Rang Ðong Plastic JSC and Sojitz Pla-Net Corporation on March 9 signed an agreement for strategic co-operation. – VNS Photo Xuan Huong

Under the agreement, the two sides will establish a task-force team to promote the distribution of Rang Dong Plastic's key products, including complex packaging, synthetic leather, PE/EVA plastic film, raincoats and plastic resins, to Japanese groups and companies in Viet Nam and the world.

In addition, Sojitz Pla-Net will provide Rang Dong Plastic with technology advice and transfer as well as management systems and measures to develop new products in line with Japanese standards.

Ho Duc Lam, chairman of Rang Dong Plastic JSC, said that, to become one of the best ancillary enterprises in Viet Nam, the company has strongly invested in the newest and most advanced technologies, in human resources and in R&D projects in order to gain better business as well as competitive advances for domestic and export markets.

Speaking at the signing ceremony, Ho Thi Kim Thoa, Deputy Minister of Industry and Trade, said the plastic industry had an annual average growth of 15-20 per cent in over the last 15 years.

One of the challenges for the domestic plastic industry is the underdevelopment of the support industry, she said, adding that the ability to produce equipment and molds for the industry remained weak.

As a result, the plastic industry has had to import 85 per cent of plastic materials for production, she added.

The agreement is expected to connecting businesses active in the support industries, which would hasten the development of the local manufacturing industry, she said.

Sojitz Pla-Net Corporation is the plastic division of Sojitz – a Japanese general trading company - and has many branches worldwide. It trades about 1 million metric tonnes of plastic materials per year. — VNS