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| An employee checks a production line at Tien Phong Plastic JSC in Hai Phong City. — VNA/VNS Photo Huy Hung |
HA NOI (Biz Hub) — Viet Nam's plastics exports were expected to increase between 13.5 and 16.5 per cent this year, thanks to efforts by domestic producers to improve product quality.
Over the past three months, plastics exports had experienced a year-on-year rise of 19 per cent to approximately US$485 million, the Viet Nam Plastic Association said.
It noted that Japan remained the country's largest importer of plastic products, importing goods worth over $121 million and accounting for 25 per cent of Viet Nam's total plastic exports. It was followed by the US which made up $58 million, or 12 per cent, of the total export turnover.
During the reviewed period, exports of Viet Nam's plastics products to such markets such as Germany, Netherlands and UK also saw encouraging values at $27 million, $25.4 million and $25.2 million, respectively.
Domestic plastic producers were facing tough competition from other countries in the region, especially when Viet Nam was deeply integrating into the global economy, the Association Chairman Ho Duc Lam said.
Lam encouraged firms to continue investing in technology innovation, improving product quality and designs as well as regularly updating with global market trends.
They would then be better equipped to meet the demands of customers, he added.
Moreover, businesses needed to focus on environment-friendly and safe products for sustainable growth in exports, he said, calling for closer links between the firms in exploiting and conquering export outlets.
According to the association's statistics, in 2013, the export turnover from plastic products was above $1.8 billion, surging 13.3 per cent against a year ago.
Last year, up to 20 plastic products were shipped to foreign markets, and six of these products generated a turnover of more than $100 million each.
In particular, the exports of plastic bags, films and garbage bags generated a turnover of over $150 million last year. Plastic bag exports posted an increase of 27 per cent in 2013 over the previous year, while the growth in exports of plastic decorative products was 26.4 per cent. — VNS