In the Asia-Pacific region, Vietnam is currently one of the fastest growing and untapped solid waste management markets. According to a new research report by RNCOS, fast urbanization is proving decisive for the solid waste management sector in Vietnam as over 50% of the country’s urban population now lives in the two biggest cities. The business and social environments have also become favorable for foreign investors which, in turn, will further promote industrialization and urbanization in the country. The unprecedented housing requirements amid the rising urbanization are, thus, resulting in an enormous growth in the municipal solid waste generation.
The report, “Vietnam Solid Waste Market Analysis”, says that the government is striving to prudently manage the housing construction developments for the efficient solid waste treatment execution. With the rapidly increasing demand and huge investments, the housing construction will continue to drive the municipal waste generation in the country, and attract international players to tap the growing opportunities in the waste management sector. The Vietnamese Government has formulated the National Strategy for the solid waste management under which many programs are sought to be implemented for developing the solid waste prevention, reduction, recycling, and reuse solutions, and building urban municipal solid waste treatment facilities in all cities and economic zones.
The comprehensive study, which is an outcome of extensive research and objective analysis of the Vietnamese solid waste management industry, found that it is almost impossible for the government to formulate and develop entire infrastructure needed for the purpose, and thus, higher private sector participation is inevitable. The research work also provides historical, current, and future trends of the solid waste generation in Vietnam, and potential market for all the three prominent sectors- municipal, industrial, and rural. The thorough analysis of emerging industry trends and drivers has been included in the report to provide a balanced research outlook on the market.
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