015 and VND181.57 trillion ($8.81 billion) by 2020. It targets an annual export growth rate of 15 per cent to reach $2.15 billion by 2015 and $4.3 billion by 2020.Source: Daily "Vietnam News", Hanoi; 5 Nov 2011(Syed Rashid Ali, Karachi, Pakistan)

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