State Bank of Vietnam to enforce monthly cap on e-wallet transactions

The State Bank of Vietnam, which is the country’s central bank, has issued a new fiat to restrict an e-wallet user’s monthly transactions to no more than VND100 million (US$4,324).

This payment cap is stipulated in Circular 23/2019/TT-NHNN dated November 22.

The order will take effect on January 7, 2020.

A user’s transactions to pay for legitimate goods and services and tranfer money between e-wallets powered by the same company are limited to VND100 million a month, according to the circular.

The central bank has crossed out a proposed article capping the transactions’ value at VND20 million ($865) a day.

Such abolition of a daily cap will spur cashless payment, e-wallet service providers said.

The fiat also requires that users top up their e-wallets via checking accounts, debit cards, or transfers from their peers, who use the same e-wallet service.

Users are permitted to use e-wallets to pay for goods and services, transfer money to other users, and credit their checking accounts or debit cards with money withdrawn from their e-wallets.

The State Bank of Vietnam bans the use of e-wallets to launder money, sponsor terrorism, cheat, and commit other violations.

The central bank also prohibits leasing or lending e-wallets, as well as trading e-wallet information.

E-wallet service providers are forbidden from granting credit to users, pay interest on the balance in their accounts, or taking any action that may increase the amount of money with which the users top up their wallets.

Cashless payment is on the rise in Vietnam as more and more people use e-wallets to pay for groceries, taxi fares, phone and electricity bills, water supply, and plane tickets.

Vietnam currently has 30 e-wallet service providers licensed by the central bank, including MoMo, Moca, ZaloPay, VNPay, Monpay, and ViettelPay, according to the World & Vietnam Report, the official press agency of the Vietnamese Ministry of Foreign Affairs.


State Bank of Vietnam to enforce monthly cap on e-wallet transactions

Experts call for smart air monitoring system to combat pollution

HCM CITY— Authorities in provinces and cities around the country should co-operate with sensor manufacturers, data management companies and scientists to make plans to monitor air pollution, which is increasingly causing public worry, a HCM City environment official told a conference this week.

Assoc Prof Dr Mai Tuấn Anh, head of the Department of Natural Resources and Environment’s division for climate change and meteorology said a smart monitoring system would help people take the initiative to protect themselves and authorities to take measures to reduce pollution.

Assoc Prof Dr Hồ Quốc Bằng, director of the HCM City Air Pollution and Climate Change Research Centre, said the city’s pollution comes from industries, vehicles and other sources.

The Department of Transport should ban vehicles failing to meet technical safety standards, he said.

City authorities should also have programmes to reduce gas emissions by factories and enable them to use steam generators, he said.

The department should step up surprise inspections of factories to monitor emissions, he said.

“Clean” stoves should be provided to poor families in the city’s five outlying districts to reduce pollution, he added.

Dr Trần Ngọc Đăng of the University of Medicine and Pharmacy’s public health faculty said using clean stoves would also help reduce air pollution inside houses and improve their occupants’ health.

More research to comprehensively assess air pollution in the country and the harm it causes to health and the economic losses should be done to help improve policy making, he said.

Nguyễn Thế Đồng, former deputy head of the Việt Nam Environment Administration, said data from the Ministry of Natural Resources and Environment showed the air in the country had become increasingly polluted over the last 10 years.

The Law on Environmental Protection had failed to keep up with the country’s development, he said. Besides, it did not clearly spell out the responsibilities of each ministry and local agency.

The law needed to be amended to require businesses to furnish environmental management and protection plans before their project becomes operational, he said.

It is enough now if they furnish them after starting operations.

According to the World Health Organisation, PM2.5 levels, including pollutants such as sulphates, nitrates and black carbon, were 47.9 μg/m3 in Hà Nội and 42 μg/m3 in HCM City in 2016 while its recommendation is a maximum annual mean value of 20 μg/m3.

Air pollution was linked to more than 60,000 deaths due to heart disease, stroke, lung cancer, chronic obstructive pulmonary disease, and pneumonia in Việt Nam in 2016, WHO said.

The conference was organised by the Việt Nam National University HCM City’s Institute for Environment and Resources and NGO Center for Hands-on Actions and Networking for Growth and Environment. — VNS


Experts call for smart air monitoring system to combat pollution

Finding a way for sustainable FDI attraction

Amid rapid global changes, Vietnam is urged to take actions to increase the quality of investment flows. LNT & Partners, ALB Thomson Reuters Vietnam Law Firm of the Year 2019, analyses the important factors for the country to attract sustainable investment.

Vietnam has been one of the successful attractors of foreign direct investment (FDI) in the world, and is increasingly attractive to international investors due to its improved business climate, young and relatively affordable workforce, vast network of free trade agreements, and strategic location.

Statistics from the Ministry of Planning and Investment showed that total FDI into the country rose by 4.3 per cent on-year to $29.11 billion in the first 10 months of 2019. Among the top foreign investors in Vietnam, the world’s largest economies have all expressed plans to expand to and in Vietnam.

FDI has contributed greatly to Vietnam’s socio-economic development over the past years. However, there are a number of issues that should be dealt with to increase the quality and sustainability of FDI flows. To increase the quality of FDI towards sustainable development, Vietnam should look into some important factors. Tendering should be opened for most important projects, and the government should be careful before granting government guarantee undertakings (GGU). Investors that had been given investment certificates without tender and received GGU usually have fewer incentives to perform efficiently, while other – more capable – investors may have missed the window to submit their bids due to a lack information or time to submit dossiers.

Vietnam’s trade missions, as well as Vietnamese businesses, should make more trips abroad and open representative offices overseas to approach the best foreign investors rather than receiving investment applications from intermediaries.

The Vietnamese government should give more time for international bidders to study the projects and submit the most efficient option. For international lenders, a strong local investor, steady cashflows from the project, and free conversion rights are more important than the GGU.

Two key factors for sustainable investment are logistics (sea, air, and road transportation) and renewable energy. Vietnam has drawn a strong growth of investment in the north with tumultuous road and port infrastructure projects. It should do the same to the south and the central regions, by adopting a private public partnership (PPP) law that would be attractive enough for foreign investors. The fields that would be most efficient for PPP are roads, seaports, airports, and hospitals because currently they lack steady cashflows – unlike the power sector or grid projects. As a matter of fact, Vietnam has just received an extra 4GW of solar power by June 2019.

To make PPP viable for private investors, it is necessary to provide a steady cashflow to cover financial debts. That means risk sharing or minimum revenue guarantee schemes for road developers, at least in the first five years.

To do so, the country should use reputable international advisors to assess the financial costs and expected revenues of the bidders, and the Ministry of Finance should establish a viable gap fund to fill in revenue shortcomings for the purpose of financial debts repayment.

To avoid future projects ailing from sluggish progress and mounting capital costs, Vietnam would need to use qualified international experts from the Organisation for Economic and Cooperation Development (OECD) countries in supervising foreign contractors. Apart from engineering consultants, the country will also need lawyers that have extensive experience dealing with foreign counterparts.

Finally, Vietnam needs to be mindful of technology development trends like fintech sandbox and renewable energy. For example, nowadays, the cost of wind power in the United Kingdom could be even lower than that of coal, and a sandbox to test fintech solutions will provide more benefits and efficiencies to Vietnamese consumers. These points will bring sustainability to Vietnam.


Finding a way for sustainable FDI attraction

After Trump Rebuke, Vietnam Scrambles to Avoid US Trade Dispute

TAIPEI, TAIWAN – The U.S. government agreed this week to give another coast guard vessel to Vietnam so the Southeast Asian country can increase its defense against China. But behind that move, Vietnam and the United States are struggling over a growing trade deficit that has alarmed U.S. officials.

The U.S. government has complained since June that Americans buy more Vietnamese-produced goods compared to what Vietnamese consumers take from the United States.

Vietnam relies heavily on export manufacturing for its economic growth of more than 6% per year. The deficit reached about $40 billion in 2018, which the U.S. Census Bureau calls the fifth largest between the United States and another country.

The diversion of export manufacturing from China, now saddled by U.S. tariffs, to Vietnam particularly alarms Washington, analysts say.

“The concern from the Vietnamese side is that the U.S. could say, ‘OK, we’re going to put tariffs on exports from Vietnam.’ That’s the fear,” said Rajiv Biswas, Asia-Pacific chief economist at market research firm IHS Markit.

“But I think they could avoid that kind of risk by undertaking some substantial purchases of big-ticket capital goods from the U.S.,” he said.

Vietnamese leaders are looking for ways to satisfy the U.S. government and avoid another protracted dispute such as the one Trump launched against China in early 2018, country analysts say.

US warnings

Trump called Vietnam “almost the single worst abuser of everybody” in a comment to the U.S. cable news network Fox News in June. A month later U.S. Trade Representative Robert Lighthizer told a Senate committee that Vietnam must take action to reduce the deficit and open its market to more American imports or services.

In some respects, Washington’s trade dispute with China has been a boon for Vietnam. To avoid tariffs covering $550 billion worth of Chinese goods, some multinationals have moved exports from China to Vietnam for re-labeling as “made in Vietnam,” possibly after just slight changes to the merchandise itself, analysts in the country told VOA earlier this year. Those goods would reach the United States tariff free.

The trade deficit has grown steadily since 2000, said Frederick Burke, partner with the law firm Baker McKenzie in Ho Chi Minh City.

Over the past two decades Vietnam has become an export manufacturing powerhouse now seen as a cheaper alternative to factory production in neighboring China. Vietnam’s membership in the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership trade bloc also allows liberal trade with Japan, Canada and other developed countries.

“The U.S. is really pressuring them to do something about the trade surplus,” Burke said. “Without the (trade partnership), the U.S. doesn’t have the reverse market entry traction into Vietnam that it should have.”

Action by Vietnam

Vietnamese officials will probably respond to U.S. pressure by buying more American goods, Biswas said.

Officials in Vietnam have pledged already to import more American coal, natural gas and farm products, news reports from Hanoi say. U.S. officials would particularly welcome purchases of pricey patrol boats, defense hardware, commercial aircraft and construction equipment, Biswas said.

Those purchases would improve relations fast because the two sides already enjoy strong “strategic” ties, Biswas said. Despite the U.S. role in the Vietnam War, Hanoi now looks to Washington as ally in resisting China’s expansion into a sea where the two Asian countries make claims to overlapping waters.

Defense Secretary Mark Esper said in a speech during his Nov. 20-21 Vietnam visit that the U.S. government would offer the coast guard vessel.

To stop the diversion of “Made in China” goods, Vietnam’s Ministry of Industry and Trade decided in June after a five-month review to impose anti-dumping tariffs on certain items from China that were getting around the U.S. tariffs.

“If they are seen as really slack and just an entrepot for the Chinese goods, they could get slammed,” said Adam McCarty, chief economist with Mekong Economics in Hanoi.

To ease U.S. pressure on trade, he said, Vietnam has “got to really pursue it, make it a public issue, have a state department or whoever involved to see that they’re working with them at least through the official system.”

US imports from China shrank more than 13% — but imports from Vietnam are popping

Nobody expects Vietnam to replace China as the world’s major exporter, but the Southeast Asian country certainly appears to be taking some of China’s business with the United States.

In the first nine months of this year, U.S. imports from Vietnam jumped 34.8% year on year, accelerating from a 5.8% gain in all of 2018, according to a Thursday note by consultancy IHS Markit. In comparison, U.S. imports from mainland China shrank 13.4% year on year in the January-to-September period, the note said.

Tariffs were a major reason behind the decline in U.S. imports from China, said Michael Ryan, IHS Markit’s associate director of comparative industry service, who wrote the note.

He added that Vietnam’s fastest growing export categories to the U.S. are computers, telephone equipment and other machinery.

Those products were among the U.S.’s top imports from mainland China, Mongolia and Taiwan in 2018, according to the United States Trade Representative. That suggests that Vietnamese exports of those goods to the U.S. may have replaced the reduction in flows between China and America.

Challenges for Vietnam

Vietnam is often named as one of the largest beneficiary of the trade war because of an increase in its exports to the U.S. In addition, Southeast Asian country has seen a jump in foreign direct investments from manufacturers looking to circumvent elevated tariffs between the U.S. and China.

But the U.S. has not invested in Vietnam in a big way, noted Ryan. He pointed out that American investments into Vietnam only accounts for 2.7% of total FDI the Southeast Asian country received.

One reason is the U.S. doesn’t have a free trade agreement with Vietnam and the broader Association of Southeast Asian Nations, according to the IHS Markit report. But that’s just “one of many factors tempering the pace and magnitude of supply-chain diversification” into Vietnam, Ryan said.

Vietnam is also faced with a shortage in skilled labor, he said. The country’s talent pool has not been able to support the influx of inquiries, as many multinational companies are looking to relocate parts of their manufacturing supply chain outside of China, he explained.

“Simply, demand is outpacing the current ability to supply,” he said, adding that infrastructure in Vietnam is not yet up to standards for many international firms to establish shops.

Specifically, that means finding local business partners and fulfilling government requirements to obtain permits could be major obstacles for foreign companies, according to Ryan. In addition, Vietnamese roads were poorly built and ports are already congested, which add to the time needed to travel and move goods around, he said.

“Taken in combination, these factors are lengthening the delivery cycle to consumers and point to a drawn-out process of extricating operations from mainland China’s orbit,” said Ryan.

US imports from China shrank more than 13% — but imports from Vietnam are popping

From Hanoi to Halifax, everyone is worried about China

As Washington sat entranced this week watching the impeachment hearings of President Trump, his defense secretary, Mark T. Esper, crisscrossed Southeast Asia, conducting a seemingly endless string of diplomatic engagements barely noticed back at home. But there was one common thread throughout it all: rising concern about how to handle an increasingly aggressive and powerful China.

Esper’s trip was meant to demonstrate the United States’ commitment to the Indo-Pacific region and included stops in South Korea, Thailand, the Philippines and Vietnam. Often calling out China by name, he hammered home his theme of preserving a rules-based order that protects big and small countries alike from bullying and coercion. At the last stop here in Hanoi, Esper said he heard a common note during all of his meetings.

“Within ASEAN countries, all of them are all concerned about China,” he said of the Association of Southeast Asian Nations. “The fear is real. The want and need for leadership and action is real. And we are committed to providing that, because there’s a recognition that China is becoming more aggressive, their claims are becoming more excessive and they are going to throw their weight around in the region.”

At a meeting of defense ministers in Bangkok, Esper said smaller Asian countries were often too intimidated to publicly point fingers at Beijing but nevertheless called for more U.S. presence, involvement and attention in the region to counter rising Chinese influence. “And in many ways, that’s our duty, to call out China by name and to make clear we are going to stand up to them,” Esper said.

Of course, all Asian countries have different relationships with China, and some are less enthusiastic about the Trump administration confronting Beijing. To be sure, the United States’ commitment to the Indo-Pacific remains unclear. Beyond rhetorical support, Esper had little new to offer those Asian countries that do want to push back against China’s worst behavior.

And while there’s a consensus in Washington that more must be done to compete with China — especially in Asia — there’s no clear plan. There’s no clarity on how to marshal resources, what trade-offs will be needed and how we will bring others along. In short, there is no strategy.

This weekend, the Halifax International Security Forum will convene in Canada to kick off a new effort to fill that gap. Trump’s new national security adviser, Robert C. O’Brien, will be in attendance. Halifax Forum President Peter Van Praagh told me the effort will focus on how democracies can come together to confront a rising authoritarian China.

“It is no longer a secret that Xi Jinping’s China wants to make the world safe for authoritarianism,” he said. “We need a comprehensive strategy for the United States and its allies that makes the world safe for democracy.”

The Halifax Forum was co-founded by the late, great Sen. John McCain, who believed that a community of democracies was needed to defend the rights of not only Americans but also people throughout the world struggling for dignity and freedom against dictatorships like the one presided over by the Chinese Communist Party.

The forum is only the latest organization to create a project to figure out what we should do about China, but its emphasis on democracies working together represents the essence of McCain’s worldview. The idea that upholding our values strengthens our ability to promote our interests is what’s missing from the Trump administration’s approach.

“There is an increasing feeling across the Western world that we have lost our way, that we no longer have clarity about what it is that we stand for,” said Van Praagh.

As Esper toured Hanoi this week, remembrances of McCain were everywhere. At the Vietnamese Defense Ministry, a photo gallery celebrated American officials — including McCain, who had visited Hanoi after the war to help repair relations. Esper toured the Hanoi Hilton, the prison where McCain and several other American pilots suffered years of torture. Here, too, the Vietnamese prominently display photos of McCain returning to make friends with his former enemy.

Esper knew McCain when he was a senior staffer for another Vietnam veteran senator, Chuck Hagel. His view of Vietnam was shaped by these two men as well as his uncle, George Esper, an Associated Press correspondent in Vietnam during and after the war. Mark Esper said he believed the Vietnamese people’s desire for healing and friendship was genuine and their resolve to remain independent of Chinese domination was firm.

The strategic challenge of a rising China will be the defining test of our time. It will require both cooperation within the community of free nations and — whenever possible — working with not-yet-free countries that face the same threat. What everyone from Hanoi to Halifax can agree on is that there is no time to lose.

Vietjet Air Wins Best Ultra Low Cost Airline Award For 2019

VietJet Air has again taken out the Best Ultra Low-Cost Airline for 2019 with its wonderful cabin crew and ultra-low prices.

Since launching in December 2011, the airline has grown its fleet and subsequently its number of destinations opening up travel to all including those that perhaps couldn’t afford air travel before. Editor-in-Chief Geoffrey Thomas commented that the airline is “extremely clever in its marketing but behind that fun is a very smart and serious business plan that brings affordable travel to millions.”

It was the first private airline in Vietnam to offer domestic and international services. The ultra low cost airline has carried more than 80 million passengers and covered over 116 routes across the Asia Pacific region. 

Vietjet has been awarded the highest ranking for safety with 7-stars since 2018. It is a member of the International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate and technical reliability rate standing at 99.64%. Editor-in-Chief Geoffrey Thomas said: Vietjet Air has become an important part of Asia’s way of life bringing affordable fares to millions.” 

“The airline has a very modern fleet of Airbus aircraft and operationally is now up there with the very best.” 

“That is great news for the travelling public and tourists in the region,” said Mr Thomas. 

The airline’s multinational the cabin crew take safety seriously focusing on seat belts and exits being kept clear. 

Vietjet Air operates a fleet of A320s in a 3-3 configuration with black leather seats. The airline distinguishes itself with a good combination of affordable ticket fares, which are suitable to the mass flyers plus diversified services and personalized options for busy and highly-demanded passengers from all walk of life. 

Skyboss service is one of themwhich offers its flyers with priority check-in, private boarding/disembarkation, 30-kg check-in luggage, free golf kit handling, VIP lounge and free flow of foods and beverages served onboard, etc. 

Also, for a small fee, you can select quiet seats up the front or exit rows. Also, windows and aisle seats attract a small premium.  

Blankets, pillows, gifts, and gimmicks can be purchased on board. 

Currently, the ultra low cost airline operates a route network covering destinations nation-wide and more than 40 regional destinations in Thailand, Singapore, South Korea, Taiwan, Malaysia, China, Japan, Hong KongMyanmar, Cambodia and Indonesia. It is operating a fleet of A320s and A321s with an average age of 3.3 years old. 

The airline was named as one of the Top 500 Brands in Asia 2016-2017 and “The Best Asian Low-Cost Carrier” at the TTG Travel Awards 2015, “The most favourite carrier in Vietnam” by the Economic Times. The carrier was also awarded “Vietnam’s best place to work” in consecutive years and “the Best Employer Brand Asia Awards 2016” 



Where to Find Working Women? Vietnam

Phuong Uyen Tran is an experienced businesswoman. For more than 15 years, she has worked at THP Beverage Group, a private company that makes health drinks. Today, she is the deputy CEO, the second in company leadership.

Tran is a professional success. But top female business leaders like Tran are not so unusual in Vietnam. She says when she goes to meetings, three or four out of ten of the other people in the room are also women.

A 2019 study supported Tran’s observation. The report, called Women in Business, found that women hold 36 percent of top management positions in Vietnamese businesses. Only the Philippines had a higher rate at 37.5 percent.

In addition, Vietnam has the highest rates of women entrepreneurs in Asia-Pacific countries. Recent studies have found that women own between 25 and 30 percent of businesses in the country.

Why Vietnam?

Tran gives several reasons for the high number of women in business in Vietnam. People in Vietnam are starting to accept the idea of women working, she says. And women add value to companies.

She says that her company found that women workers were more loyal than men and stayed longer in their jobs. They also give special attention to human relationships, she said.

She adds that for herself, she feels lucky. Her parents started the business in 1994. Her father is the CEO. Tran notes that she began in an entry-level position and worked her way up.

Tran says she sees younger Vietnamese women share her feelings of energy and interest in their work. “They really like to try to prove and try to express themselves,” she says. And between girls and boys in Vietnam, she believes, the girls are more aggressive.

Tu Thu Hien is an expert on women-owned businesses. She leads the Women’s Initiative for Start-ups and Entrepreneurship in Vietnam. Tu told the Vietnam News Agency in 2017 that women business leaders have certain strengths. Women-led businesses in the country are more likely to employ female workers, for example. They also spend more money on social insurance and pay a little bit more money in taxes to the government.

Tu added that farming and tourism are promising areas for women-owned businesses in Vietnam.

Vietnamese women have also succeeded in running large, international businesses. The companies Vietjet, TH True Milk, and Vinamilk are all headed by women.

Tran, the deputy CEO of THP Beverage Group, urges women to find ways to work with other professionals, including men. Leaders need results, she notes. If women and men share their strengths with each other, both can go farther.

I’m Kelly Jean Kelly.

Kelly Jean Kelly wrote this story for Learning English. Caty Weaver was the editor.

Where to Find Working Women? Vietnam

Sustainable infrastructure investment speeds up growth in Vietnam

HCM City (VNS/VNA) Sustainable infrastructure investments are becoming the norm and enabling stable economic and social growth in Vietnam, Nirukt Sapru, CEO, Vietnam and ASEAN & South Asia Cluster Markets at Standard Chartered Bank, said at a recent conference in Ho Chi Minh City.

Water, energy, transport and digital infrastructure are key sectors that are immediate priorities, he said.

Sustained availability of clean water, for example, is a concern in the Mekong Basin, he said, adding that financing opportunities exist in water management infrastructure.

The Vietnamese government targets all residents in urban areas to have access to 120 litres of clean water per person per day by 2025, according to Sapru.

“Nearly 3.3 billion USD for infrastructure improvement and 6.9 billion USD for urban waste water treatment plants will be required,” he said. “Financing for water resource management is insufficient. High levels of government subsidies are required, which increases the cost of such projects and reduces financing opportunities.”

In the transport sector, 29 rail projects are in the pipeline. Roads are the dominant means for freight transport, but there is limited capacity in the country, as well as a lack of sustainable financing for such projects, according to the CEO.

Ports are mainly owned and operated by the Government, with port expansions in the north and south being promoted.

He said the Government could encourage private financing of ports by providing support infrastructure.

“We need to think beyond traditional financing for such sustainable infrastructure investment. Clear and consistent policy and regulations are critical to enabling investment infrastructure,” he added.

Dr Ngo Viet Nam Son, President of NgoViet Architects & Planners, said the Government should call on private investment in the development of smart cities.

Speaking about the construction sector, Philippe Richart, general director of INSEE Vietnam, said: “The industry along the entire value chain has vast potential for improving productivity and efficiency thanks to digitalisation and new construction techniques.”

Construction is a key industry around the world and a growing and dynamic sector, especially in Asia. Around 10 trillion USD a year is spent on buildings or infrastructure which are the backbone of the global economy.

However, while other sectors have undergone tremendous changes over the last few decades, through improved process and product innovations, productivity in construction has barely increased at all. This not only represents a lost opportunity for the industry but also a cost for the world economy, according to a press release from organiser INSEE Vietnam.

The Large Infrastructure Project Conference 2019 “Rethinking Construction” was organised by INSEE Vietnam, an affiliate of Jardines, in partnership with SIKA, DOKA and LILAMA, and in association with the Vietnam Institute of Building Materials, Vietnam Green Building Council, the British Business Association and the Hong Kong Business Association.

At the conference, government authorities, representatives of construction industries, developers, designers, contractors and suppliers shared new ideas about how to build better cities./.

Sustainable infrastructure investment speeds up growth in Vietnam

Plastics & Rubber Vietnam is on horizon

Amidst the positive economic outlook and strong demand in the plastics and rubber sectors in northern Vietnam, the international plastics and rubber technologies and materials exhibition Plastics & Rubber Vietnam this year will be held in Hanoi for the first time between November 27 and 29 at the International Center for Exhibition.

Over the last decade, plastics manufacturing has cemented itself as a key supporting industry in Vietnam, with an average growth rate of 15-20 per cent annually. This is attributed to the consistent surge in domestic packaging (FMCG) consumption and industrial manufacturing from foreign direct investment. In 2020, Vietnam’s plastics export demand is expected to boom and account for $4.3 billion.

The rubber industry is also full of potential. Vietnam contributes to the growth of the world industrial network, in which the rubber manufacturing industry is expected to reach $300 million, and is one of the three highest rubber exporting countries in the world. The rubber manufacturing industry will receive a lot of government support to upgrade and improve technologies and install modern equipment dedicated to rubber processing.

For its very first appearance in Hanoi, Plastics & Rubber Vietnam presents a top-notch list of products and technologies on 4,300 square metres of exhibition area. The show has also attracted more than 200 exhibitors from 24 countries and regions and the participation of eight international group pavilions from great markets such as Taiwan, Germany, Korea, Singapore, China, Qatar, Australia, and Italy.

The three-day exhibition will present a comprehensive showcase of technology and solutions for the FMCG packaging, films and sheets, pipes and fittings, as well as building and construction, automotive and transportation, electronics, furniture, and household sectors.

Within the framework of the programme, the international conference titled Circular Economy – Formula for the Plastic Industry’s Sustainable Development will update Vietnamese plastics enterprises on the global picture of plastics recycling that is putting the circular economy model at the core. Besides, the conference will draw up a roadmap and solutions for Vietnamese SMEs to gain access to the circular economy model. The conference, which is co-organised by Informa Markets in Vietnam and Revival Waste, will open from 8:00 to 12:00 on November 28, 2019 at the International Center for Exhibition (I.C.E Hanoi).

Backed by support from numerous government agencies and industry associations, Plastics & Rubber Vietnam aims to increase the service offerings to industry professionals in the northern region. The exhibition promises visitors and attendees a comprehensive range of plastics and rubber products and services, state-of-the-art technologies, integrated solutions, parts, components, as well as materials and supplements.

By Thanh Van

Plastics & Rubber Vietnam is on horizon