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Investment
Aug 14, 2017 / 12:26

Start ups from recycled plastic

Tran Thao - Ngoc Thuy

“Production along with environmental protection will ensure the sustainable development of enterprise. Pursuing a healthy life is the real objective for employees and businesses”. Chairman of the board and General Director of Minh Phu International investment in trade and commerce Nguyen Thi Huong shared her thoughts.

Recycled plastic production at Minh Phu International investment in trade and commerce.
Recycled plastic production at Minh Phu International investment in trade and commerce.
Taking interests in business and with desire to produce made in Vietnam products capable of competing with products from countries in the region, Mrs. Huong noticed high potential in clean plastic particles processing after having researched the market. As such, the process of transforming inferior plastics into clean plastic particles to supply manufacturers are not only a business opportunity, but also helps improving the environments. 

With ideas for start ups, but lacking capital and inexperience, she has been learning nonstop modern technology and finding potential partners in Hung Yen province for cooperation. On one hand, she put up business of collecting plastic wastes at some factories and then transferred back to facilities in Hung Yen, afterwards, she took in recycled plastic from these facilities and sold it to manufacturers. For each deal she earned profit of 5-10 million VND. However, due to the consistency in quality, many times products were returned. Knowing with this method her business cannot develop sustainably, in 2014, Mrs. Huong and her husband invested in hiring facility and purchased equipment. So the Minh Phu International investment in trade and commerce was born.
 
Mrs Nguyen Thi Huong (on the right), Chairman of board and General Director of Minh Phu company.
Mrs Nguyen Thi Huong (on the right), Chairman of board and General Director of Minh Phu company.
Overcame initial challenges, after 6 months of operation, her enterprise has now become more stable. After 3 years of nonstop learning and appropriate business strategy, from an unknown enterprise in the market, as of now, Minh Phu has become a credible brand in fields of clean plastic particles production. The enterprise has attracted a lot of orders and gradually becomes partner with big companies like Samsung, Canon. The facility of Minh Phu is 7,000m2 and employs 80 workers at 02 factories in Bac Ninh and Hai Duong, supplying 500-700 tons per month. In 2016, the revenue is 90 billion VND.
 
Mrs Nguyen Thi Huong Chairman of board and General Director of Minh Phu company.
Mrs Nguyen Thi Huong Chairman of board and General Director of Minh Phu company.
These results are achieved through hard-working and many sleepless nights. Mrs. Huong said, at the time of start-up, she faced many difficulties, especially in capital. With a loan of 2 billion VND, step by step she realized her business plan. However, due to inexperience and insufficient knowledge on the plastic market, after 2 months of start-up, her project became a failure and loss 2 billion VND in investment. After the difficult time, she put her business on hold to research the market and customer needs both in domestic and some neighbor countries. She realized that they not only need high quality products, but also steady supply stream with credibility in the market. “I have a strong passion with this start-up idea. The collection of damaged clean plastic particles in production will not only reduce waste causing environmental pollution, but also increase the material output to meet the market demands, in turn contributing to sustainable development” – she said.
     
Understanding the market trend and customer demands, she started her business again. Taking advantage of the large amount of materials in hand, abundance workforce and determination, her enterprise has gone from strength to strength. At present, her production capacity is not enough for the customer demands. Besides the domestic market, Minh Phu also exports to Korea, Thailand, China with main products such as PP plastic particles, PET, ABS plastics particles.

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