Vietnam: Brokerage company Mirae Asset Securities Vietnam (MASVN) expects cement producers that specialise in exports to switch to the domestic market due to reduced demand in China. The export market to China has slowed down due its Zero-Covid policy and a reduced real estate market, according to the Viet Nam News newspaper. Major local exporters include Vissai Ninh Binh, Hoang Mai and Thanh Thang. China accounted for 40% of Vietnam’s cement exports in 2021. If these companies switch to the local market then it is expected to create more competition for producers that are more domestically aligned, including Vicem Ha Tien, FICO and Holcim Vietnam
Vietnamese cement exporters to focus on domestic market
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