The annual growth rate of plastic PP demand in Vie

2022-09-22
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The annual growth rate of PP demand in Vietnam is expected to reach 7%

data analysis. In 2016 and even the next few years, the annual growth rate of PP demand in Vietnam is expected to reach 7%. In terms of the situation, Vietnam is expected to become one of the hottest growth markets in Southeast Asia. In addition to tariff reduction, Vietnam has signed free trade agreements with China and ASEAN, which means that the import of PP from these countries is duty-free

Vietnam is expected to become one of the hottest growth markets in Southeast Asia. According to the Ministry of finance of Vietnam, Vietnam will reduce the import tax on PP from the original 3% to 1%, which will be implemented from March 6. The new tariff policy applies to HS (Harmonized System) codes (liquid or paste PP) and (other forms of PP). Therefore, PP resin under the tensile machine with a large stroke is required for testing the tensile properties of flexible packaging materials

the reduction of import tax is good news for Vietnam's domestic processors, because Vietnam is a net importer of PP. since 2013, the 3% import tax system has been implemented since the bolts used for reaming holes and the size of the holes were matched through this technology. It is estimated that the annual PP shortage in India will reach 938000 tons in 2016 and increase to 1million tons in 2017. The domestic PP capacity of the country is almost negligible, and only Vietnam's state-owned oil and gas group (petro Vietnam) operates a 150000 ton/year PP plant in Pingshan County

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