Vietnam expects USD1 billion from cement export

Photo for illustration (Source: baoxaydung.com.vn)

Vietnam could rake in USD1 billion from exporting 20-21 million tonnes of cement and clinker in 2014, up 15 percent in value compared to last year, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18 million tonnes. Major cement companies have reported positive results over the past time, with stable export volumes and … [Read more...]

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Vietnam expects US$1 billion from cement export

Vietnam could rake in US$1 billion from exporting 20-21 million tonnes of cement and clinker in 2014, up 15% in value compared to last year, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18 million tonnes. Major cement companies have reported positive results over the past time, with stable export volumes and many new … [Read more...]

Vietnam expects 1 billion USD from cement export

Vietnam could rake in 1 billion USD from exporting 20-21 million tonnes of cement and clinker in 2014, up 15 percent in value compared to last year, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18 million tonnes. Major cement companies have reported positive results over the past time, with stable export volumes and … [Read more...]

Thai firms spot opportunities in Vietnam

The recent increase in investment flows from Thai enterprises has shown that Vietnam is vital for Thailand's economy, especially after the ASEAN Economic Community comes into effect in 2015. Recent information from the Thailand Board of Investment shows that the country's outward investment in ASEAN-member countries has undergone an upward trend since 2007, with last year's investment at 4.5 billion USD, equal to Thailand's investment in the EU. Most of the Thai investment in ASEAN was in … [Read more...]

Economic restructuring brings opportunities to investors

Investment opportunities from the equitisation of state-owned enterprises (SOEs), the acquisition of bad debts and investment in the consumer goods and retail sectors are of great interest to experts and investors in the current context, said the Vietnam Economic News. The Vietnamese securities market is said to offer great potential compared with other Southeast Asian countries and the equitisation of SOEs has attracted great attention from domestic and foreign investment funds. So far, … [Read more...]

Building materials industry urged to foster export activities

The domestic building materials industry should promote efficiency in the export of its products in the future because the domestic market has yet to fully recover from crisis, experts said. The Industry and Trade newspaper quoted the Ministry of Construction (MoC) as saying the export of building materials was needed to reduce the pressure of high inventory, maintain production stability and improve competitiveness in the world market. Leading exporters of building materials in Vietnam are … [Read more...]

Cement consumption bounces back

The domestic consumption of cement in the first eight months bounced back to a sustainable status, which is being seen a relief for producers with surplus inventories. Chairman of Vietnam Cement Association Nguyen Quang Cung told Thoi Bao Ngan Hang (Banking Times) newspaper, "Cement plants are likely to run at full throttle." Chairman of Vietnam Cement Industry Corporation (Vicem) Luong Quang Khai said that his company's inventory has dramatically fallen. As of August 31, the total inventory … [Read more...]

Government praises businesses for cost savings

Vietnam Airlines is one of the companies that were praised for cost savings by the Government.

Deputy Prime Minister Vu Van Ninh on Monday sent a dispatch praising some ministries and state-owned economic groups and corporations for well implementing the Prime Minister's instruction on management cost saving and cost price reduction in 2013. The commended Ministries include Finance, Industry and Trade, National Defense, Transport and Construction. … [Read more...]

Indonesian firms explore M&As

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By Ha Anh … [Read more...]

Social News Headlines 10/7

Vietnam among top five nations with highest abortion rate A July 8 meeting in HCM City marking World Population Day announced that on a per capita basis, Vietnam has one of the five highest abortion rates in the world. Delegates at the event reported that Vietnam has the highest abortion rate in the Southeast Asian region, and its birth rate among adolescents aged 15-19 years is rather high (46/1,000). They pointed out that Ho Chi Minh City has the highest abortion rate in Vietnam, … [Read more...]

State-own enterprises urged to quicken equitisation

Hanoi, July 4 (VNA) - Some 135 State-own enterprises (SOEs) listed in the 2014-2015 equitisation plan are urged to set up their own steering committees to hasten the process of their equitisation. They are expected to declare their asset values by the end of the second quarter in 2015 and have their privatization plans approved by the third quarter of the year. As many as 432 SOEs have been planned for equitisation in 2014 and 2015. By June 20, 38 SOEs were privatized, two dissolved, 15 … [Read more...]

Nghe An cement manufacturer enjoys booming sales

The Vicem Hoang Mai Cement Joint Stock Company has sold 765,600 tonnes of cement on the domestic market since the beginning of 2014, equivalent to 113 percent of the year's plan. The sales of Hoang Mai cement have risen in many localities. The central province of Ha Tinh accounts for 58 percent of the market share of the firm and Nghe An province, 30 percent. The success has been attributed to the manufacturer's efforts in applying advanced technologies in production, adopting innovative … [Read more...]

Building material prices rise as transportation costs more

Vicem workers arrange cement bags. The cement corporation plans to increase prices and reorganise distribution networks to in the face of rising transportation costs. — Photo vicem.vn

HA NOI (Biz Hub) ― Prices of various building materials are increasing due to the rise in the costs of transportation, the Dau tu (Vietnam Investment Review) reported. … [Read more...]

Textiles and cement top export list

illustration photo

Textiles and garments led the field in terms of this year's exports in the first four months. Figures from the Ministry of Industry and Trade (MoIT) showed that Vietnam's four-month export turnover reached $46 billion, up 16.9 per cent on-year. Vietnam's four-month export turnover rose $6.6 billion on-year, of which $4.7 billion - with the exception of crude oil - was created by foreign invested firms. … [Read more...]

Government holds off cement loans on concerns of oversupply

A worker runs a production line at Tan Quang Cement Manufacturing Factory in northern mountainous Tuyen Quang Province. The Government is not encouraging more investment in cement projects despite the industry reporting a first quarter increase in consumption. — VNS Photo Hoang Hung

HA NOI (VNS)— The Government is not encouraging more investment in cement projects despite the industry reporting a first quarter increase in consumption due to higher domestic market demand. Industry observers say this makes sense because the market is still marked by significant oversupply. Citing the Viet Nam Cement Industrial Corporation, the Price Management Department has reported that the output and consumption of cement in March was higher than February as the "construction season" … [Read more...]

SOE Restructuring: Slow Progress, Limited Results

The conference promoting the restructuring of state owned enterprises (SOEs) was organised on April 2, reviewing the restructuring of groups, corporations and banks of the Block of Central Enterprises from 2011 to present, and working out a specific plan for 2015. Speaking at the conference, Nguyen Van Ngoc, Permanent Deputy Secretary of the Block's Party Committee, said that currently, the Party Committee of the Block of Central Enterprises has 32 groups, corporations, and banks. In the period … [Read more...]

Hanoi Electromechanical Manufacturing JSC

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Hanoi Electromechanical Manufacturing JSC (HEM), a member of the Vietnam Electrical Equipment Joint Stock Corporation (VEC), Ministry of Industry and Trade was founded in 1961. Over the years, the company has continually invested in its production facility so it now has six workshops of mechanical engineering, assembling, repairing and manufacturing generators, which are built in an area of 5,000m2 in Tu Liem, Hanoi. All the workshops are equipped with a system of modern production lines … [Read more...]

Cement and steel sales rebound in March

Workers are seen at a building project in Dong Nai Province. The VSA has estimated this year's steel demand at 12.2-12.5 million tons, up only 3-5% over last year - Photo: Van Nam

Van Nam and Chi Thinh According to the Building Materials Department under the Ministry of Construction, cement sales stagnated in the first two months this year but bounced back in March, with nearly 4.7 million tons consumed domestically and 1.7 million tons exported. Vietnam Cement Industry Corp., the country's leading market player, sold 1.65 million tons last month, an increase of 20.6% compared to the same period of last year. Overall, the first quarter of this year saw 10.2 … [Read more...]

Vinatex, VNA to equitize in 2014

Garment and textile exports exceed US$ 20 billion in 2013 (Photo: SGGP)

Vietnam National Textile and Garment Group (Vinatex) and Vietnam Airlines (VNA) are expected to equitize this year, according to the Party Committee of the Central Business Sector in Hanoi on April 2. The report was made at a conference to restructure state-owned business by 2015. It was attended by Deputy Prime Minister Vu Van Ninh and Head of the Party Central Committee's Economic Commission Vuong Dinh Hue. … [Read more...]

Oversupply forces domestic cement producers to look abroad

Oversea market is viewed as a potential solution for Vietnamese cement producers as supply still exceeds demand and the domestic market outlook remains grim, industry insiders have said. Hoang Manh Truong, Chairman of the board of the Vissai Ninh Binh Group, said his group boosted cement exports last year, according to the Vietnam Investment Review. The Chairman of Vissai Ninh Binh Group, a big private economic group, with cement production as one of its core businesses also said his … [Read more...]