To support its domestic cement industry, Vietnam’s government is considering a reduction of export duties on clinker, according to the official news website Baochinhphu.
The country’s Prime Minister, Pham Minh Chinh, has instructed the Ministry of Finance to review a proposal by the Ministry of Construction to lower the clinker export duty, with a decision expected by 25 February.
The Construction Ministry has highlighted that cement producers are facing financial losses and potential shutdowns as a result of weak domestic demand. Vietnam’s total production capacity currently stands at 122.34Mt but consumption in the country reached only 95Mt in 2024. As a result, capacity utilisation rates are at 77 per cent and 34 production lines have been temporarily shut down for up to six months.
The Government has instructed ministries and provincial authorities to implement measures to support cement and steel producers, following Directive No 28 issued on 26 August 2024, reports Viet Nam News.
