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Vietnam's Ministry of Construction said that thanks to the steady growth of exports and the recovery of the domestic economy, the economy is expected to grow by about 5.8% this year and 6.2% next year. Next year, domestic consumption of cement and clinker is expected to reach about 71-73 million tons, with a year-on-year growth rate of 4-7%. Among them, the consumption of the domestic market will reach about 5200-53 million tons, and the rest of the cement will be exported.
At present, Vietnam's cement market is in a balanced situation of supply and demand, with 74 cement production lines and an annual cement production capacity of 77 million tons.
Vietnam's Ministry of Construction asked relevant agencies to review the investment and construction process of cement plants, and also instructed cement producers to reduce costs and simplify the trading network to promote the growth of cement consumption.
In the first 10 months of this year, sales of cement and clinker reached 56.54 million metric tons, in line with the cement industry's annual target of 88.2%.
The Ministry of Construction also expects total cement consumption to rise 3% year-on-year to 68 million tons this year. Among them, the consumption of cement in the domestic market is about 49 million tons.
According to the Vietnam Cement Association, the export profit of cement will reach US $1 billion this year, the export volume of cement and clinker will reach 20-21 million tons, and the total export value will increase by 15% year on year.
Data from the General Administration of Customs show that the total shipment of cement and clinker increased to nearly 18 million tons in the first 10 months of this year.
Vicem, which accounts for 34% of the country's cement exports, exported about 1.8 million tons of cement and clinker in the first three quarters of this year and plans to export more than 1 million tons in the fourth quarter of this year, said Tran Viet Thang, director general of Vicem.
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