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Investment opportunities in Chemical production PDF Print
Saturday, 05 November 2011 14:47

VIETRADE - Vietnam’s chemical industry, growing impressively, with annual growth of 12%, is one of the key economic sectors and prioritized to fulfll the needs of other industries and the total economy.

Production, of detergents and cosmetics, expands rapidly in Vietnam. Vietnamese companies such as NET, LIX, Daso, and joint-ventures as well as foreign-invested companies such as Lever Vietnam and P&G have brought to the consumer new, nicely-packaged quality products. Manufacturing of paint and rubber products also rises as a result of such frms as Dong A, Dong Nai, and Casumina.

Plan for development targets and objectives: The chemical industry is important to the development of many other industries. Via Decision 207/2005/QD-TTg the Prime Minister approved the strategy of developing the chemical industry to 2010, also with a look towards 2020.

Under this Decision, the chemical industry is showcased as one of the key industries and prioritized according to the country’s socioeconomic development strategy.

All domestic and external resources will focus on putting into place a comprehensive chemical industry, covering main domains such as fertilizer, common and special-use rubber, base chemicals (including both organic and inorganic chemicals), petro-chemistry, pure chemicals, pharmaceutical chemistry, and consumer chemicals to meet domestic demand and the requirements of regional and world economic integration.

In addition, the plan serves as a vehicle to encourage application of advanced technology to generate high quality chemical products at competitive costs and to minimize adverse impacts of chemical production on the environment. Further, the development of the chemical industry must go along with the restructuring of the industrial sector and total economy.

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