Rang Dong Plastics Joint Stock Company (RDP) and Sojitz Pla-Net, a Japanese corporation, signed a strategic partnership on Wednesday, taking a new step towards co-operation between the two sides.

The existing co-operation between them is the development of the Rang Dong Long An Plastics factory with a total investment at US$32 million in the first stage.

Earlier, RDP sold 20 per cent of its capital at the Rang Dong Long An Plastic Joint Stock Company that operates the Rang Dong Long An plastics factory for Sojitz Pla-Net, reported tinnhanhchungkhoan.vn.

Becoming RDP’s strategic shareholder, Sojitz Pla-Net will supply raw material and have support in soft skills as well as in sales for RDP via Sojitz Planet’s retail system in Viet Nam and exports to neighbouring markets, the Sojitz Pla-Net chairman said.

RDP chairman Ho Duc Lam said when being put into operation, the project of Rang Dong Long An will meet increasing demand on plastics in the domestic market and also exports to many countries.

The factory is equipped modern machinery, including packaging workshop meeting HACCP standard, to develop global supply chain in line with standards of the US, Japan and European markets.

Lam expected with this co-operation, RDP would sustainably develop to become the leading company in Viet Nam’s plastic market and to be one of the top 10 companies supplying plastics resin in Asia by 2020. — VNS