According to the report of the Vietnam Plastics Association, the growth rate of the plastic industry in the past 5 years has always been at 12 - 15%/year. The total revenue of the plastic industry has now reached over 25 billion USD, with exports accounting for 22%, and Vietnamese plastic products are present in demanding markets such as the US, Japan, Australia and the community of European countries such as Germany, France, UK, Italy, Netherlands, Spain, etc.
Vietnamese plastic products used in water supply industry
Plastic export turnover has grown steadily over the years, from 3 billion USD in 2018 to 5.5 billion USD in 2022, with an average growth rate of 12 - 20%/year. Main export products are packaging, sheets, plates, plastic films; products used in packaging and transportation, household plastics, decorative items, tarpaulin.
The biggest expectation of the Vietnamese plastics industry today is that trade agreements, especially the Vietnam - EU Free Trade Agreement (EVFTA) will come into effect, removing tariffs on most plastic products exported to the EU market. This is a great advantage to increase the export output of the Vietnamese plastics industry in this important market.
Plastic packaging is one of the main export products of Vietnam's plastic industry.
Up to now, Vietnam can produce raw materials such as PVC, PP, PET, PS, PE with a total capacity of nearly 3 million tons/year. The Vietnamese plastics industry also expects to be less dependent on imported raw materials in the coming years thanks to the improvement of domestic raw material production capacity from petrochemical plants: Long Son, Dung Quat, SCG and Hyosung Plastic Factory. These are factories that supply raw materials to meet more than 30% of current domestic raw material demand. The remaining 70% is imported from markets such as: Saudi Arabia, Korea, Thailand, Japan, USA, China, Taiwan, Malaysia, Singapore... The output of imported raw materials has grown steadily over the years, from 5.589 million tons in 2018 to 7.12 million tons in 2022.
The 7th Congress of the Vietnam Plastics Association (2023 - 2028) took place in Ho Chi Minh City today, October 25.
Vietnam Plastics Association was formed in the early 90s, and now has over 200 members from all economic sectors, most of whom play a key role in each sector of the industry. The plastics industry currently has nearly 4,000 enterprises nationwide, of which 90% are small and medium-sized enterprises, mainly concentrated in the southern region.
The Vietnam Plastics Association has set out 5 important tasks for the 7th term (2023 - 2028), including the task of building a development strategy for the plastics industry for the period 2023 - 2030 to help businesses have a systematic development and investment orientation. In addition, the task is to build and implement domestic and foreign trade promotion programs so that businesses have a basis to exchange and promote products to countries around the world .
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