Vietnam's packaging industry aims for sustainable development

VCN - Despite its fairly high and stable growth rate current, Vietnam's packaging industry also faces challenges in meeting the requirements of a sustainable economy. Mr. Nguyen Ngoc Sang, Chairman of the Vietnam Packaging Association, had a discussion with Customs Magazine about this issue.
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Mr. Nguyen Ngoc Sang, Chairman of Vietnam Packaging Association.
Mr. Nguyen Ngoc Sang, Chairman of Vietnam Packaging Association.

How do you evaluate the development potential of Vietnam's packaging industry today?

Packaging products are rich in types, designs and various in packaging materials, which are basically originated from plastic, paper, metal, glass, etc. The packaging industry plays an increasingly important and highly appreciated role. This is a supporting industry, aimed at protecting and preserving the products and goods inside. Therefore, economic development leads to the development of the packaging industry; conversely, the development of the packaging industry will increase the value of goods.

According to statistics from the Vietnam Packaging Association, of 14,000 current packaging businesses, 4,500 specialize in paper packaging products and about 9,200 are in plastic ones. In general, Vietnam's packaging industry recorded a fairly high and stable growth rate, in the period 2015-2020 with the average growth rate of 13.4%/year.

In recent years, the packaging industry has made many important contributions to the Vietnamese economy. In turn, this industry also benefits greatly from the development of e-commerce and Free Trade Agreements (FTAs) that Vietnam has joined. Vietnam has signed 16 FTAs, is currently negotiating 3 new agreements and has exported to nearly 200 countries and territories around the world. Besides, Vietnam's e-commerce activities, although still in the early stages, maintain a growth rate of over 25% and reach a scale of 25 billion USD. The above factors enable Vietnam's packaging industry to maintain stable growth along with the development of Vietnam's economy in the future. Therefore, the packaging industry is also an attractive industry for investment capital from many countries.

How do Vietnamese packaging industry enterprises need to adapt to the attraction of foreign capital, sir?

Currently, Vietnam's packaging industry is also attracting many investors and trading partners such as the US, Germany, China, Taiwan (China)... FDI enterprises also focus packaging supply chain. Therefore, packaging businesses must produce to meet international standards. Currently, Vietnamese packaging businesses are striving and have achieved many unique achievements. It can be said that 90% of products manufactured in Vietnam use domestically produced packaging.

However, Vietnam's packaging industry also faces many challenges such as acquisition tendency of foreign investors instead of making new investments to quickly penetrate the market. Accordingly, Vietnamese packaging businesses need to increase competitiveness through effective management, implement digital transformation, and build the packaging industry into a green industry that meets the requirements of a sustainable economy.

In order to meet market requirements especially those of difficult ones, what do Vietnamese packaging businesses need to pay attention to, sir?

Firstly, Vietnamese packaging businesses can take fully take advantage of favorable priorities from FTAs to expand the market - one of the businesses' long-term strategies. The position of Vietnamese packaging in the international arena is further consolidated in along with the cooling down of obstacles related to the supply chain and the decline of input raw material costs thanks to lower logistics costs.

However, domestic businesses in need of entering foreign markets need to pay attention to building an effective management system, implementing digital transformation, and applying international quality management systems. Each country may have a specific quality standard system; therefore, there are no other ways but to satisfy specific standard requirements of target markets.

Thank you very much!

By ​​​​​​​Thu Diu/ Thu Phuong

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