Second-quarter 2026 financial results released by several cement manufacturers point to solid business performance both during the quarter and in the first half of the year.

Accordingly, Vicem Ha Tien Cement JSC has reported second-quarter (Q2) 2026 net revenue of approximately $90.4 million, up 17 per cent on-year. Its pre-tax profit reached $6.73 million, an increase of 31.7 per cent on-year.

The result marked the company’s highest quarterly profit in the past five years, enabling Vicem Ha Tien to complete more than half of its annual profit target after the first half of the year.

Total cement and clinker consumption approximated 61 million tonnes in the first half of 2026, up nearly 16 per cent on-year

According to the company, the strong performance was driven by a 6.4 per cent increase in cement sales volume compared with the same period of 2025.

The company also recognised revenue from cost-recovery fees related to the construction of a road stretch connecting Nguyen Duy Trinh road to Phu Huu Industrial Park in Ho Chi Minh City.

For the first six months of 2026, Vicem Ha Tien posted net revenue of nearly $164.8 million and pre-tax profit of more than $10.8 million, representing on-year growth of 17.15 per cent and 109.5 per cent, respectively.

La Hien VVMI Cement JSC also reported improved results, saying cement sales volume rose about 12.4 per cent in Q2 as local property market showed signs of recovery.

In addition to higher average selling prices, which boosted revenue compared with the same period last year, the company’s financial income increased by nearly 63.6 per cent. Measures to improve productivity and reduce production costs also contributed to stronger profit growth.

The company’s net revenue reached $7.9 million, up 5 per cent on-year, while Q2 pre-tax profit rose 47 per cent to $1 million. In the first half of 2026, the company’s pre-tax profit totalled $1.12 million, an increase of 40.7 per cent from a year earlier.

Vicem But Son, which posted a pre-tax loss of $644,000 in the first half of 2025, returned to profitability with first-half 2026 pre-tax earnings of $564,000, including $440,000 in the second quarter alone.

Vicem Hoang Mai also reported positive results, recording first-half pre-tax profit of $320,000, up 1.5 per cent on-year.

According to data from the Vietnam Building Materials Information and Data Centre (BIDC), total cement production reached 58.14 million tonnes in the first half, an increase of around 9 per cent compared with the same period last year.

Total cement and clinker consumption reached 60.98 million tonnes, up nearly 16 per cent. Although June saw signs of slower market growth, cumulative first-half results continued to reflect solid underlying demand.

Domestic consumption totalled 41.58 million tonnes, up 16 per cent on-year, while total exports reached 19.4 million tonnes, an increase of 15 per cent. Export value was approximately $720.5 million, up 14 per cent from the same period last year.

BIDC also noted that market activities slowed in June, with production, domestic consumption and exports all declining slightly from the previous month, although remaining above levels recorded in June 2025.

The trend suggests that market demand has not weakened remarkably, but future growth is becoming increasingly dependent on public investment and exports.

During the remainder of the year, the cement industry’s outlook will hinge on the pace of infrastructure investment disbursement, the recovery of the property market and developments in international freight costs.

Businesses face challenges in greenhouse gas inventories Enterprises, particularly in the thermal power, cement, and iron and steel sectors, face major challenges in compiling greenhouse gas inventories due to fragmented data systems, inconsistent activity data, and a lack of dedicated personnel.

Thailand cuts 3.8 million tonnes of CO2 via low-carbon cement Thailand reduced more than 3.8 million tonnes of CO2 through low-carbon cement adoption, exceeding its nationally determined contribution targets and advancing a collaborative public-private Net Zero model.

Cement firms maintain pessimistic outlook Cement firms across the country continue to face tough times with dwindling consumption amidst the stagnant real estate market, reduced residential project deployment, and shrinking exports.

Cement firms aspire for better performance following policy move A new policy aimed at addressing the challenges facing the production and consumption of construction materials, particularly cement, is expected to help the sector boost consumption and improve revenue over the rest of this year.

The Next Wave of Startups (NWoS) Incubation Program 2026 was announced at the Founders’ Meetup #1 policy seminar in Ho Chi Minh City on July 31.

The event provided a comprehensive overview of Vietnam’s policies supporting startups and innovation, while offering practical guidance on how startups can effectively access resources across the innovation ecosystem.

According to Dinh Xuan Tu, acting director of the Technology Incubation Centre under the Department of Startups and Technology Enterprises at the Ministry of Science and Technology (MoST), developing a vibrant startup and innovation ecosystem, particularly technology spin-off enterprises, is increasingly important as science and technology, innovation, and digital transformation become key drivers of economic growth and national competitiveness.

“Under new resolutions and relevant directives, the Department of Startups and Technology Enterprises has led the formulation of key policies to foster innovation and technology enterprise development,” Tu said.

According to the MoST, Vietnam’s innovation startup ecosystem has made significant progress, with around 4,000 innovative startups, nearly 210 venture capital funds, close to 200 incubators, and approximately 1,000 enterprises certified as sci-tech businesses. In addition, more than 40 technology spin-offs have been established from research institutes, universities, and corporations.

However, from a public administration perspective, Tu noted that the number of technology spin-offs in Vietnam remains well below the country’s research and innovation potential.

“The commercialisation of research outcomes continues to face significant challenges. Limited access to capital, expert support, markets, and government support policies remains a major obstacle for many startups and technology spin-offs. These are also the issues that policymakers are working to address by refining mechanisms to create a more enabling environment for innovation and enterprise development in the years ahead,” he said.

Nguyen Dac Binh Minh, deputy director general of the National Academy for Advanced Techonogy and Innovation under the MoST, said Vietnam needs to foster a new entrepreneurial mindset, encouraging young people to seek employment after graduation and become founders and leaders of future technology enterprises and corporations.

According to Minh, the government is shifting from a regulatory mindset to a development-oriented, enabling approach that recognises businesses and innovation as key drivers of economic growth.

“Alongside the new legal framework, the government is introducing a range of policies to strengthen the innovation ecosystem. These include regulations on the National Venture Capital Fund, financial mechanisms for science, technology and innovation, public-private partnerships in sci-tech, technology market development, as well as policies to support startups and innovation networks,” Minh said.

Following its inaugural edition in 2025, the Next Wave of Startups initiative, launched by WorkFlow, the Open Innovation & Technopreneur Institute, and partners to support Vietnam’s and the region’s startup ecosystem, has entered a new phase with the launch of the NWoS Incubation Program 2026.

While the 2025 edition focused on identifying and selecting promising startups through a competition format, the 2026 programme marks a shift towards a comprehensive incubation model. The initiative is designed to support startups in refining their business models, expanding into new markets, and strengthening their long-term growth potential.

The 2025 NWoS offering attracted nearly 200 applications, bringing together almost 40 local and international experts and mentors, as well as more than 1,000 participants, including representatives from organisations, businesses, and international partners. These outcomes reflected the strong interest of the startup community while providing organisers with valuable insights into the evolving needs of Vietnamese startups as they move into their next stage of development.

As Vietnam’s innovation ecosystem continues to mature, an increasing number of startups have progressed beyond the ideation stage, with early products already in the market. They are now facing more complex challenges, including validating business models, acquiring enterprise customers, expanding into new markets, and preparing for fundraising rounds. In response, the programme has evolved into an incubation model focused on providing long-term, hands-on support, rather than limiting its role to identifying and selecting promising startups.

Private capital market shifts from growth-at-all-costs to patient capital As Vietnam’s private capital market matures, investors are shifting their focus from aggressive expansion to long-term, sustainable growth. At the VIPC Summit on May 28, Nguyen Thanh Thao, CEO of Thien Viet Securities (TVS) explained why ‘patient capital’ – capital focused on governance, operational resilience, and sustainable value – is becoming the new benchmark.

Capital concentrated in later-stage startups, leaving funding gaps for early ventures Capital remains available for Vietnam’s innovation economy, but it is becoming increasingly concentrated in later-stage companies, exposing critical funding and exit gaps that could constrain the next generation of startups.