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Vietnamese plastics and rubber produce are expected to grow in 2024 due to the purchasing demand

There are more than 1000 extruders in Vietnam that produce construction and technical plastics in the country.

According to the plastic industry development plan of 2020, the plastics industry will be restructured toward reducing the proportion of packaging and consumer plastics and increasing the percentage of the construction and technical plastics segment.

Vietnam’s construction plastics segment accounts for around one-fourth of the total plastics industry. The development of the construction and real estate sector is boosting the demand for plastic construction products.

The Northern region comprises of 25 provinces, with the North Key Economic Zone (NKEZ) making up seven several cities and provinces:
Including Hanoi, Hai Phong, Bac Ninh, Hai Duong, Hung Yen, Vinh Phuc, and Quang Ninh. The area has seen significant development in the past five to 10 years.

Hai Phong Port- The largest port of Vietnam
Hai Phong Port (c?ng H?i Phòng) is a port group in Haiphong City, Vietnam, serving Northern Vietnam and future Kunming-Lao Cai-Hanoi-Haiphong Corridor. This is the leading seaport for northern Vietnam. This port system is under planning to handle ships up to 30,000-40,000 DWT. The new port will be known as Lach Huyen. Its construction will entail the creation of an island linked by a bridge to the mainland. There will be a new bulk terminal and three container terminals.

Hanoi strives to hit a gross regional domestic growth (GRDP) of 6.5-7% in 2024, as the city expects a favorable global context to spur a strong economic rebound.
Vietnam's participation in new-generation trade agreements such as the CPTPP and EU-Vietnam Free Trade Agreement (EVFTA) will be an important factor to promote the country's trade and investment.

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