Potential of Vietnam’s plastic sector development

In comparison with other long-aged sectors such as engineering, electrics- electronics, chemicals… Plastic industry is rather young. However, Vietnam’s plastic sector has robustly developed for recent years with the growth rate of 16%-18% each year (only after 2 sectors of telecommunications and textiles).

With such rapid growth, the plastic sector is becoming one of the dynamic sectors of Vietnam. The impressive growth is attributed to the large potential market of the country because Vietnam’s plastic sector has entered the initial step of development in comparison with the world’s plastic sector. Plastic material has been applied in many fields. It is estimated by Vietnam’s plastic sector that there are about 4,000 enterprises in plastic field. 99.8% of them are private enterprises. Notably, anti- dumping duty has not been imposed on Vietnam’s plastic products as many Asian countries do. It facilitates Vietnam’s plastic products to increase export turnover in the time to come.