Vietnam is top of the list of potential and attractive locations for investment in Asia. Vietnam joined the World Trade Organization in January 2007 following more than a decade-long negotiation process. Vietnam became an official negotiating partner in the developing Trans-Pacific Partnership trade agreement in 2010.
Agriculture's share of economic output has continued to shrink from about 25% in 2000 to about 22% in 2011, while industry's share increased from 36% to 40% in the same period. GDP has grown at an average of 8%/year in the past five years and is projected to exceed that figure this year.
With this fast economic growth, Vietnam has been targeted for investment in every sector by major foreign companies. There have been about 13.544 licensed foreign investment projects in Vietnam from 1988 to the end of 2010 with total registered capital of US$ 213 billion, implemented capital of US$ 77.95 billion. Increasing foreign investment boosts domestic consumption for all products, resulting in higher demand for petrochemical products.
The Vietnam International Chemical Industry Exhibition was successfully held since 2004 for more than 20 years, sponsored by Vietnam Chemical Corporation, VietFair and CCPIT (China Council for the Promotion of International Trade) Sub-Council of Chemical Industry. After thirteen years of development, it has become the brand of Vietnam Chemical Industry Exhibition, and only chemical professional exhibition in Vietnam. Not only promoting the export of other countries’enterprises but also driving the development of the chemical enterprise of Vietnam, the exhibition promotes the exchanges in the field of Vietnam and other countries related, promote chemical industry trade cooperation.
The 18th Vietnam international chemical industry exhibition had been held on 15-17Nov, 2023, in SECC Ho Chi Minh City. Vietnam's deputy minister of industry, deputy director of the Vietnam plant protection bureau, vice-chairman of Vietnam coating and ink association attended exhibition opening ceremony.