Vietnam can save US$1B per year by using recycled plastic

Vietnam will likely save nearly US$1 billion per year by using between 35% and 50% of recycled plastic, according to the Vietnam Plastic Association.

The Southeast Asian nation currently spends US$2.5 billion on importing plastic material annually, the association attributed.

Meanwhile, the country has annually collected for recycling only 10% or 20,000 tons out of total annual discharged 200,000 tons of plastic waste, said Le Van Khoa, director of the Ho Chi Minh City Waste Recycling Fund.

Vietnam is estimated to have spent US$2.03 billion on importing plastic in the first seven months of this year, up 38.5% on year, said the government’s General Statistics Office (GSO).

The plastic consumption per capita is expected to rise to 32kg in 2010, up from the current 22kg. the country has so far had nearly 2,000 plastics companies.

Tags: Recycled Plastic, Vietnam plastic industry

Posted by VBN on Aug 1 2010. Filed under Rubber & Plastic. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry