Vietnam to print polymer banknotes for South Africa  

Q&T, a company based in the Hòa Lạc Hi-tech Park, has developed the polymer materials for the banknotes.

These materials make currency more durable, safer from counterfeiting, and environmentally friendly.

This highlights Vietnam’s experience in polymer technology by Vietnam’s National Banknote Printing Plant (NBPP).

Nguyễn Đức Cường, chairman of NBPP, said, "We can produce all types of notes in the world using polymer, with a capacity of up to five billion pieces annually. This partnership reduces costs and enhances efficiency."

Many African ambassadors have since lauded the move, expressing hope that it will be a game-changer for many other African countries.

Morocco’s Ambassador Jamale Chouaibi who visited the facility said, "Many African nations spend a lot to print currency abroad. What we saw here offers the same, if not better, quality at a much lower cost."

Mozambique’s Ambassador Ilundi Dos Santos added that Vietnam’s expertise could help African nations print their currency locally, reducing costs and improving security.