HCMC pays heed to rubber, plastics industry development

Ho Chi Minh City People’s Committee Chairman Le Hoang Quan July 15 required industry development agencies to quickly build a project for development of the rubber and plastics industry.
 
 A plastics company in HCMC (Photo: SGGP)
He said while meeting with businesses to grasp the industry’s situation and find solutions for their difficulties in production and trade.
 
The agencies should choose a suitable land which conquers over 50 hectares to form a specialized area for the industry’s development, increase cooperation among businesses and value added of products, he added.
 
Chairman of the HCMC Rubber and Plastics Association Nguyen Quoc Anh said that the country has about 3,000 companies in the field. Seventy percent of them are located in HCMC, most are of small and medium scales.
 
In general, the industry has been able to meet domestic demand, he said.
 
Most rubber and plastics companies were profitable thanks to low material prices in the first half this year. However their revenues slightly increased by 2-5 percent due to weak purchasing power.
 
The association proposed the city authorities to help businesses access low interest loans to renovate their technologies. Most machines were imported from China at low prices but poor quality.

By Lac Phong – Translated by Hai Mien

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