Vietnam’s dragon of growth

Published 29 June 2018

With strong economic growth fuelling infrastructure investment and China importing more clinker than ever, its not hard to see why Vietnam’s cement producers are enjoying a surge in demand. But the industry remains highly-fragmented and needs to tackle its oversupply situation as new mega plants arrive on the scene.

The Vietnamese dragon is a symbol of growth. Last year saw the country report GDP

expansion of 6.8 per cent, the highest rate in the last decade

Last year saw Vietnam’s GDP expand by 6.8 per cent, the highest rate in the last decade. By reducing its reliance on natural resources and shifting its focus to industry, manufacturing and services, Vietnam has cemented its place as one of the strongest-performing Asian economies. Predictions for economic growth in 2018 vary from 6.5 per cent by the World Bank, to 6.6 per cent by the IMF and 7.1 per cent by the Asian Development Bank. Whatever the final figure, this year has made an impressive start with GDP advancing by 7.4 per cent YoY in the first three months, Vietnam’s best first-quarter performance in the last 10 years, according to the country’s General Statistics Office (GSO).

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