Market Trends of Vietnam Waste Management Industry
Vietnam's Rapid Industrialization and Environmental Challenges
Vietnam is witnessing a rapid growth in industrialization. This increase has caused negative impacts on the environment and natural assets. According to the World Bank, from the start of its market transformation, Vietnam emerged as one of the fastest-growing per-capita greenhouse gas emitters. Vietnam Briefing quoted data from the Ministry of Natural Resources and Environment (MoNRE), indicating that the country produces approximately 60,000 tonnes of household waste daily. Most notably, the urban areas of Hanoi and Ho Chi Minh City alone account for a significant portion, generating 7,000 to 9,000 tonnes of trash each, which is projected to increase by 10% to 16% by next year. This increase in waste production fuels the country's requirement for an effective and efficient waste management procedure.
Vietnam's Industrial Growth Drives Urgent Need for Waste Management Solutions
The current status of waste management in Vietnam presents significant challenges due to the vast amount of waste generated daily by industries. Vietnam's industrial production is expected to continue on a positive trend, with the industrial production index (IIP) estimated to rise in the current year compared to the previous year. Last year, the demand for essential industrial products increased sharply over the preceding period. These products include sugar, fertilizer, gasoline and oil, television, chemical paint, clothing, and rolled steel. All these products produce many by-products as waste, which should be managed properly. The need for waste management increases due to increased production of such products.
