H.E. Mohammed Ahmed bin Abdulaziz Alshihhi, Undersecretary of the Ministry of Economy, affirmed yesterday (Tuesday, April 29, 2008) that cement plants across the country have pledged their commitment to maintaining cement prices at AED 17 per bag.
H.E. Alshihhi clarfied in a press statement that rumors about cement plants increasing prices are untrue, since cement manufacturers had previously committed to fixing their sales price.
He also emphasised that appropriate actions will be taken in response to any increase in cement prices implemented by plants operating in the UAE.
“The Ministry of Economy will shortly embark on a series of initiatives to provide cement to local destinations in order to compensate for the product shortfall in the domestic market. We shall encourage companies to import cement directly and act accordingly against suppliers who exploit the growing market demand for cement,” said H.E. Ashihhi.
H.E. Alshihhi also commended the latest decision of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President, Prime Minister and Ruler of Dubai, to exempt cement and iron from customs tariffs at all national outlets. He pointed out that the decision of H.H. Al Maktoum reflects positively on the domestic market as it has broadened the circle of beneficiaries of customs exemption to include suppliers at the national level. Several construction and ready concrete companies have in fact already begun directly importing cement materials from neighbouring countries.
The Minister finally stressed that the UAE Ministry of Economy will continue to exert great effort to assist companies and cement producers in facing various industry challenges so that they can play a significant role in serving the market and promoting the UAE’s economic development.