VietnamPlas 2024 Executive Seminar: A strategic conversation for sustainability in the plastic industry

The 22^nd Vietnam International Plastics and Rubber Exhibition took place at the Saigon Exhibition and Convention Centre on October 16-19, featuring nearly 600 exhibitors from 15 markets, with notable pavilions from India, South Korea, China, and Taiwan.

The exhibition served as a comprehensive platform for industry professionals to showcase their innovations, strengthen partnerships, and explore emerging trends.

Vietnam’s plastic exports in the first half of 2024 surged over 32 per cent on-year, reaching $3.15 billion. However, stricter environmental regulations and rising global demand for recycled plastics, especially from the United States and EU, push the industry towards sustainable practices — posing challenges but also creating new opportunities.

“Amid the global shift toward a circular economy, Vietnam is building a domestic plastic recycling industry to create a sustainable supply of recycled materials, aligning with worldwide efforts”, as noted by a representative from the Vietnam Plastics Association.

By focusing on sustainability, the industries are well-positioned to thrive amid global market shifts and contribute meaningfully to Vietnam’s long-term economic prosperity.

A significant feature of the exhibition was an executive seminar on driving sustainability in the plastics and rubber industries via next-gen materials, co-organised by CCX Partners and ChanChao International.

Held on the exhibition floor, the seminar attracted over 50 executives and industry leaders from prominent companies such as Mondelez Vietnam, Stavian, Melchers, Accredo Asia Packaging, Tan Tien Packaging, Rang Dong Long An, and many more.

The event opened with a keynote from Le Anh, sustainability director at DUYTAN Plastic Recycling, highlighting Vietnam's sustainability journey and industry structural shifts in both quality and quantity over the last five years, driven by increased investment and government incentives towards net-zero. “Back in 2010, Vietnam ranked fourth in ocean plastic waste. By 2023, we've moved down to eighth, and with our unwavering commitment, we’re on track to leave the top 10 behind very soon,” Anh remarked.

Photo: CCX Partners

Following up the session, Jonathan Sourintha, owner of TURN GREEN Holding, emphasised the transformative impact of extended producer responsibility (EPR) policies, set to take effect on January 1. He highlighted that early adoption offers businesses long-term benefits, including stronger brand reputation, access to new markets, cost savings and meeting growing consumer demand for sustainable products. For a sustainable future, he urged industry collaboration through strategic partnerships, joint innovation, collective policy advocacy, and advances in technology and enhanced resource efficiency.

A dynamic panel discussion was also hosted by Trang Dao, business development director of Evonik Vietnam LLC, with insights coming from Le Anh of DUYTAN, To Thanh Son, ESG manager of SGS Vietnam Ltd., and Daniel Chan, founder and CEO of Intereras Ltd. The panel explored how digitalisation and sustainability complement each other to advance circularity in plastics and rubber.

Daniel highlighted how data platforms like Intereras enable businesses to gain both macro and micro market insights, empowering data-driven decisions. Le Anh emphasised the role of automation in streamlining production and scaling business models in large enterprises.

The impact of big data and AI in building sustainable and transparent supply chains was suggested by Thanh Son. The consensus was clear: as sustainability accelerates, digital transformation is essential for businesses to shift away from traditional practices and successfully scale sustainable models.

Photo source: CCX Partners

Son continued the discussion with a thorough analysis of the EU’s traceability regulations aligning with global sustainability efforts, which is essential for Vietnam’s exporters. He emphasised the need for a holistic, end-to-end approach to transparency across the entire product lifecycle - from raw materials and production to distribution, consumption, and recycling.

Son outlined a 2024-2030-2050 roadmap targeting five key priorities: reducing plastic consumption, minimising waste, cutting greenhouse gas emissions, meeting climate goals, and implementing traceability technologies. “Transitioning to a circular economy is no longer a choice but a must, we're running out of natural resources,” he stressed.

Vinay Bhardwaj, country head and vice chairman of Indorama Ventures Vietnam, introduced latest innovations in green composite materials, including bio-based PET, recycled PET, natural fiber-reinforced composites (NFRC), and recyclable multilayer composites, highlighting their performance advantages over traditional options.

To meet growing global demand, Vinay outlined five key strategies for scaling production: research and development investment - exploring innovative material combinations, supply chain collaboration – ensuring smooth integration of green materials, leveraging government incentives for sustainable production, educating the market and aligning marketing strategies with sustainability trend, pilot projects – demonstrating feasibility in specific sectors.

The second panel, moderated by Phuong Le, director of Thinh Vuong Plastics, brought together Jonathan Sourintha, Vinay Bhardwaj, and Thong Le, CEO of Lagom Vietnam JSC, to discuss the adoption of bio-based and biodegradable plastics. The panelists agreed that these materials are a critical solution to one of the world's most pressing environmental challenges and represent a major business opportunity for early adopters.

However, they emphasised the need for a well-planned strategy, beginning with downstream considerations, as market conditions differ significantly between regions like Vietnam and Europe. Careful material design is also crucial due to varying compostability standards. The panel identified three core factors businesses must weigh before adopting these biomaterials: cost, scalability, and consumer demand to drive both sustainability and growth.

Photo source: CCX Partners

The seminar concluded with a networking and business-matching session, allowing participants to explore potential partnerships and supplier opportunities. Indorama Ventures, in particular, engaged with top exhibitors from China, Taiwan, and Vietnam to explore sourcing PET, RPET flakes, HDPE, and Masterbatch materials.

Other participants leveraged the platform to connect with potential collaborators and explore business opportunities aligned with sustainability goals.

Phuong Nguyen, representing CCX Partners, highlighted the event’s role in driving plastics sustainability by saying, “CCX and ChanChao International are proud to contribute to the ongoing dialogue and progress in this critical sector. By embracing next-gen materials like recycled plastics, bio-based solutions, and green composites, while promoting digital transformation and regulatory alignment, we are collectively steering the plastics industry towards a greener, more resilient future.”

Vietnam’s plastics market is set to grow from 10.92 million tonnes in 2024 to 16.36 million tonnes by 2029 with a compound annual growth rate of 8.44 per cent, according to Mordor Intelligence.

Seminar held on recycling plastic waste Responding to World Environment Day 2023, the Centre of Natural Resources and Environment Communications, under the Ministry of Natural Resources and Environment, held a seminar on May 18 on policy and technology for recycling plastic scrap to produce recycled PET, while driving the circular economy.

Plastic recycling efforts kick into gear Manufacturers in Vietnam are utilising a variety of strategies in an effort to establish a new lifecycle for products made from recycled plastic waste.

Tourism industry in Hue strives to cut plastic waste Following a year since its implementation, the central province of Thua Thien-Hue's initiative to cut plastic waste in tourism has yielded significant results, enhancing the city's environment to be more green, clean, and appealing for tourists.