November 6, 2018 | KYMC Marketing

VietnamPlas – Market Analysis

The market in Vietnam is growing rapidly, with an estimated population of 96 million and with a median age of 30.9 years old, the country has a bright future in terms of its population. The GDP per capita in 2017 is estimated to be USD2,343 and with a GDP growth rate of 6.8%. with a healthy young workforce population and a healthy growth in GDP the domestic demands for goods and services are expected to rise. Moreover, many MMCs are taking advantage of the young and the relatively cheaper labor in the region to set up their factory site. According to IMF, since accession to the WTO in Jan 2007, the FDI in the region has grown from $2.5bn in 2000-05, to $8.4bn in 2008-14 to $17.5bn in 2017. The manufacturing and real estate sectors received the most pledged foreign funds in recent years, followed by wholesale & retail trade. Japan was the biggest source of investment (27.5 percent), followed by South Korea (23.4 percent) and Singapore (14 percent).

KYMC foresee the market potential in the region, therefore have set up a strong presence in Vietnam by collaborating with Illies: trading house specialized for top-end industrial machinery and technologies.

Currently, rotogravure is the dominant printing process in Vietnam. Flexographic printing process has a minimal presence in the region. During VietnamPlas KYMC targeted the region’s need, educating the people about the pros and cons of the rotogravure process and the flexographic process. At the same time demonstrating our capabilities and experience in helping the printing and packaging companies switch over from rotogravure process to the flexographic process.

VietnamPlas 2018 was held in Ho Chi Minh city. The 18,000sqm exhibition area attracted 520 exhibitors from 19 countries, with over 14,796 visitors. Vietnamese accounted for 82% of the visitors and 18% of the visitors are from overseas.