Saturday, November 9, 2024 11:22:10 PM - Markets closed
VN-INDEX 1,252.56 -7.19/-0.57%
HNX-INDEX 226.88 -0.61/-0.27%
UPCOM-INDEX 92.15 -0.17/-0.18%
High costs hurdle to recycling in textiles
Vietnam News - 10/11/2023 3:41:00 PM
 (0 ratings. You must sign in to rate.)
 Textile producers see recycling as the go-to solution to the environmental woes in the industry, but they are facing some obstacles to turning waste into value. 
 
Hứa Phú Doãn, Deputy Director of the Việt Nam Waste Recycling Association, underlined several obstacles in the way of producers trying to recycle waste.
 
The first obstacle involves manual sorting, which has significantly driven up the cost of recycling. Another obstacle centres around the lack of systematic sourcing of waste for efficient recycling.
 
Doãn's concern over high recycling costs was shared by Trần Thị Trà My, a presentative from VietKai LTD. She said producers had to import environmentally friendly materials from China because few factories in Việt Nam can produce the materials at low costs.
 
"Lack of cutting-edge technology is the reason behind the cost disadvantage of local recycled materials over those from China," said My.
 
Liên Phương Textile & Garment Corporation (LPTEX) is a producer that has to import recycled fibres from China and recycled wool from Australia for reasons of costs.
 
LPTEX CEO Phoebe Trương said products made completely of recycled polyester normally had lower purity than those made of virgin material. Because of that, the former had been mixed with some virgin material to make a final product acceptable in the market.
 
Recycled material content in the mixture could vary from 30 per cent to 70 per cent depending on customer preference.
 
"Japanese partners often require products with 30 per cent of recycled polyester, whereas European partners ask for 30 per cent of recycled wool.  
 
"If it hadn't been for the preferential tariffs under free trade agreements such as EVFTA and CPTPP, products with recycled material content made by Việt Nam could not have rivalled those by China," said Phoebe Trương.  
 
The CEO also said her company and its Korean suppliers were cooperating to produce fibres that can biodegrade in two to three years. However, they were not sure whether the fibres would gain favour among Vietnamese consumers. 
 
Lê Thị Ngọc Dung, Manager of Á Châu Environment LTD, underlined two factors holding back the recycling industry in Việt Nam. One factor involves the poor understanding of the notion among a large part of producers and consumers; and the other, high recycling costs. 
 
She said Việt Nam had not kept up with the global norms in recycling technology. As a result, few recycled products could be made at low costs in the country. Most of the time, their costs are higher than those of similar products in China and Bangladesh, putting Vietnamese producers at a disadvantage, according to Dung.
 
Vũ Đức Giang, Chairman of the Việt Nam Textile & Apparel Association, said textile producers had begun to use recycled materials in production to answer the green call from foreign importers. Recycled material content in many of their products had soared to 60 per cent.   
 
The Chairman called for favourable policies to help textile producers expand their customer base for products with recycled material content.
 
He also said the association was urging the government to issue guidance on Textiles Strategy Between 2021 and 2035, with reference to which local authorities can develop their masterplan on up-to-environmental-standard industrial zones. — VNS
 
Read original article here
Newer News
10:01 Prices of raw materials surge, led by cocoa with a 6.3% increase
09:55 Dak Lak to carry out reforestation project worth over US$19 million
09:41 Nam Dinh unveils its seventh industrial park
09:37 Hanoi's 10-month export value tops $15.5 billion
09:30 EU is important VN partner for trade, green transformation: forum
08/11 Automotive support industry strives to become spare part supplier
08/11 Vietnam’s auto industry strives to reach global recognition
08/11 Vietnam Air Cargo Day 2024 Forum takes place for the first time in Hanoi
08/11 Bac Giang promotes service development to attract high-quality FDI
07/11 Foreign investment disbursement hits $19.58b in 10 months
Older News
10/10 VN takes drastic measures to speed up public investment disbursement
10/10 Việt Nam's foreign investments surge to $416.8 million in Q3
10/10 EU’s firms rank Việt Nam in top FDI destinations
10/10 Petrovietnam exceeds 9-month targets amid economic challenges
10/10 Việt Nam automobile market slides to fìfth in Southeast Asia
03/10 Việt Nam records $21.68 billion trade surplus in nine months
03/10 Agriculture sector achieves trade surplus of $8b in nine months
03/10 Appropriate use of stabilisation fund important to restrain petroleum prices increases
03/10 Việt Nam’s economic landscape at crossroads: Q3 reports highlight challenges
03/10 Wood exports to the US see bullish trend
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,252.56 -7.19/-0.57%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.