The visit of leaders of Nebraska state, US to An Phat Bioplastics, a subsidiary of An Phat Holdings, will open trading and investment opportunities between the two parties.
|The Governor of Nebraska (left) and Pham Anh Duong, chairman of An Phat Holdings |
On September 7, Governor Pete Ricketts lead a trade mission by Nebraska state to visit An Phat Bioplastics – the largest nylon manufacturer in Southeast Asia – and had a working meeting with the leaders of An Phat group.
Pham Anh Duong, chairman of An Phat Holdings, recounted the 17-year development journey of An Phat Bioplastics which made it the leading exporter of thin packaging in Southeast Asia. In recent years, the company has been focusing on manufacturing biodegradable products under the AnEco brand, including bags, knives, forks, and fishing nets. In 2018, An Phat Bioplastics acquired VND8 trillion ($347.83 million) revenueand the figure is expected to increase to VND10 trillion ($434.78 million) this year.
The visit is expected to create co-operation opportunities for the two parties as Nebraska has strong agriculture with the main product being corn. Meanwhile, An Phat Bioplastics manufactures products from cornstarch and it also plans to build a cornstarch processing plant to supply materials for its biodegradable products. Besides, An Phat Bioplastics could produce environmentally friendly agricultural films for farms in Nebraska.
|The Nebraska delegation visiting An Phat Holdings' production facility |
“Thanks to the visit of the delegation from Nebraska, the company has a deeper understanding about the policy and the market of central and western US, which will be the basis for building our future trading and investment promotion plans. The US is also one of the company’s target markets, and we hope that in the future An Phat Bioplastics’ products will be a familiar sight to residents in Nebraska. Nebraska’s development depends on agriculture, while the company has the advantage of its products having a plant-based origin, which provides ample grounds for potential co-operation,” said Pham Anh Duong.
Pete Ricketts said, “Nebraska state ranks third in the US in growing corn and is conveniently located for transporting materials to other states and regions in the US. If An Phat Bioplastics plans to build a plant in the US, Nebraska will be the best choice.”
|Governor Ricketts taking a closer look at An Phat Holdings' products |
The delegation visited the manufacturing lines of An Phat Bioplastics and An Trung Industries. Leaders of Nebraska lauded the operation model of An Phat Holdings and its member companies.
The US has been a key export market for An Phat Bioplastics in recent years, accounting for 20 per cent of the company's export turnover. Especially, the company’s environmentally friendly products have massive potential as they are eligible to higher tax incentives than products from other countries.
An Phat Bioplastics plans to build a plant specialising in biodegradable and environmentally friendly products with approximately 300 manufacturing lines.