Vietnam has to import 80 percent of materials in plastics and rubber industry, reported the Vietnam Plastics Association and Ho Chi Minh City Department of Industry and Trade at a seminar on Thursday.
Most businesses operating in this field are of medium and small scale with inconsiderable export value accounting for only 1.2-1.5 percent of the total export turnover.
Ho Chi Minh City has about 2,000 businesses in the plastics and rubber industry occupying two thirds nationwide. They concentrate in Cho Lon area including Districts 5, 6 and 11 under the form of home based businesses, making household items and industrial plastics.
Most of the industry’s businesses use secondhand equipment and outdated technologies. They have faced with capital shortage and difficulties in credit access to renovate technologies and improve product quality amidst high cost prices.