In the second quarter of 2024, Vietnam's GDP is estimated to have grown by 6.93% compared to the same period last year, up from 5.87% in the first quarter, according to the government's General Statistics Office (GSO). The GSO reported that the country's socio-economic situation continues to improve, with each

quarter showing better performance than the previous one.

The World Bank projects Vietnam's GDP growth for 2024 at 5.5%, faster than an expansion of 5.05% last year. For 2025, the growth forecast is 6.0%. The World Bank noted mixed signs of recovery early in 2024, with exports improving while consumption and private domestic investment are growing more gradually.

The Reasons to Attend Vietnam Plas Show !

• Local Plastics Industry Rising
  Vietnam’s plastics industry has around 2,000 businesses, and 83% are located in the Ho Chi Minh City. Its plastics products having a great competitive edge for packaging, household products, and construction and engineering plastics. These plastics products have gradually reached the point to where it can control the market of several countries.
•  Substantial opportunities toward EU market
  Vietnamese Government and the Ministry of Industry attach great importance to the plastics industry by establishing 5-year development plan to stimulate growth in the production of high-tech plastic parts and developing the recycling industry.
• The Vietnamese plastics sector is a dynamic landscape characterized by substantial growth and shifting

trends. Presently valued at 7,948 kilo tons, this market is on an impressive trajectory, with a projected

compound annual growth rate (CAGR) exceeding 10% from 2022 to 2027.

• Demonstrating this momentum, the first three months of 2022 saw Vietnam's plastic exports surge to 1.39

billion USD, marking a remarkable 28.9% increase compared to the same period in 2021.

• Additionally, Vietnam's unwavering commitment to environmental protection is shaping the industry's

course. The growing emphasis on environmental sustainability is spurring an increased demand for

advanced, high-tech applications within the plastics sector.

• In the first three months of 2024, Vietnam exported 414.31 thousand tons of rubber, with a revenue of

607.35 million USD. This represents an 8.5% increase in volume and a 14.3% increase in value compared to

the same period in 2023.

• This achievement propels Vietnam beyond industry stalwarts like India, Thailand, and Malaysia. Impressively,

the ascent continues into 2022, with rubber exports surging by 9,1% in the first two months, compared

to the previous year.

• The Vietnamese rubber industry attracts foreign investors due to low labor costs, numerous free trade

agreements (FTAs), and supportive government policies.