Business

Paint, printing ink industry to grow 6-8 percent annually

Vietnam’s paint and printing ink industry is expected to grow at 6-8 percent in 2016-20, according to the industry business association.
Paint, printing ink industry to grow 6-8 percent annually ảnh 1The press briefing introduces the Coatings Expo Vietnam, Rubber & Tyre Vietnam, and Paper Vietnam, to be held in HCM City from June 13 to 15 (Photo: VNA)

HCM City (VNA) - Vietnam’s paint and printing ink industry is expectedto grow at 6-8 percent in 2016-20, according to the industry businessassociation.

Speakingto the media in HCM City May 10 to introduce three international exhibitions --Paper Vietnam; Rubber & Tyre Vietnam; and Coatings Expo Vietnam -- NguyenThi Lac Huyen, chairwoman of the Vietnam Paint and Printing Ink Association,said the industry enjoyed 10.8 percent growth last year.

Shesaid many local firms have invested in building new factories in industrialparks, and many foreign investors have shifted their paint and printing inkproduction facilities from Japan, the Republic of Korea, Singapore, Thailandand Malaysia to Vietnam.

Accordingto Huyen, there are many positive factors to boost the development of the paintand printing ink industry, which is a supporting industry for many otherindustries.

Sheadded that the development of the construction and property sectors and anincrease in infrastructure works would increase demand for paint.

Asfor the printing ink sector, there are many consumer products and their need toimprove packaging would boost the sector.

Thepaint and printing ink industry, whose output topped 1.6 billion USD last year,is expected to grow robustly.

Theindustry is still young in Vietnam, and thus enterprises in the industry needan opportunity to promote their products, Huyen said.

The2017 Coatings Expo Vietnam provides opportunity for the firms to learn aboutthe latest trends and demand in the market and enhance co-operation with localand foreign counterparts.

Thethree exhibitions, to be held together at the Saigon Exhibition and ConventionCentre in HCM City from June 13 to 15, have attracted over 200 exhibitors from15 countries, including Vietnam, India, Japan, the Netherlands, Malaysia,China, the United States, Germany and France.

Organisedby the Minh Vi Exhibition and AdvertisementServices Co, Ltd, CNCIC China and CNCIC India, the exhibitions are expected towelcome 4,500 trade visitors. -VNA

VNA
#Paper Vietnam #Rubber & Tyre Vietnam #Coatings Expo Vietnam #Vietnam Paint and Printing Ink Association #printing ink industry
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