Vietnam enters bottleneck due to lack of raw plastics production

According to the report, the bottleneck in the development of the rubber and plastics industry in Vietnam is the lack of raw materials for production and the export of crude processed products. At present, Vietnam only meets 20-30% of the plastic raw materials required for production, mainly PVC, PET, PP, while 70% of other raw materials rely on imports. In the first half of this year, Vietnam imported about 2.7 billion US dollars of plastic raw materials, an increase of 20.3%. Compared with foreign companies (FDI), Vietnamese local plastics companies are less competitive and have a shortage of funds and technology.

At present, Vietnam's rubber stocks are large, and the future rubber export prices will remain low for a long time. In order to make full use of the rich natural rubber, Vietnam should attract foreign investment in the rubber and plastics industry to produce high-quality products to meet domestic and international demand. Only in this way can the plastics industry go longer.