Vietnam Has 100,000 tons of Paper in Stock
Vietnamese paper companies now have around 100,000 tons in stock as their sale is very slow, said Vu Ngoc Bao, general secretary of the Vietnam Pulp and Paper Association (VPPA).
Bao said even though the companies have reduced prices of their products twice by 5 per cent-15 per cent in the first two months of 2009 to boost sales against competition from imports which are offered VND500,000-VND800,000/ton cheaper.
In January, the Ministry of Finance raised the import tax on newsprint from 20 per cent to 29 per cent to support domestic companies. The tax on other products and cardboard was increased to 29 per cent from 25 per cent.
According to the VPPA, locally produced writing paper is now accounting for only 60 per cent of market, and newsprint only 15 per cent. (New Hanoi)
Vietnamese
