The Ministry of Construction has required the Vietnam Cement Industry Corporation to develop a ’road map’ for stabilising cement prices, said deputy Minister of Construction Nguyen Tran Nam.
The requirement also calls for a readjustment to current cement prices while also aiming to guarantee stable production and strong development for the country’s cement industry.
In the past, the cement industry faced many difficulties in finding investment capital for large projects.
The industry’s construction investment capital is mostly sourced from high interest rate loans from commercial banks.
In addition, cement production costs have been rising rapidly due to prices surges for input materials including coal, clinker, oil and petroleum.
After the cement group drafts the plan, the ministry will consider the plan before submitting it to the Prime Minister for approval.
Spokesman for the Vietnam Cement Corp Tran Quang Tuan, said the cement price was expected to rise by 15 per cent twice in August and November this year.