Government to Dismantle Cement Cartel, Warns Importers
The government has vowed to dismantle a cement cartel accused of manipulating prices and creating artificial scarcity to exploit consumers, a senior Trade and Industry Ministry official told Global Times on Sunday.
The official revealed that some cement importers are deliberately inflating prices, with wholesale rates ranging from Le160 to Le165 per bag—significantly above the government’s recommended Le120 to Le140 range.
“This is totally unacceptable,” the official stated. “They have formed a cartel, creating artificial scarcity to maximize profits at the expense of ordinary consumers.”
For the past month, the government has engaged in negotiations with the country’s three major cement importers to establish a fair pricing formula. However, some companies have refused to cooperate.
“If they fail to comply, we will revoke their import licenses and cancel their concessions,” the official warned.
The government is currently reviewing all concession agreements with cement importers, citing their failure to uphold contractual obligations. Authorities have pledged decisive action against non-compliant companies as early as this week.
Investigations into the cartel’s operations are ongoing.
