Economic Status in Hanoi

Hanoi’s population would reach 3.2 – 3.3 million people by the year 2010, per capital GDP is hoping to have an increase of 2.4 times in comparison to that in 2000. GDP growth rate is 9.8% yearly. There are 1.5 millions working-age people. Hanoi is the city which has the highest qualified labor force with skillful occupation. Trained labor force is accounted for 34 percent. Over the past 5 years, the region’s GDP growth has been increased by 15% per year in extended industry. There is also an increase of 22.16% per year in foreign capital investment area, driven mainly by industrial expansion, consumer spending and fixed investment.

Vietnam Plastics & Rubber Industry

Similar to the industrial transformation in 1980s in China, privatizations are taking place in most public sectors. Many infrastructure projects happen at the same time. Great import on machineries such as petroleum, cement, steel, chemicals, motorbike, hardware products to Vietnam was recorded every year. Huge demand is needed for plastics, printing, transportation, railway, miong machineries. The Vietnam plastic industry can only meet demand in domestic use, and require more investment. Most packaging & printing companies are based in Hanoi and Ho Chi Minh City. Funds are poured in to meeting the increasing demand and strengthen the competitiveness in the packaging & printing businesses.