Vietnam’s recycling future looks ‘very bright’

Among the 1100-plus delegates meeting up for the BIR Convention in Abu Dhabi in late October were Anh Tran Thi Van and her son Quang Le Duy of scrap trading company Prima Group in Vietnam. They say the nation’s industry is booming, citing new recycling projects and investments.

Based in Ho Chi Minh City, Prima buys and sells scrap metals, plastics and recovered paper all over the world. The recycler has been in the business for 20 years. It is now ready for a next step, as company founder Tran Thi Van told Recycling International on the sidelines of the Abu Dhabi conference.

In 2024 it will open a 5 000 m2 scrap yard and recycling facility in Ho Chi Minh City, a fast-growing metropolis of 9.3 million people, while a second plant (10 000 m2) is planned a year or so later. ‘Vietnam has been witnessing strong economic growth,’ says the entrepreneur, ‘and scrap demand from local steel mills and smelters has gone up year-on-year.’

Even so, Vietnam’s real estate sector is currently going through a dip, with new construction projects put on hold. Tran Thi Van: ‘Investors are pulling back so fewer hotels, houses and offices are being built. Obviously, this has a negative effect on scrap demand but in the long term I expect things will get better. The future for Vietnam’s recycling sector looks bright.’

Source:  Recycling International