Cement companies want debt restructuring and interest rate reductions.

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Currently, Vietnam has 61 cement factories with a total capacity of approximately 117 million tons of cement per year. Vietnam's cement production ranks third in the world, after China and India. However, the domestic cement industry is facing significant difficulties due to a large oversupply, with both domestic consumption and exports experiencing slow and sharp declines. To alleviate these difficulties for businesses, the Vietnam Cement Association proposes that the State Bank of Vietnam consider debt restructuring and interest rate reductions for enterprises. Simultaneously, it suggests prioritizing access to working capital loans for cement companies and discouraging foreign investment in cement projects in Vietnam. The Vietnam Cement Association also requests that the Ministry of Finance report to the Government and promptly submit to the National Assembly for approval the abolition of export tax on clinker.

Source: Thanh Hoa News Bulletin, May 5, 2024

Source: https://truyenhinhthanhhoa.vn/doanh-nghiep-xi-mang-muon-duoc-gian-no-giam-lai-suat-180240504231927989.htm