Rạng Đông Plastic JSC and Sojitz Pla-Net Corporation signed an agreement yesterday on strategic co-operation. – VNS Photo Xuân Hương

HCM CITY (VNS) — Việt Nam’s major plastic manufacturer, Rạng Đông Plastic Joint Stock Company, and Japan’s Sojitz Pla-Net Corporation yesterday signed a strategic business agreement to provide new distribution solutions for ancillary industries in the plastic sector.

Under the agreement, the two sides will establish a task force to promote the distribution of Rạng Đông Plastic’s products, including complex packaging, synthetic leather, PE/EVA plastic film, raincoats and plastic resins, to Japanese groups and companies in Việt Nam and around the world.

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

Hồ Đức Lam, chairman of Rạng Đông Plastic JSC, said that to become one of the best ancillary enterprises in Việt Nam, the company has strongly invested in the newest and most advanced technologies, human resources and R&D projects in order to better its business and become a strong competitor in domestic and international markets.

Speaking at the signing ceremony, Hồ Thị Kim Thoa, deputy minister of Industry and Trade, said the plastic industry had an annual average growth of 15 to 20 per cent over the last 15 years.

One of the challenges for the domestic plastic industry is the underdevelopment of suppliers, 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 connect businesses active in the supplier industry, which would hasten the development of the 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 a million metric tonnes of plastic materials per year. – VNS