Paint, printing ink industry to grow 6-8 percent annually hinh anh 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 expected to grow at 6-8 percent in 2016-20, according to the industry business association.

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

She said many local firms have invested in building new factories in industrial parks, and many foreign investors have shifted their paint and printing ink production facilities from Japan, the Republic of Korea, Singapore, Thailand and Malaysia to Vietnam.

According to Huyen, there are many positive factors to boost the development of the paint and printing ink industry, which is a supporting industry for many other industries.

She added that the development of the construction and property sectors and an increase in infrastructure works would increase demand for paint.

As for the printing ink sector, there are many consumer products and their need to improve packaging would boost the sector.

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

The industry is still young in Vietnam, and thus enterprises in the industry need an opportunity to promote their products, Huyen said.

The 2017 Coatings Expo Vietnam provides opportunity for the firms to learn about the latest trends and demand in the market and enhance co-operation with local and foreign counterparts.

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

Organised by the Minh Vi Exhibition and Advertisement Services Co, Ltd, CNCIC China and CNCIC India, the exhibitions are expected to welcome 4,500 trade visitors. -VNA