Vietnam's plastics sector will maintain its strong growth rate of 14-16 percent in the next few years due to its young population and high consumption capacity.
At a Alkyd plastic producer in Hai Phong (Source: VNA)
HCM City (VNA)💟 - Vietnam's plastics sector will maintain its strong growth rate of 14-16 percent in the next few years due to its young population and high consumption capacity, according to the Vietnam Plastics Association.
Falling oil prices will benefit the plastics manufacturing by lowering production costs but also boosting demand, Ho Duc Lam, Chairman of the association, said.
"The plastics manufacturing industry is one of the fastest-growing industries in Vietnam, sustaining an average annual growth of 16-18 percent between 2010 and 2015," he added.
"Vietnam's production output of plastics per capita increased sharply from 3.8 kg/per year in 1990 to the current 41kg/per year," Lam said at a workshop held on March 2 in HCM City.
In developed countries, the average per capita consumption is much higher. In Japan, it is 118kg/per year, in the US 155kg/per year and in the EU 146kg/per year.
Most of the production is concentrated on domestic items with packaging (37 percent), household appliances (29 percent), construction (18 percent) and technical products (15 percent).
Plastics in the technology industry such as pressure pipes and covers of TV have high added value but very few enterprises are engaged in this work, he added.
The biggest challenge for the domestic plastics industry is the import of raw materials, which accounts for 85-90 percent of raw materials.
The sector imports an average of 3.5 million tonnes of raw materials while domestically produced supplies of raw materials and chemicals are only 900,000 tonnes.
By 2020, domestic plastics producers would need five million tonnes of raw materials for manufacturing.
The plastics industry lacks technology and know-how, with many of the polymer manufacturers using out-of-date equipment imported from China.
The plastics industry needs to invest more than 2.5 billion USD in machinery every year.
Last year, plastics exports rose by 12.4 percent compared to the previous year, with export revenue totaling 2.4 billion USD.
The largest importers of Vietnam's plastics products were Japan (22 percent) and US (14.6 percent).
The sector has more than 2,200 enterprises, with private enterprises accounting for 99.8 percent and the remaining 2 percent belonging to State-owned enterprises.-VNA
The recent devaluation of the dong combined with higher power costs could rob plastic enterprises of all or most of their profits, Le Quang Doanh, chairman of Vietnam Plastics Association, said.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
At a Alkyd plastic producer in Hai Phong (Source: VNA)
