Vietnam's technical rubber exports to reach 4 bln USD in 2024

HANOI, Oct. 17 (Xinhua) -- Vietnam's technical rubber product exports are forecast to reach 4 billion U.S. dollars in 2024, helping the country become a global automotive tire manufacturing hub, Vietnam News cited the Ho Chi Minh City Rubber and Plastics Manufacturers Association on Thursday.

Orders for the tire industry in the last months of 2024 have increased by 10-15 percent compared to the beginning of the year, while technical rubber product orders have surged by 20-30 percent, said the report.

Nguyen Quoc Anh, the association's chairman, said Vietnamese rubber and plastics companies were accelerating investments and incorporating recycled materials to improve competitiveness further and foster sustainable development.

Phan Tuan Hung, director of the Department of Legal Affairs, Ministry of Natural Resources and Environment, said "To meet global requirements for plastic products, the Vietnamese plastics and rubber industry needs to seek out new technologies and suitable, environmentally friendly materials to align with the circular economy trend, aiming towards sustainable and eco-friendly plastic products."