Paper Firms Cutting Production
Vietnamese paper companies have to cut production capacity by 20 per cent-40 per cent early 2009 to sell last year’s inventories, the New Hanoi newspaper reported, citing the Vietnam Pulp and Paper Association (VPPA).
But the association said domestic paper sale is now very slow because of competitiveness from imported paper products.
To deal with the situation, the VPPA suggested the firms to boost domestic consumption and export while cutting production costs to reduce price.
The Ministry of Industry and Trade has also called on the Finance Ministry to raise import tax on paper from ASEAN countries from 0 per cent to 5 per cent.
Vietnamese paper firms were estimated to produce 1.3 million tons of paper in 2008, up 18 per cent on year. (New Hanoi)
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