Solid Waste Management in Vietnam - Market Analysis Published

13 October 2010 Vietnam is currently one of the fastest growing and untapped solid waste management markets in the Asia-Pacific region according to Research and Markets latest report "Vietnam Solid Waste Market Analysis". According to this new research the business and social environment in Vietnam has become favourable for foreign investments owing to the WTO accession and relaxed regulatory policies. This in turn promoted fast industrialization and urbanization. Urban population has risen to 31.7 million and accounted for 37% of the total population in Vietnam in the first half of 2009. The report claims that this trend has intensified in 2010 and the share of urban population further increased which infused municipal solid waste generation growth to reach new height. The backbone of Vietnam's economy are the food and drink, clothing and leather tanning industries, as well as wood and wood products and fabricated metal products, and together represent 65% of all of the country's industrial employment and 57% of all industrial firms. Amid the fast developments in industrial production, the industrial solid waste generation has reached an estimated 5.7 million tons (5.17 million tonnes) in 2010. It is anticipated that the industrial solid waste management market will continue to post phenomenal growth at a CAGR of around 19% during 2011-2014. The government has approved the waste management strategy outlining specific plans to 2025. The plan states that any organization or individual releasing waste that causes pollution must pay for damages. By 2025, the government aims for developments of solid waste recycling plants in all cities, for households to dispose of and treat their waste. In addition, to control pollution, 100% of solid waste from urban areas, as well as both toxic and non-toxic industrial solid waste will be collected and treated. There are also plans for 90% of construction solid waste and rural residential solid waste to be collected and treated. The reports authors say it provides historical, current and future trends of solid waste generation along with potential market for all three prominent sectors - municipal, industrial and rural sectors. In addition, thorough analysis of emerging industry trends and drivers has also been covered to provide a balanced research outlook of concerned market.