In the first quarter it enjoyed a drastic year-on-year growth of 35 percent to US$193 million export revenue with packaging accounting for 80 percent of the total.

The industry’s products are available in more than 40 international markets across the world. In addition to the traditional Japan market, Vietnam-made products now have a firm foothold in China, India, the Middle-East, Africa and new European Union members.

The industry has recently decided to make new products such as high quality oil pipes, auto and computer parts which used to be imported from other countries.

However, the Vietnam Plastic Makers Association says it is aware of big challenges ahead with the industry’s strong dependence on imported raw materials. The annual domestic supply of these materials now meets only one-fifth of the estimated 1.5-million-tone demand.

Other disadvantages for enterprises in the industry include a lack of long-term strategies for trade and trademark promotion, little representation in foreign distribution networks and an absence of chain stores in overseas markets.

The Ministry of Industry and Trade has called on domestic enterprises to unite and form an alliance to service large-scale contracts. So far, there are up to 1,400 enterprises operating in the industry, mostly small and medium sized.