Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry speaks at the opening ceremony of the exhibition. (Photo: VNA)Hanoi (VNA) – The 11th Hanoi International Plastic,Rubber, Printing, and Packaging Industry Exhibition (Hanoi PlasPrintPack 2023)was opened in Hanoi on June 8, attracting 200 companies with 340 booths.
The companies are from 11 countries and territories includingChina, India, Indonesia, Japan, Malaysia, the Philippines, Taiwan (China), HongKong (China), Thailand, the UK, and Vietnam.
Speaking at the opening of the exhibition, Hoang Quang Phong,Vice President of the Vietnam Chamber of Commerce and Industry, said that alongwith the development of the domestic manufacturing industry, the plastic,packaging, and printing industries also see rapid growth. They are supportingindustries with great potential and require high-tech products, modernproduction processes, and management to increase competitiveness in the market.
Ho Duc Lam, Chairman of the Vietnam Plastics Association, saidthat Vietnam now counts nearly 4,000 plastics businesses, 90% of which are smalland medium enterprises.
Over the past time, Vietnam's plastics industry has grownstrongly for years with an annual average rate of 10-12%. Industryrevenue in 2022 topped 25 billion USD, up 5.7% over the same periodin 2021.
However, the growth rate of Vietnam's plastics industry have been seeing signs of a slowdown from the beginning of 2023 due tothe global economic recession in general and the lingering impact of theCOVID-19 pandemic in particular, Lam said.
Moreover, Vietnam’s plastics industry still largely depends onimported raw materials, machinery, and equipment, he said.
The exhibition will run through June 11./.
