The Vietnamese Ministry of Finance has decided to delay the initial plan to raise export duties for steel and cement in an effort to help the sectors.

Steel and cement businesses are struggling with rising input costs and slow sales amid high lending interest rates, the Phap luat Thanh pho Ho Chi Minh newspaper reported Thursday.

Price of building materials including steel and cement are showing signs of declining after surging early this year, leaving many businesses grappling with the increasing inventory.

The decision will facilitate the enterprises to boost exports to partly overcome the difficulties.