The plastic industry aims for sustainable development

​(News Portal – Dong Nai) - As the supporting manufacturing industry for other industrial sectors, Vietnam’s plastic industry is experiencing a rapid growth. Many of its products now is capable of meeting the strict requirements of the international market and are exported to other countries. ​

Recycling activity at Trung Pham Trading and Services Company Limited

Along with development prospects, green growth is a mandatory trend for all manufacturing industries. Enterprises in the plastic industry are trying to keep up with this trend.

A vital manufacturing industry

Data from the General Statistics Office shows that currently the plastic industry has nearly 4 thousand enterprises nationwide, 90%of which are small and medium in scale, concentrated mainly in the southern part of the country. In the past 5 years, the plastic industry's growth rate has always reached double digits, from 12-15%/year.

Total revenue of the plastic industry has reached over 25 billion USD, of which exports account for 22%. Vietnamese businesses can produce a wide range of plastic products for domestic consumption and export. Plastic product export turnover has grown steadily over the years from 3 billion USD in 2018 to 5.5 billion USD in 2022, with an average growth rate of 12-20%. These products have been exported to more than 160 countries and are present in many demanding markets around the world.

According to experts, Vietnamese plastic products in recent years have also been highly appreciated for their level of innovation and improvement in quality and design. A series of domestic plastic companies have invested in technical equipment in each production stage to create products that meet the increasing requirements of domestic and international customers.

Mr. Ho Duc Lam, Chairman of the Vietnam Plastics Association, Chairman of the Board of Directors of Rang Dong Holding Joint Stock Company (Ho Chi Minh City) commented that the production and consumption of the world and Vietnam plastic industry was expected to continue to increase in production and consumption in the future, because the demand for plastic in many fields such as packaging, automobiles, electronics, healthcare, and agriculture was still rising. Plastic products are increasingly used; in particular, in some fields plastic has also become an alternative material replacing traditional materials such as construction, electricity and electronics. Many domestic plastic enterprises have been promoting investment in technology, factories, and partnerships with foreign companies to focus on investing in products for the domestic market as well as export.

The goal is green growth  

According to the Vietnam Plastic Association, there is a transition to environmentally friendly products such as recycled plastic, bioplastic, and reusable plastic. In addition, the world and Vietnamese plastic industry will increase investment in research and development of new plastic technology, to create high quality products, reducing raw materials and energy and minimizing negative impacts to the environment. In addition, due to increasingly fierce competition in the industry, businesses will have to increase productivity, improve product quality, reduce power consumption and reduce production costs to compete in the international market.

DNP Holding Joint Stock Company (Bien Hoa 1 Industrial Park) oversee multiple subsidiaries such as Dong Nai Plastic, Tan Phu Plastic with 2 products in the plastic industry: household plastic and plastic for construction projects. Over the years, the corporation has made efforts to continuously improve technology, investing in import lines from G7 countries. Dong Nai Plastic has achieved the prestigious certification "Green Mark Standard Certification" in Vietnam in the field of plastic pipes and accessories.

Currently, the company is aiming to build a green material ecosytrunk for projects that save energy, allowing investors to easily make a difference in their projects.

Similarly, even though it is a small-scale enterprise, Mr. Pham Quang Trung, Director of Trung Pham Trading Service Company Limited (Long Thanh district) specializing in processing and supplying plastic pallets, also believed that recycling was a matter that businesses should concern. Currently, in addition to supplying new orders, the company also leases used products and purchases scrap plastic and old products to recycle and regenerate the product life cycle to protect the environment.

“More and more countries and partners are putting safety and sustainable development first, as well as green production, so the plastic pallet industry is given more priority than wooden pallets, which are scarce in raw materials. We have a team that purchases scrap plastic products to produce plastic pallets to serve customers, so many partners appreciate this action" - Mr. Trung shared.