The adoption of Extended Producer Responsibility (EPR) regulations mark a pivotal move toward fostering sustainable development in the rubber and plastics industries, experts have said.
The rubber and plastics industries are among the fastest-growing sectors in Vietnam, playing a vital role in the nation’s economic development.
The plastics industry generates approximately US$25bil in annual revenue, maintaining an average growth rate of 10% to 12%.
Meanwhile, the rubber sector has firmly established its presence on the global export map, achieving an annual export turnover of around US$3.5bil.
This strong performance positions Vietnam as one of the world’s leading rubber exporters.
According to the Chairman of the Vietnam Waste Recycling Association, Tran Viet Anh, the plastics and rubber sectors have made significant contributions to the national gross domestic product.
However, now is a crucial time for the industries to move toward a greener, more circular and accountable model of growth.
During a recent workshop in Ho Chi Minh City, Viet Anh said his association was actively promoting plastic and rubber waste collection and recycling through circular economic models.
Source: The Star