VIETNAM BUSINESS NEWS HEADLINES OCTOBER 16

Plastics industry confident of achieving 3.2 billion USD export target The local plastic industry, with solid growth in shipments, will surely meet its yearly export target of 3.2 billion USD, according to the Vietnam Plastics Association. According to Ho Duc Lam, its chairman, said exports saw impressive growth last year to 3 billion USD while overall revenues jumped to 12 billion USD. “Exports in the first nine months of the year increased by 5 percent and will continue to enjoy good growth in the rest months of the year. “The US-China trade war has offered opportunities to Vietnamese plastics firms to boost exports.” According to the association, exports go to more than 150 countries and territories, with the US and Japan being key markets. In the domestic market, some industries, even those such as aerospace which use high-grade materials, are shifting to plastic products, and as a result sales have grown rapidly, Lam said. Locally-made plastic products are confidently taking on imports from Thailand, Malaysia and China, he said. The industry has stepped up investment in technology and facilities and cooperation with foreign partners to make more products meeting local and export demand, he said. “Many countries have put up… Read full this story

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