HÀ NỘI ( WNAM MONITORING): Kohdayar Marri, Pakistan’s Ambassador to Việt Nam, recently visited the Q&T Polymer multi-layer paper factory in Hòa Lạc High-Tech Park, Hà Nội, expressing astonishment at the factory’s state-of-the-art production line, which marks a significant milestone for Việt Nam.
Officially commencing operations in August 2022, the facility has ended a two-decade reliance on imported polymer money printing materials. As the fifth factory of its kind globally, it positions Việt Nam as the third country capable of producing multi-layer base paper for polymer currency, serving approximately 40 nations.
During his visit, Marri engaged in discussions with Nguyễn Đức Cường, Chairman of the National Money Printing Factory, and Lương Ngọc Anh, Chairman of Q&T High Tech Polymer Company Ltd. He praised the company’s professionalism and exceptional quality, said: “Looking at all the samples, they seem to be second to none.”
Marri emphasised that Q&T’s experience would greatly benefit the State Bank of Pakistan and its Treasury, making the task of printing or reprinting currency more efficient.
He also highlighted the potential for Vietnamese businesses in Pakistan, expressing hope that more Pakistani entrepreneurs would visit Việt Nam to explore opportunities. “I’ll have to speak to them about it and maybe get them to come over here and see the factory,” he said.
Q&T has made significant strides since its inception, securing its first contract to supply money printing paper to the National Money Printing Factory in 2023, followed by two additional successful bids in 2024. This rapid progress showcases Q&T’s ability to compete effectively against foreign firms, underscoring Việt Nam’s advancement in polymer currency production.
The company holds an exclusive patent for manufacturing polymer-based paper with nearly ten printing layers, enhancing the security features of its products to meet both domestic requirements and international demands. The establishment of Q&T’s factory demonstrates Việt Nam’s commitment to mastering advanced technology in currency production, following a journey that began in the mid-1990s.
Việt Nam’s venture into polymer currency was notably influenced by Prime Minister Võ Văn Kiệt’s trip to Australia in 1998, where he learned about the advantages of polymer banknotes. Despite proposals for a transition being made at that time, implementation did not occur until December 2003. Now, Việt Nam stands alongside Australia and the UK in producing polymer banknotes, with around 75 billion polymer notes currently in circulation globally.
