The domestic cement industry is expected to recover in 2024, driven by the government's unremitting efforts to accelerate public investments and the implementation of critical transportation infrastructure projects, as well as the approval of many industrial and urban infrastructure projects.
Cement producers are also trying to expand other markets by turning to many countries such as the USA, Australia, North America, South America and Africa to reduce their dependence on China. However, the Vietnam Cement Association said some Vietnamese cement and clinker importers continue to impose policy and technical trade barriers to protect the local cement industry. In particular, the Philippines, the largest importer, will continue to impose temporary anti-dumping duties on Vietnamese cement products. At the same time, strict markets such as Europe have also implemented carbon emission reduction mechanisms. Therefore, the association calls on businesses to promote trade promotion activities to gain more export opportunities. He added that some companies have received export orders to the US, which is a selective market with high standards. This is a positive sign for the industry this year. Trade experts said cement companies should focus on technological innovation, invest in in-depth renovation, use energy efficiently and develop sustainable development solutions to reduce production costs and increase competitiveness in order to achieve increasingly higher environmental protection standards in the international market. Cement producers petitioned the authorities for policies that would support the growth of the sector.