In addition to their own efforts, businesses and industries are calling for stronger policy assistance to accelerate green transition, expand market access, and boost long-term competitiveness.
The paper industry needs to switch from production of normal packaging since supply exceeds demand and invest in other items such as high-quality packaging paper, which is still mostly imported, according to the Vietnam Paper and Pulp Association.
The domestic paper industry has achieved good growth in the past five years and expects to maintain the momentum until 2025 driven by demand for tissue and packaging paper, according to the industry business group.
The paper industry has potential for growth, but businesses need to avoid investment in products that have excess supply, according to the Vietnam Paper and Pulp Association (VPPA).
The paper industry contributes about 1.5 percent to the country’s gross domestic product. However, the sector has not developed a growth strategy. This lack of development plans has led to imbalanced
Vietnam holds great potential to develop its paper industry and is likely to rake in more than 1 billion USD a year from paper exports, heard a seminar in Hanoi on October 16.
A capital shortage for local paper manufacturers could make them lose out to foreign direct investment (FDI) enterprises in their own country, according to experts.
The domestic paper industry is forecast to face a spectrum of difficulties in 2016, said Vu Thanh Binh, General Director of the VN Paper Corporation at a conference in Phu Tho province on Jan. 21.
The Ministry of Industry and Trade will support and facilitate business opportunities for Vietnamese and Slovenian firms in both countries, said Deputy Minister Ho Thi Thoa.
