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Vietnam to slow glass imports as a boon to stressed local firms
The government has allowed the Vietnam Glass Association to set stricter construction glass import standards to protect struggling local companies.
The move is expected to help prevent cheap and low quality glass products from entering the domestic market.
Vietnam’s glass inventory had surged to 34 million square meters, or 42 percent of the total annual output of the industry, by the end of May, according to the association (Vieglass).
Two members of the association had to shut down while the others cut back on production as demand for glass has fallen due to slowing construction activity.
Apart from the growing stockpiles, local glass producers also have to cope with high fuel costs as well as cheap and illegal imports, which can be 60- 70 percent less expensive than domestic products.
The government said it would consider raising tariff rates on imported glass products following a proposal by the Ministry of Construction last month. It also asked the ministry to introduce more stringent conditions to restrict new investment in the glass industry.
thanhnien, VNA
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