HANOI, July 14 (Xinhua) -- Vietnam's cement oversupply will increase in the next few years, reaching dozens of million tons by 2020, the Vietnam National Cement Association said on Friday.
While the Vietnamese cement industry's current production capacity is 86 million tons per year, domestic consumption is estimated at 60 million tons this year.
In the first five months of this year, cement firms in Vietnam exported 8.2 million tons of cement and clinker, said the General Department of Vietnam Customs.
The firms find it hard to boost export of their products, mainly due to their uncompetitive prices and quality, so they need to lower costs through technology innovations and transport rearrangements, said the association.
In 2016, Vietnam exported over 14.7 million tons of cement and clinker, mainly to the Philippines and Bangladesh, down 7.1 percent year-on-year.