Plastic businesses are planning to invest in production lines and improving product quality as the industry is forecast to face many challenges when the ASEAN Economic Community (AEC) is formed.

A plastic business in Ho Chi Minh city. Photo: doanhnhansaigon.vn

Director of the Tien Phong Plastic Company Nguyen Viet Cuong said that seeking quality material resources is now the biggest difficulty facing local plastic producers, adding they had to spend a huge sum importing materials from foreign countries.

In order to compete with products from ASEAN and other countries, domestic enterprises should invest in upgrading production lines, diversifying designs, improving governance capacity and expanding distribution channels, he suggested.

However, Cuong warned that foreign companies, including those from Thailand, may take over major local businesses, forcing small and medium ones to work for them.

Source: VNA