According to the agreement, SHB and VNSTEEL commit to long-term and mutually beneficial collaboration across many areas of operations in the 2024–2029 period.
The huge potential market is mainly driven by large investments and favourable tax policies, but the business picture in the third quarter of 2022 of these enterprises is facing many challenges with large losses.
The Ministry of Industry and Trade will transfer State capital ownership representative rights in five enterprises to the State Capital Investment Corporation (SCIC) in the first quarter of this year.
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).
The Viet Nam Steel Corporation plans to withdraw capital from non-core
businesses as part of an approved restructuring plan, according to a
corporation official.
The country''s energy sector witnessed a relatively high growth rate in
the initial two months of 2014 compared to the same period last year,
stated the Ministry of Industry and Trade.
The Viet Nam Steel Corporation has targeted manufacturing nearly 1.5
million tonnes of billet steel and 2.6 million tonnes of rolled steel
this year, up 24.5 per cent and 8 per cent from last year.
Vietnamese steel makers continue to face difficulties in production and
business because of fierce competition with Chinese steel products and
over supply.
Up to seven of the Viet Nam Steel Corporation''s (VnSteel) 13 members are
operating at a loss, the corporation''s General Director Le Phu Hung has
revealed.
The majority of the Viet Nam Steel Corporation''s (VNSteel) associate
companies have reported losses and face difficulties due to the quiet
real estate market and lower market prices.