Experts point out that Vietnam's plastics industry is growing in the group of countries with the best plastic resin growth in the world, dominating the domestic market and stepping up exports. However, the biggest challenge for the plastics industry in Vietnam is the current low capacity compared to plastics industry in countries around the world and in the region. Imported materials up to 85%, equipment and moulds must be imported, technicians and skilled workers are lacking. In particular, the application of science and technology in production and business of enterprises are still limited. 

In the coming time, it is expected that the plastics industry will continue to have a high growth rate in terms of revenue and profit, with many opportunities to continue to grow, but also to diversify. Enterprises with the right strategy, investment in improving the science and technology and product segment with high competitiveness will exist, reverse technology enterprises will be difficult to compete.

Mr. Pham Ngoc Minh, Deputy head of the representative office of the Ministry of Science and Technology in Ho Chi Minh City said that most enterprises have not paid much attention to research and develope technology, product and service to improve productivity, quality and business efficiency. In addition, high quality human resources with the ability to own science and technology in enterprises is very low, accounting for only 7.25% of the labor force. This is one of the factors that reduce the competitiveness of the business.

Currently, most of our businesses are using backward technology from 2 to 3 generations compared to the world average. Machinery and equipment used in enterprises are only 10% modern, 38% medium, 52% are backward; Only 2% of new high technology utilization rates (31% in Thailand, 51% in Malaysia and 73% in Singapore). Therefore, in the coming time, enterprises need to enhance the application of science and technology into production and business so as to ensure sustainable development and suit the process of international economic integration.

Source: petrotimes