According to Vietnam’s paper industry, its domestic paper industry has achieved good growth in the past five years. It is expected that driven by the demand for toilet paper and packaging paper, this momentum will be maintained by 2025.

Vietnam has successfully become an exporter of various kinds of paper, especially packaging paper, from a country with import demand. During 2015-2020, exports will grow by more than 65% annually. Hoang Trung Son, Vice Chairman of Vietnam Paper and Pulp Association, said

According to the data of authoritative institutions, Vietnam’s export volume in the first seven months of this year was 1.13 billion US dollars, up 21.6% year on year. Among them, the United States, China, Cambodia and Indonesia are the largest markets.

In the past 10 years, the economy has faced many difficulties. Geopolitical tensions and the COVID-19 pandemic have disrupted the supply chain and caused high inflation, but Vietnam’s economy is still developing well, including the paper industry. The output of the paper industry has increased by more than 25% every year.

Son said that it is understood that Vietnam has established many factories with an annual capacity of 100000 to 150000 tons in 2020 and 2021, totaling 2 million tons each year. By the end of 2023, this quantity will increase by another 1 million tons. Foreign enterprises have also increased their investment in the paper industry to develop the domestic market and export potential.

Son firmly believes that due to the global economic recession and fierce competition at home and abroad, enterprises are expected to face difficulties this year, but their long-term prospects are bright.

Investing in paper industry is a long-term process, which will take 5 to 10 years, even 20 years.

50% of the raw materials used in the carton industry are imported. The industry focuses on green development because it follows a circular economy. Its basic raw materials come from renewable plantations and waste paper.

In developed countries, more than 70% of paper is recycled. In Vietnam, the proportion is close to 50%. Son said Vietnam’s paper industry is working hard to increase this figure.