With a total area of 3,300sq.m., the three-day Plastics and Rubber Vietnam 2024 offers an opportunity for domestic and foreign businesses to access the latest technologies in the industry as well as seek potential business partners.

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Delegates at the Plastics and Rubber Vietnam 2024 exhibition in Ho Chi Minh City on March 13

Speaking at the opening ceremony, General Director of Informa Markets Vietnam Ben Wong said that the event is expected to connect leading suppliers from all around the world with Vietnamese enterprises while promoting international trade across the plastics and rubber industry.

Besides, a series of seminars will be held in the framework of the exhibition on different perspectives on circular economy and recycling in the plastics and rubber industry, he added.

Commercial Counsellor at the Austrian Embassy in Vietnam Dietmar Schwank shared that Vietnam is a potential market for plastic, rubber and many other industries. The Austrian Embassy's Commercial Section Ho Chi Minh City is always ready to support Vietnam in investment, technology transfer and specialized experience, he said.

According to Mordor Intelligence, the scale of Vietnam's plastics market is expected to reach 10.92 million tones in 2024 and 16.36 million tons by 2029, growing at a compound annual growth rate (CAGR) of 8.44% in the period of 2024 – 2029.

Despite effects of the global economic situation, stimulus policies and business support activities have contributed to maintaining the growth of Vietnam's plastic industry. Along with plastics, Vietnam's rubber industry also showed positive signs in the first months of the year. The industry's exports in January 2024 reached 260,000 tons, worth 365 million USD, up 92.6% in volume and 99.8% in value year on year.

Source: VNA