The plastics industry has enjoyed impressive growth this year, driven by steady demand from the construction, packaging and consumer industries, according to the Việt Nam Plastics Association.
The Vietnamese plastic industry has made continuous progress to more effectively support the business community, especially the green production transformation.
The plastics industry is likely to reduce imports of raw materials in the coming years due to increased domestic production, according to the Việt Nam Plastics Association.
With solid growth in shipments, the plastics industry will surely meet its full-year export target of US$3.2 billion, according to the Viet Nam Plastics Association.
Plastic companies are facing possible bankruptcy after 4,000 tonnes of plastic scrap, raw material for their production, have been held up at ports for tests to ensure they meet import criteria.
Exports of plastic products were worth US$1.43 billion in the first half of the year, a year-on-year increase of 20 per cent, according to the General Department of Vietnam Customs.
Thai investors are increasingly investing in Viet Nam''s plastic
industry, with many of them keen to fully acquire the Government''s
stakes in companies it plans to equitise.
Vietnamese household-appliance companies are concerned that
ASEAN-imported products will dominate the local market, especially in
traditional markets and supermarkets, in the near future.