The Vietnamese plastic industry needs to build production connectivity to help businesses exploit and secure market positions, aimed at reaching sustainable development in the long run.
Vietnamese businesses exported plastic products worth an estimated US$992.12 million in the first half of 2014, up 17.61 percent from the same period last year. They exported plastic products worth US$173.05 million in June alone, up 5.1 percent from the previous month. The price of Chinese plastic products increased to be similar to that of Vietnamese products of the same kind. With a high quality, Vietnamese plastic products’ competitiveness improved.
Japan remained the biggest importer of Vietnamese plastic products. It imported plastic products worth US$245.98 million from Vietnam in the first half of this year, accounting for 25 percent of Vietnam’s plastic exports in that period and up 25.11 percent from the same period last year. Plastic bags, plastic products used in packaging and transportation and industrial plastic products were major exports to Japan.
The US was the second biggest importer of Vietnamese plastic products. It imported plastic products worth US$125.5 million from Vietnam in the first half of this year, accounting for 12.65 percent of Vietnam’s plastic exports in that period and up 38.69 percent from the same period last year. Vietnamese plastic products attracted US consumers and were mainly used in the construction industry.
The EU market provided many opportunities for Vietnamese plastic businesses. Importers highly appreciated the quality of Vietnamese plastic products so their orders to Vietnamese exporters grew in value. Vietnamese plastic exports to Germany were US$55.97 million in the first half of this year, up 6.26 percent from the same period of 2013, while those to the Netherlands amounted to US$50.97 million, up 19.96 percent. Plastic exports to EU markets grew 3-6.1 percent per year.
India is expected to be a promising market for Vietnamese plastic products in the future. The demand for plastic products in Indian industries increased and the demand for packaging in India soared considerably. The boom in infrastructure, agricultural modernization, rising incomes and the concentration of population in urban areas also increased the demand for industrial and civil plastic products.
Vietnam Plastics Association Chairman Ho Duc Lam said that the plastic industry focused on developing exports qualitatively and quantitatively. Foreign importers highly appreciated the quality of Vietnamese plastic products. Vietnamese plastic exports in 2014 are expected to grow 13.5-16.5 percent over 2013.
In the context of economic integration, Vietnamese plastic businesses need to renovate technology, improve product quality and design and learn about the market’s new trends. They need to modernize technology and production lines, focus on developing environmentally friendly, safe products to international standards to make Vietnamese products recognized in foreign markets.
In the long term, Vietnamese businesses need to build production connectivity to form major product supply chains, giving priority to product quality improvement, Lam said./.
Hung Cuong