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The plastics industry is heavily dependent on imported raw materials

On average, in the last five years, export turnover of plastic enterprises has strongly recovered, maintaining an average growth rate of 8%. Currently Vietnam plastic products have been present in more than 150 countries and territories and built quite strong position in the fastidious markets such as Japan, USA, Germany ... Japan is the largest market of Vietnam plastic export enterprises with a weight of 26%, followed by the US with 11%, Germany 7% ... 

Despite the positive export, up to now, most of export items have not built their own brand. Competitiveness of Vietnamese plastic enterprises in particular and the economy in general is still low and the competition from foreign companies has led to some domestic plastic products being affected by the impact of Market opening, leading to the import of finished products increased strongly, compete directly with domestic production.

In addition, export turnover remained at high growth rate, mainly concentrated in the commodity groups of foreign invested enterprises (FDI). This group, although occupying a high proportion of the total export turnover of the sector, has not created any spillover effects and help many domestic companies joining the global value chain. 

By the end of 2017, the plastics industry has about 2,000 enterprises, of which nearly 84% are located in Ho Chi Minh City, Binh Duong, Dong Nai, Long An, Ba Ria - Vung Tau, the North accounted for 14.22% and the Central region was nearly 2%. 

The strengths of Vietnamese plastic companies include packaging, consumer products, construction plastics and engineering plastics. Due to the large dependence on imported materials (80% -85%), the plastic industry has maintained trade deficit for many years. Average trade deficit is about $4 billion between 2012 and 2017.

By Labor Newspapers.

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