Vietnam’s Ministry of Planning and Investment has proposed the government to reduce export duty on cement to help domestic cement producers to promote exports.
According to the government’s Decree No 100/2016/ND-CP, exported cement products are not eligible to enjoy input value-added tax (VAT).
Furthermore, the product is subject to a five per cent export tax, which has lifted export costs to US$4.50/t clinker and US$7.50/t of cement (based on average FOB prices of US$30 and US$50, respectively. This puts Vietnamese cement producers at a competitive disadvantage with rivals from China, Thailand, Indonesia and Japan, said the ministry.
