Tien Phong Plastic Joint Stock Company, a leading plastics producer in Vietnam, signed a contract with Sekisui Chemical Co. Ltd. from Japan in the northern city of Hai Phong on July 22 in a bid to promote investment and expand its markets and operations in regional countries.

Under the contract, Tien Phong and Sekisui Chemical will cooperate in selling the latter’s several products to Japan ’s ODA-funded projects in Vietnam among others.

The Japanese company will transfer necessary equipment and give technical assistance to Tien Phong to produce these products. It will also share information relating to patents, technology and trademarks with the Vietnamese side.

If sales total 300 million JPY (3 million USD), the two sides will consider the establishment of a joint venture to produce these plastic products in Vietnam.

With three factories in Hai Phong, the southern province of Binh Duong and Laos’ Vientiane, Tien Phong produces 75,000 tonnes of products per year. Recently, the company received the 2012 Global Performance Excellence Award from the Asia-Pacific Quality Organisation.-VNA