The plastics industry has enjoyed impressive growth this year, driven by steady demand from the construction, packaging and consumer industries, according to the Vietnam Plastics Association.

A lot of plastic enterprises are pioneering in promoting and connecting green production to meet the increasing demands of consumers as well as global market trends.

The plastics industry is likely to reduce imports of raw materials in the coming years due to increased domestic production, according to the Vietnam Plastics Association.

Although informal recycling facilities play an important part in plastic waste management, their substandard practices are often doing more damage than good to the environment.

The Ministry of Natural Resources and Environment (MONRE) is developing a legal document to specify fees for recycling products and packages, which is expected to be applicable in 2024.

The cost to hire shipping containers has skyrocketed to nearly ten times its pre-pandemic level, according to export businesses and trade agencies.

The plastics industry produced 8.89 million tonnes of products in 2019, up 7.2 percent from the previous year, and earned 17.58 billion USD in total revenues, it was reported at a conference held by the Vietnam Plastics Association on January 3.

The local plastic industry, with solid growth in shipments, will surely meet its yearly export target of 3.2 billion USD, according to the Vietnam Plastics Association.

An environmental protection programme will be carried out in 2019 to help improve plastic consumption habits.

Exports of plastic products were worth 1.43 billion USD in the first half of the year, a year-on-year increase of 20 percent, according to the General Department of Vietnam Customs.

The massive increase in the number of M&A deals involving foreign investors is putting pressure on Vietnam’s plastics industry.

Exports of plastics are expected to grow by 12–15 percent this year, according to the Vietnam Plastics Association (VPA).