Paper industry adopts cost-cutting measures to boost sales

The paper industry is to adopt a series of measures designed to cut production costs in order to stimulate domestic consumption and increase exports, announced a Vietnam Paper and Pulp Association (VPPA) official.

According to VPPA’s General Secretary Vu Ngoc Bao, almost all domestic paper mills will need to reduce production by 20-40 percent due to stockpiled goods. However, domestic consumption is shrinking rapidly due to an increase in more competitively-priced imported goods.

Bao revealed that the Ministry of Industry and Trade met with relevant ministries and agencies on Feb. 5 and proposed that the Finance Ministry adjust the tax rate levied on imported paper products, increasing import duty in order to ease the burden on domestic paper producers.

vna

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