★Vietnam Overview:

Vietnam is a country populated by 83 million people. In 1995, Vietnam joined AFTA, established diplomatic relations with USA, and signed a free trade agreement with the EU; Vietnam joined APEC in 1998, and officially became the 150th member country of WTO in January 2007. Vietnam also has the second highest economic growth in the world (following that of China). Ho Chi Minh City is not just the biggest city in Vietnam, but also a vital economical center. It contributes 20% of Vietnam’s GDP and 33% of the national income. It also accounts for 33% of gross national imports. Currently, Ho Chi Minh City has 13 export processing and industrial zones where more than 1,000 domestic and international companies are invested and more than 250,000 laborers employed.

★Vietnam supports the plastic industry while the sourcing of materials and equipment is all imported.

The plastic industry in Vietnam now encounters a challenging shortage of materials. 90% of operations rely on imported materials, with only 10% supplied from within Vietnam. According to statistics, the annual amount imported in this industry is 1.6~2 million tones, at a cost of around USD 2.1 billion. The amount exported earns approximately USD 750 million per year. Also, the plastic industry at this time needs to urgently build plastic waste recycling plants. Currently there are 2,200 plastic suppliers in Vietnam and 80% of them are located in Ho Chi Minh City.

★National Investment and the Introduction of Advanced Equipment:

So far, the total amount of plastic products produced in Vietnam has reached one million tones. However, the only field in which it is competitive in the international market is household plastic. 95% of the daily life plastic products sold in the supermarkets in Vietnam are manufactured domestically. (30% of the plastic industry’s overall production). Presently, these products include food and drink packaging, clean water bottles, seafood product packaging and more, and are nearly 100% made in Vietnam. Many Vietnamese plastic companies have started to shift their businesses to an export orientation by investing in high-tech equipment. For example, Loongchein Co. invested in the technology needed for the production of four-color printed beer crates. Dai Dong Tien Co. invested in pressure sensitive film high-tech equipment, and Liksin Co. invested in PE film blowing technology and machine. The 14th Vietnam International Plastic & Rubber Industry Exhibition, 2014The 14th Vietnam International Plastic & Rubber Industry Exhibition, 2014The 14th Vietnam International Plastic & Rubber Industry Exhibition, 2014The 14th Vietnam International Plastic & Rubber Industry Exhibition, 2014The 14th Vietnam International Plastic & Rubber Industry Exhibition, 2014