Vietnam spends $5 million daily on chemical importsVietNamNet Bridge - If Vietnam continues importing chemicals from China, it will have to rely on Chinese imports and accept low-quality products, experts have warned. If Vietnam continues importing chemicals from China, it will have to rely on Chinese imports and accept low-quality productsA GDC report showed that in 2016 alone, Vietnam imported $1.8 billion worth of chemicals, including $1.02 billion worth of products to make other compounds. This means that Vietnam spent VND112 billion daily to import chemicals.The imports were mostly from China, while imports from countries with developed chemical industries such as India, the US, Canada, Israel, Japan and South Korea were modest.According to Ngo Tri Long, there are three reasons for Vietnam to import chemicals from China. First, Vietnam has high demand for chemicals, but it still cannot produce chemicals domestically. Second, Vietnamese enterprises prefer importing chemicals from China to other countries because Chinese products are cheaper.

Source: VietNamNet News February 11, 2017 07:18 UTC