HCM CITY —  More than 420 exhibitors are showcasing advanced technologies, machinery and equipment in the plastics and rubber industry at an international exhibition that opened on Wednesday at the Saigon Exhibition and Convention Centre in District 7.

The exhibitors are from 20 countries and territories, including Việt Nam, Germany, South Korea, the US, India and Singapore.

At the 17^th Vietnam International Plastics & Rubber Industry Exhibition (VietnamPlas 2017), they are displaying products and services, including blow moulding, cap and closure, testing and recycling machines and extruders.

Raw materials and chemicals for plastic production are also being showcased at exhibition stands.

The exhibition is expected to offer many business opportunities as Việt Nam imports a high volume of plastic materials.

The country imported 2.81 million tonnes of plastic materials in the first seven months of the year, an increase of 15.2 per cent compared to the same period last year, according to the Việt Nam Plastics Association.

The exhibition, which ends on September 16, was organised by the Việt Nam National Trade Fair & Advertising Company under the Ministry of Industry and Trade in co-operation with the Yorkers Exhibition Service Co. and government agencies as well as associations.

According to a report from the Việt Nam Plastics Association, the index of industrial production for rubber and plastic products in the first seven months of the year increased by 10 per cent compared to the same period last year.

The country’s export turnover of plastic products in the first seven months was nearly US$1.4 billion, an increase of 12.3 per cent against the same period last year.

Lê Hồng Khanh, a representative for HCM City Rubber Plastic Manufacturers Association, told Việt Nam News that one million tonnes of natural rubber are produced in the country every year.

Of that amount, 250,000-300,000 tonnes are used for domestic production, Khanh said, adding that the rest are exported to other countries in the world.

Domestic companies in the rubber industry have increased their production, and more foreign investors are looking for business opportunities in the country, he added.—VNS