Vietnam needs around VND 175,000 billion to develop the domestic plastic sector in the 2011-2020 period, according to the Ministry of Industry and Trade.
The money will be used to build factories, expand production, renew technology and develop human resources.
Vietnam is the home to around 1,064 plastic businesses, of which over 80% are located in the Southern part of the country.
Made-in-Vietnam plastic products are present in over 55 countries and territories worldwide with the total estimated trade turnover of around US $1 billion in 2010.
However, the plastic sector is heavily dependent on imported input materials. The country annually has to import some 2.2 million tons of PE, PP, PS and others input materials./.