A plastic pipe production factory in Van Giang district, Hung Yen province (Photo: VNA) HCM City (VNA) – The plastics industry produced 8.89 million tonnes of products in2019, up 7.2 percent from the previous year, and earned 17.58 billion USD in totalrevenues, it was reported at a conference held by the Vietnam PlasticsAssociation on January 3.
Packagingaccounts for the largest share in the industry’s value structure with 35percent, followed by construction plastics 24 percent, household products 22percent and technical products 19 percent.
The industry alsorecorded a 12.2 percent increase in export value to more than 3.4 billion USDin 2019. Japan and the European Union are the two biggest export market ofVietnam’s plastic products.
Chairman of theassociation Ho Duc Lam noted that the Finance Ministry has agreed to maintainthe current tariff of 3 percent on polypropyleneplastic (PP) pellets until the end of 2022, which he said is a positivesign for the industry.
According to theassociation, with an average growth of 10 percent a year, the industry needsnearly 2 million tonnes of by the end of2022. Domestic production can meet only 38 percent of this volume. Therefore, anytariff rise will affect the industry’s competitiveness./.
VNA
