Plastics industry a leader in green production

According to the Vietnam Plastics Association, the plastic industry includes roughly 4,000 businesses nationally, with 90% of them being small and medium-sized operations, primarily in the southern region.

The plastic industry's total income has surpassed $25 billion USD, with exports accounting for 22% of total revenue. In the last five years, the sector's growth rate has been in the double digits, averaging 12-15% every year.

Vietnamese plastic firms have been manufacturing a wide range of plastic items for both home and foreign markets.

Vietnamese plastic products, in example, have been exported to over 160 countries and are present in numerous high-demand markets such as the United States, Germany, France, the United Kingdom, Italy, the Netherlands, Spain, and Japan.

With a total capacity of over 3 million tonnes per year, Vietnam can now create all types of plastic materials, including PVC, PP, PET, PS, and PE.

packing, sheets, plates, films, products used in transportation packing, domestic plastic, and ornamental items are some of the primary export products of the plastic sector.

According to Ho Duc Lam, Chairman of the Vietnam Plastics Association, the export turnover of plastic products has continuously increased over the years, from 3 billion USD in 2018 to 5.5 billion USD last year, with an average annual growth rate of 12-20%.

Domestic raw materials meet 30% of domestic market demand, with the remaining 70% imported from other nations and territories.

Lam further stated that, as the Vietnamese economy has changed, the Vietnamese plastic sector has made steady progress to better support the business community, particularly the green production transition.

The association will promote a strategy for the development of the Vietnamese plastic industry in the period 2023-2030, assisting businesses in having industry development and methodical investment orientations; and hold various domestic and foreign trade promotion programs, creating a bridge for businesses to integrate into the global market.

According to Le Anh, Sustainability Director of DUYTAN Plastic Recycling Company, the current packaging trend revolves around three words: moderation, reuse, and multi-use.

He believes that using plastic and recycled products will contribute in the application and expansion of the circular economy.

As a result, the key solution for manufacturers' package development today was to combine recycled materials with environmentally friendly designs, he noted.

Similarly, in the context of free trade market integration, circular economy, and green manufacturing, many units in the plastics and associated industries have defined sustainable development as a guiding concept in all corporate operations.

These units not only invest in recycling plants, but they also actively participate in efforts relating to the "green production path."

Many plastic businesses and related industries have established circular economic models by strengthening investment cooperation and joint ventures while also becoming suppliers and participating in the supply chain of a number of global brands, including Coca Cola, Nestle, LaVie, Unilever, and Suntory Pepsico.

Some Vietnamese companies have improved their branding and have become official members of the Packaging Recycling Organization Vietnam (PRO Vietnam) or the Vietnam Waste Recycling Association (VWRA).

Source: Vietnamplus