A $4 million investment strengthens plastic recycling infrastructure in Vietnam, supporting sustainability goals and advancing circular economy efforts.
Norfund has contributed USD 4 million to Vietnam’s Circular Plastics Company (CPC) to boost production at its recycling facility near Ho Chi Minh City. The plant specializes in converting used PET plastics into recycled materials for packaging, with an annual output of 31,000 metric tons of recycled PET flakes and 14,000 metric tons of food-grade recycled PET pellets.
Åsmund Aukrust, Norway’s Minister of International Development, highlighted that the investment supports both job creation and efforts to tackle plastic waste. He noted that expanding industrial-scale recycling of food-grade PET in Vietnam helps generate employment while reducing plastic pollution in the region. Vegard Benterud, Investment Director at Norfund, added that CPC has consistently completed its recycling projects on schedule and within budget, and Norfund looks forward to backing further growth in Vietnam.
Norfund, which is fully owned by the Norwegian government, invests in companies across developing nations. Its active portfolio stands at USD 3.8 billion and spans Sub-Saharan Africa, South and Southeast Asia, and Latin America, focusing on sustainable development, employment opportunities, and environmental benefits.