Vietnam’s plastic industry posts 25 percent growth

Nguyen Thanh Binh, director of the Vietnam Chamber of Commerce and Industry, said that plastic industry is currently the fastest-growing industry in Vietnam with average growth of 20-25 percent per annum.
Vietnamese-made household plastic products have been selling in several countries in the world with high competitive advantages, especially for packing, household plastic products, plastic building products, and plastic technical products.
However, the development of plastic industry is considered unsteady because it depends on imported materials. Domestic material supply merely accounts for 10-15 percent of total demand. Thus, cost price of plastic products always changes in accordance with input material price and US dollar exchange rate.
The 15th International Plastics and Rubber Industry Exhibition 2015 was held in Ho Chi Minh City on September 16. The exhibition attracted 300 local and foreign businesses with more than 400 pavilions.

By Ai Van – Translated by Thuy Doan

Other news