HCM City (VNA) - Vietnam’spaint and printing ink industry is expected to enjoy a growth rate of 8 percentin volume and 10 percent in value compared to last year, according to the VietnamPaint and Printing Ink Association.

Speaking at a press briefing on December 20in HCM City to introduce the upcoming Coatings Vietnam Expo, Nguyen Thi LacHuyen, the association’s chairwoman, said “The industry has seen more than anannual 10 percent growth in recent years.”

Last year, the industry produced 497million litres of paint with total production value of 1.64 billion USD.Construction paints accounted for more than half, she said.

Local firms have invested in building newfactories in industrial parks and many foreign investors from the Republic of Korea,Thailand, Malaysia and Taiwan have shifted their paint and printing inkproduction facilities to Vietnam.

The paint and printing ink industry is asupport industry for many other sectors, she said.

The country’s stable economic growth anddevelopment of the construction and property sectors as well as an increase ininfrastructure projects are expected to help the industry expand.

According to the industry’s developmentplan until 2020 with a vision to 2030, the industry will gradually replaceoutdated technologies and equipment with modern and advanced technologies, andminimise the use of harmful materials and chemicals to produce high-quality andenvironmentally friendly products at reasonable prices.

To reach the targets, firms involved in theindustry need to invest more in research and development, Huyen said, addingthat they should also focus more on building product brands so they can gain astrong foothold in the domestic market and promote exports.

The industry plans to focus on investmentin high value-added products, with a special attention to plastics, pigments,chemicals and additives.

“The 2018 Coatings Expo Vietnam will be anideal opportunity for firms to learn about the latest trends and demand in themarket and enhance cooperation with local and foreign counterparts,” she said.

Coatings Expo

The International Exhibition and Conferenceon Coatings and Printing Ink Industry (Coatings Vietnam 2018), to be held atthe Saigon Exhibition and Convention Centre from June 13-15, will feature morethan 40 exhibitors from countries and territories, including Japan, the RoK,Singapore, Hong Kong, France, China and Vietnam.

Products to be displayed will include rawmaterials and chemicals, machinery, lab and testing equipment, surface and nanotechnologies, thermal sprays and other products and services.

Nguyen Ba Vinh, director of Minh ViExhibition and Advertisement Services Co Ltd (VEAS), one of the event’sorganisers, said in addition to showcasing advanced technologies and equipment,the expo would also include seminars and B2B business matching.

Co-organised by VEAS and China NationalChemical Information Centre, Coatings Vietnam 2018 will be held concurrentlywith the Rubber & Tyre Vietnam and Paper Vietnam. - VNA