HanoiPlas PrintPack promotes Vietnamese plastics

Speaking at the event, Tiger Lin, executive director of ChanChao International said, “HanoiPlas PrintPack is an untapped chance for firms to upgrade their equipment and create several new business cooperation opportunities.”

Lin said that Vietnam’s plastic industry was experiencing significant growth, with a 12.5 per cent rise in production volume last year, reaching 11.2 million tonnes.

“Vietnam is now a manufacturing hub for plastic products,” said Ho Duc Lam, president of the Vietnam Plastic Association (VPA). “The plastics industry has made a substantial contribution to the economy by supplying packaging, consumer goods, and products for the electronics, automotive, aviation, textiles, and agriculture sectors.”

The plastics industry in Vietnam is currently growing at an average annual rate of 10 to 12 per cent. According to data from the VPA, industry-wide revenue surpassed $25 billion in 2022, an increase of 5.7 per cent on the same period in 2021.

With the engagement of a number of large supply factories, such as Hyosung, Thailand’s SCG Chemical, and Nghi Son Refinery & Petrochemical, production capacity has increased significantly and is expected to meet approximately half the domestic demand in the near future.

Hoang Quang Phong, standing vice president of the Vietnam Chamber of Commerce and Industry, remarked that HanoiPlas Print Pack is an essential trade promotion event and assists investors in locating new partners and markets.

“HanoiPlas has attracted over 200 companies from the industry and establishes an environment for domestic manufacturers to gain access to cutting-edge technology, methods, and services. This in turn enhances the viability of Vietnamese industrial products in the global supply chain,” said Phong.