Plastics & Rubber Vietnam 2024 exhibition kicks off in HCM City

On March 13, the 11th international exhibition on plastics and rubber technology, materials, and machinery opened in Ho Chi Minh City, with the participation of more than 60 booths showcasing products in the plastics-rubber industry from 12 countries and territories, including the UK, Germany, China, Singapore, and Vietnam, among others.

With a total area of 3,300 sqm, 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.

Plastics & Rubber Vietnam 2024 exhibition kicks off in HCM City | Business | Vietnam+ (VietnamPlus)
Delegates at the Plastics & Rubber Vietnam 2024 exhibition in HCM City on March 13. (Photo: VNA)

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 in 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 tonnes by 2029, growing at a compound annual growth rate (CAGR) of 8.44% in the period of 2024 – 2029.

Despite the 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 tonnes, worth 365 million USD, up 92.6 per cent in volume and 99.8 per cent in value year on year.

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(Source: VNA)