In Official Letter 06/BXD-VLXD released on 5 January 2010, the Ministry of Construction ("MOC") requested provincial people's committees to suspend investment registration for cement projects from now until 2020.
As at the end of 2009, investment in 97 cement production lines had been completed and operation commenced with a total design output of 57.4 million tonnes.
Pursuant to the master plan for development of Vietnam's cement industry until 2010 with orientation to 2020 as approved by the Prime Minister of the Government in Decision 108/QD-TTg dated 16 May 2005:
Out of a fear of oversupply, the MOC has suggested suspending the licensing of new cement projects from now until 2020. To this effect the MOC submitted Official Letter 64/BC-BXD dated 3 November 2009 to the Prime Minister and on 5 December 2009 the Government Office in its Official Letter 8703/VPCP-KTN notified that Deputy Prime Minister Hoang Trung Hai agreed with the MOC's suggestion.
For inquiries related to this Client Alert, please contact:
Dao Nguyen ( )
Thinh Dan ( )
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