Hanoi Plas 2024: Vietnamese plastics industry's chance to go green
Hanoi Plas 2024: Vietnamese plastics industry's chance to go green
The Vietnamese government is expected to adopt policies that encourage the collection, recycling and reuse of materials to minimize the depletion of natural resources and reduce plastic waste.
The 12th Hanoi International Plastics and Rubber Industry Exhibition (Hanoi Plas 2024), is considered as a platform for Vietnam’s plastics industry to go green by showcasing new technologies and environmentally friendly materials for circular economic development, towards sustainable plastic products in the world.
Delegates cut the ribbon to mark the opening of the Hanoi Plas 2024. Photos: Anh Kiet/The Hanoi Times |
Dinh Duc Thang, Vice Chairman of the Vietnam Plastics Association, made the statement at the fair which is underway at the Hanoi International Exhibition Center (ICE) from June 5 to 8.
"Vietnam's plastics industry is growing at an annual rate of 10-12%. In 2023, the industry's revenue exceeded US$25 billion. In the first half of 2024, Vietnam's export of plastic products is expected to surge to more than US$3.15 billion, an increase of over 32% year-on-year, which could potentially entice international investors," Thang said.
Vietnam's production capacity for plastic materials is expected to meet about 50% of domestic demand soon. At present, the country's plastics industry consists of nearly 4,000 enterprises, of which 90% are small and medium-sized.
With the global trend of circular economy, the government is expected to adopt policies that encourage the collection, recycling, and reuse of materials to minimize the depletion of natural resources and reduce plastic waste, as outlined in the 2020 Law on Environmental Protection, Thang stressed.
"These policies will foster investment in new machinery and technology, creating opportunities for suppliers in the future," said the Vice Chairman, adding that Hanoi Plas 2024 is a place for suppliers to grasp the panoramic picture of this potential market.
With over 200 booths representing companies from 13 countries, including China, Germany, India, Indonesia, Japan, Pakistan, Singapore, South Korea, Thailand, the US, and Vietnam, the annual Hanoi Plas Fair, jointly organized by the Ministry of Industry and Trade and Yorkers Exhibition Service Vietnam, aims to introduce advanced technology and new products and facilitate industry cooperation.
Jesse Mei, Manager of Dongguan Noegem Plastic Products Co, Ltd, headquartered in China's Guangdong Province, told The Hanoi Times that by exploring the show, he can experience exciting product showcases, find cutting-edge solutions, network with industry experts in the plastics industry, and discover new opportunities.
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Judy Wang, President of Yorkers Exhibition Service Vietnam, speaks at the event. |
Speaking at the event, Judy Wang, President of Yorkers Exhibition Service Vietnam, said that Hanoi Plas 2024 marks an important moment for Vietnam's plastics and rubber industry.
The exhibition not only showcases significant advances and innovations in the industry but also promotes international cooperation and business growth. It aims to provide a platform for local manufacturers to apply the latest innovations, make investment decisions, and improve production efficiency.
She said this dynamic industry is considered critical in the global marketplace, where companies need high-tech products, advanced production processes, and modern management practices to increase competitiveness.
The fair also provides opportunities for domestic manufacturers to access advanced technologies, techniques, and services, thereby improving the quality and competitiveness of Vietnamese industrial products while deeply integrating into the international economy.
"Plastic products are becoming increasingly ubiquitous in various aspects of life, serving industries as diverse as textiles, footwear, seafood, food processing, electronics, appliances, healthcare, refrigeration, and others. Hanoi Plas 2024 helps me learn about many environmentally friendly plastic products, just right for my major," Nguyen Minh Truong, a student at Hanoi University of Science and Technology, told The Hanoi Times.
