Domestic demand for cement this year was expected to reach 35Mt, a YoY increase of 10 per cent, Vietnam Cement Association chairman Nguyen Van Thien told the 9th Cement Trade Conference yesterday.
"The cement industry is viewed as one of the important industries in building and developing the economy, as well as in the industrialisation and modernisation of Vietnam," Thien told attendees.
"During 2001-05, this industry developed rapidly, with a growth rate of 10.4 per cent."
"2006 was a year of major events in which Viet Nam rose up to another level," said Tong Van Nga, president of the Building Materials Institute, at the opening of the conference.
"Vietnam’s GDP went up 8.2 per cent and FDI reached US$10 billion last year." Nga said. "These were all factors boosting cement industry development. This conference is a good chance for Viet Nam cement to access the global market and to develop more strongly in the future."
Viet Nam was expected to spend over 7 per cent of GDP on infrastruture, and the demand for cement was expected to increase to 50 million tonnes by 2010, Thien said.
By 2010, the cement industry would have a total capacity of about 60 million tonnes and would be able to meet domestic demand, he added.
The growth rate of the cement industry during 2006-10 would be about 11.5 per cent, he predicted. In order to reach the target, the industry would need to promote investment and continue developing and modernising in terms of technology, scope and structure.
Radical and proactive measures would be necessary to protect the environment, he cautioned.
Competitiveness of the domestic cement industry would need to be taken into account right from the outset and would extend to decision on investment rates, profits, production costs and other factors.
Cement Trade 2007 has attracted most of the leading cement makers in the ASEAN region, as well as leading industry experts who contributed many ideas on the development and promotion of competitiveness promotion in the region.