VICEM and two importers: Fenix (ceza) Int’l. Inc and Golden Falcon Trading Corporation signed a deal to export cement and clinker to the Philippines, under the witness of Minister of Construction Nguyen Thanh Nghi.
VICEM currently has 10 factories with 16 production lines. with a total capacity of 21 million tonnes of clinker and over 25 million tonnes of cement per year, accounting for 33% of the domestic market share and about 23% of the export market share.
Vietnam’s cement supply exceeds demand in recent years (about 120.7 million tonnes of output while domestic demand is about 65.5 million tonnes). It is forecast that the supply of cement will still be higher than the domestic demand in 2023 and the following years, so cement production and trading companies always pay great attention to the promotion of cement exports.
The Philippines is a major importer of cement and clinker, about 15 to 17 million tonnes per year, including about seven million tonnes imported from Vietnam. VICEM exports about 1.5 million tonnes of cement and clinker to the Philippines per year, accounting for 21.5% of Vietnam’s cement exports to the country.
The signing of the agreement is expected to help Vietnamese enterprises, to participate more in the Philippines’ construction materials market.
