Wedoany.com Report-Oct. 27, With sustainable development becoming a global priority, Vietnam’s plastics industry is actively transforming its growth model toward a green and circular economy, according to the Vietnam Plastics Association. The association is promoting the establishment of a dedicated recycling industrial park to enable small and medium-sized enterprises to adopt clean technologies, support net-zero objectives, and strengthen the sector’s role in the green economy.

Deputy Chairman of HCM City People’s Committee Nguyễn Văn Thọ speaks at the 35th founding anniversary of the Việt Nam Plastics Association held on October 22.

Đinh Đức Thắng, Chairman of the Vietnam Plastics Association, stated: “Vietnam is entering a new development era with increasingly strict environmental, tariff, and international green standards.” He added: “This is both a challenge and a motivation for the plastics industry to restructure, innovate in technology and design, promote the circular economy, enhance recycling, and develop environmentally friendly materials.”

Speaking at the 35th founding anniversary of the association held on Wednesday, Thắng emphasised that the industry must advance sustainable, green, and circular development by expanding plastic waste collection and recycling, while sustaining high growth to contribute to the Government’s long-term GDP targets.

In 2024, Vietnam’s plastics industry recorded revenue of nearly US$32 billion, with exports reaching $10 billion across almost 190 global markets. Deputy Chairman of the Ho Chi Minh City People’s Committee, Nguyễn Văn Thọ, highlighted the sector’s significant role in the city’s industrial output, export performance, job creation, and the development of supporting industries. Thọ said the city would continue to create favourable conditions for plastics enterprises to enhance innovation, drive digital transformation, and strengthen participation in the global value chain.

He noted that the city would promote stronger linkages between the plastics sector and supporting industries, deepen collaboration among enterprises, research institutes, and universities, and focus on improving technological capacity and developing high-quality human resources.

During the anniversary event, a Memorandum of Understanding (MoU) was signed between the Vietnam Plastics Association and the Vietnam Waste Recycling Association for the 2025–2028 period. The agreement marks a new stage of cooperation to advance the circular economy, improve product quality, and enhance domestic production capacity.

Under the MoU, both associations will collaborate to develop technical standards for recycled materials, share data on technology and markets, conduct human resources training, and pilot local collection and recycling models. They will also support businesses in meeting traceability, certification, and environmental requirements set by major export markets.

Over the past 35 years, Vietnam’s plastics industry has grown to encompass more than 4,000 enterprises, about 90% of which are small and medium-sized businesses. The sector provides stable employment for hundreds of thousands of workers and continues to be a vital contributor to the country’s industrial growth and sustainable development agenda.