On the occasion of Lunar New Year 2023, Chinfon Cement Corporation have given 500 gifts to the poor and the people in difficulties in Minh Duc town, Minh Tan and Gia Duc communes, Thuy Nguyen district, Hai Phong city.

Entering the last months of the year, in contrast to previous years, cement consumption demand tended to slow down due to construction projects boosted the purchase of construction materials last month. On the other hand, the purchasing power of the market was somewhat reduced due to limited cash flow and economic difficulties in the residential area.

The decrease in the quantity of cement and clinker export in 2022 is not surprising, but had been forecasted by experts in advance. Consumption of cement in the domestic market is slow, cement exports are weak, leading to a serious oversupply situation causing difficulties for businesses in the cement industry.

Information from VietNam Cement Association showed that high price levels, low progress or in-difficulty situation of large infrastructure projects cause the market of building materials to show signs of slowing down. Difficulties in consumption, high inventory are common problems of construction material enterprises today.

According to data released by the World Cement Association (WCA), global cement production fell 8% year-on-year to 1.9 billion tons in the first six months of 2022. WCA belived the global decline due to the volume of cement produced in China decreased by 15% to 977 million tons. Ian Riley, Executive Director of WCA, said China's decline was the largest in more than 20 years, larger than any decline ever recorded.

Since March, most of Vietnam's main export markets have fallen sharply, in which the markets of Bangladesh, Taiwan, Malaysia, the Philippines, China... have plummeted in both volume and value. The increasingly difficult export has made the cement producers turn to concentrate resources to capture domestic market share.

The Covid-19 epidemic was basically controlled on a global scale, countries gradually removed epidemic prevention and control measures, supply chains and trade resumed, facilitating the recovery of the world economy. In addition to that, the Russian-Ukrainian war broke out pushing up the demand for raw materials and fuels in 2022.

On April 8, 2022, CHINFON CEMENT CORPORATION was honored with the Top 10 at the 2022 Golden Dragon Awards Ceremony held at InterContinental Hotel, Ho Chi Minh City. This is also the 20th consecutive year that the Company has received the Golden Dragon Award.