On June 8, in Hanoi , the 11th International Exhibition on Plastics, Printing and Packaging Industry (Hanoi PlasPrintPack 2023) officially opened and will last until June 11.
HanoiPlasPrintPack 2023 brings together leading brands from the fields of plastics, printing and packaging to promote technological innovation and support business development, such as CMIC, GUIBAO, BOLE... or SANSIN, FUJIFILM, EPSON and HX PRODUCTION... The event attracted 220 participants from more than 11 countries and territories (including Belgium, China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Taiwan, Thailand, UK, Vietnam), with 340 booths displayed on an area of 8,000 m2.
Mr. Hoang Quang Phong, Vice President of the Vietnam Federation of Commerce and Industry (VCCI), shared that in recent years, Vietnam's economy has maintained a good growth rate, stable macro-economy, creating favorable conditions for expanding economic relations and investment, business and production activities of Vietnam with countries in the region and the world.
Along with the development of domestic manufacturing industry, the plastic, packaging and printing industry also recorded rapid growth, being a supporting industry with great potential, high technology, modern production and management processes.
Hanoi PlasPrintPack 2023 brings together manufacturing and trading enterprises in the industry to bring quality technologies, solutions, machinery, equipment and materials to the potential Vietnamese market.
Ms. Judy Wang, President of Yorkers Company (Taiwan-China) also said that the development of Vietnam's plastic industry has really increased significantly, with plastic product output reaching 11.2 million tons in 2022. This represents a significant increase of 12.5% over the previous year.
At the exhibition, businesses from various countries brought their latest products to introduce to customers, helping businesses seize opportunities to improve equipment capacity and increase opportunities in business investment and production.
Mr. Ho Duc Lam, Chairman of the Vietnam Plastics Association, emphasized that the plastics industry has nearly 4,000 enterprises nationwide, of which 90% are small and medium enterprises. Plastic products serve many industries such as textiles, footwear, seafood, food, electronics, household appliances, healthcare , refrigeration, construction, etc.
In recent years, the plastics industry has grown strongly, with an average growth rate of 10-12% per year. Industry revenue in 2022 also reached more than 25 billion USD, an increase of 5.7% over the same period in 2021.
However, the Chairman of the Vietnam Plastics Association admitted that the growth rate of Vietnam's plastics industry has shown signs of slowing down since the beginning of 2023 due to the global economic recession in general and the persistent impact of the COVID-19 pandemic in particular.
Vietnam's plastics industry is considered a processing industry because it depends on imported raw materials for 70-80%. Over the years, machinery and equipment have been imported almost 100% from major markets such as China, Taiwan, Korea, Japan, Germany, Italy, etc.
The industry's plastic raw material production capacity is being significantly improved and it is expected that in the near future it will be able to meet about 50% of domestic demand with the participation of several large suppliers such as Hyosung, Thailand's SCG Group, and Nghi Son Refinery and Petrochemical Plant.
With the general trend of the world in developing a circular economy as well as in Vietnam, in the coming time, the Government will have a policy to promote the collection, recycling and reuse to minimize natural resources and reduce plastic waste in the environment as stipulated in the Law on Environmental Protection issued in 2020. This will contribute to increasing investment in new machinery and technology to serve market demand, creating opportunities for suppliers of new machinery and raw materials in the future.
The exhibition also features seminars that provide the opportunity to build valuable connections and gain insight into the future of the plastics, printing and packaging industries.
The exhibition takes place from June 8 to 11 at the ICE Hanoi International Exhibition Center./.
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