Vietnam’s cement export volume in the year ahead will remain stable, although export growth is not projected to see vigorous growth similar to 2020 as a result of the Chinese market enjoying a gradual stable supply, according to insiders. While domestic demand for cement in 2021 is forecast to increase due to increased public investment, the export segment is largely anticipated to enjoy no breakthrough due to low demand from importing countries. With regard to growth prospects for the local cement industry ahead in 2021 as provided by SSI Research, the demand for cement consumption amid the domestic market is anticipated to reach a growth rate of between 5% and 7%. This increase in consumption demand can largely be attributed to investment in infrastructure and FDI inflows into the country, in addition to the recovery of real estate construction through major infrastructure projects being implemented, including the North-South expressway project and the Long Thanh airport project. According to figures released by the Vietnam Cement Association, despite recording a low growth rate in the local market due to the impact of the novel coronavirus (COVID-19) pandemic during 2020, the Vietnamese cement industry enjoyed robust growth in terms of export volume during the… Read full this story
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