Opportunities are great, but getting and taking advantage of opportunities is up to each company, especially for the opportunity of resources.
According to statistics from the General Department of Customs, the growth rate of plastic export turnover has continuously increased in recent years from 1.5% in 2015 to 14% in 2017 (reaching 2.5 billion USD). In the first 9 months of 2018, export turnover of plastic products reached $ 2.2 billion, up 19.2% over the same period last year.
Exports are strong in many markets
According to the Ministry of Industry and Trade, in the first nine months of this year, there were four markets worth over US $ 100 million in plastic exports, including Japan, the United States, South Korea and the Netherlands. Of which, Japan accounted for 22% of the total market, reaching $ 484.8 million, up 17.49% over the same period of 2017.
The export products are plastic bags, household plastic, office furniture, school and canvas. Currently, Japan’s demand for plastic products is estimated at over $ 10 billion annually. Therefore, this will be the most potential export market of plastic products in Vietnam. Second place was the US market, accounting for 15.7% of the total reached 348.7 million, up 24.86% over the same period. Products exported to this market are plastics used in shipping, packaging and household plastics, plastic bags and canvas. The Korean and Dutch markets have a growth rate of over 18%, reaching $ 119.5 million and $ 114.4 million, respectively.
In general, the first nine months of 2018 exports of plastic products grew in most markets, especially in Hong Kong (China) and India. In particular, Hong Kong imported only 45.8 million, but compared with the same period increased 2.5 times. The Indian market is 2.4 times faster than the US $ 31.3 million.
According to Trade and Industry Information Center, Ministry of Industry and Trade, Vietnam’s signing of FTAs has brought many opportunities for exporters of plastic packaging. The partners are moving orders from China to Vietnam to take advantage of cheap production costs, export taxes to Korea, Japan and Europe … enjoy many incentives.
Demand for plastic products in the EU market, Japan is still high, increasingly preferred plastic products in Vietnam, especially plastic pipe and plastic bags. This is also a traditional market, enterprises have the ability to penetrate well. Especially, in the EU market, Vietnam plastic products are not subject to anti-dumping tax from 8-30% as the country. Plastic packaging manufacturers expand their export market share to the European market thanks to double benefits in terms of price and preferential import tax rates.
From the company, Mr. Ho Duc Lam, Director of Rang Dong Plastic Company, said that the production and export activities of enterprises in recent times have many advantages by taking advantage of cheap raw materials from the Central National ceases to import plastic materials. In addition, due to not import raw materials, Chinese companies are also forced to import recycled plastic to serve production. This is a great opportunity for Vietnamese enterprises to promote export to China market. In 2017, Vietnam exported 477 tons of plastic in which export to China accounted for 50%, up nearly 100% in volume compared to 2016. From the beginning of this year, exports of plastic products to the Chinese market also grew strong. In the first nine months of this year, plastic products in this market increased by 85%. Plastic exports to Hong Kong also increased by 150% over the same period last year.
Tran Vu Le, Director of Le Tran Company, said that to seize the opportunities of cheap imported materials, Le Tran Company has set a target to export about $ 30 million of recycled plastics this year. Not only Le Tran, many other companies have also been actively investing in plants and wire technology to meet the environmental requirements in plastic recycling to take advantage of the opportunities, especially the opportunity to source Materials to expand production.
According to information from the Vietnam Plastics Association, the business situation of plastic enterprises from the beginning of the year to tend to stabilize and develop better than the same period in 2017. Based on the situation business output of the industry in the past nine months can estimate the export growth rate of plastic and semi-finished plastic products this year will range from 10.6% to 13.5%, so export turnover of the year 2018 is estimated at $ 3.2 billion. According to Huynh Thi My, general secretary of the Vietnam Plastics Association, a series of FTAs have been signed recently to open a huge opportunity for Vietnamese plastic enterprises if enterprises invest in expanding production, pressure. Technology to meet the needs of export markets. In addition, the US – China trade war is very limited export activities of plastic products of Chinese enterprises into the US market is also opening up opportunities to increase orders for Vietnamese plastic enterprises into the market. This.
Opportunities are great, but according to Ms. Huynh Thi My, the grasp and use of opportunities is up to each company, especially for the opportunity of raw materials, with policies to limit scrap imports. At present, only the enterprises have prepared the new version can meet. Therefore, along with opportunity is also a challenge and enterprises must be prepared to take advantage of the opportunities for sustainable development.
According to Tapchicongthuong.vn