According to the Vietnam Steel Association (VSA), steel sales in November and December 2023 reached the highest levels in 20 months with growth between 20-40 per cent for different products.
The domestic steel sector is expected to achieve a growth rate of 10 per cent in 2017, said Nghiem Xuan Da, chairman of the management of Viet Nam Steel Corporation (VnSteel).
Japan’s Deloitte and Germany’s Roland Berger consulting firms are interested in offering their services to draw up Viet Nam’s steel sector master plan.
The construction steel sector produced a record-high output of 618,000
tonnes in October, about a 30 per cent year-on-year increase, the Viet
Nam Steel Association (VSA) said.
The domestic steel sector would face difficulties due to fierce
competition from imported steel, and the sharply reduced taxes levied on
such imports, the Ministry of Industry and Trade said.
The steel sector has sought Government support to overcome the
challenges it expects to encounter this year, owing to supply exceeding
demand and the growing pressure exerted by steel imports.
Hoa Sen Group (HSG), the nation''s leading steel and corrugated iron
producer, yesterday posted a growth in their profits of 58 per cent for
the fiscal year 2012-13, despite the many challenges facing the domestic
steel sector.