The steel industry has affirmed its position by reaching the Top 12 in the world in terms of crude steel production. Not only is the production output growing rapidly, but Vietnamese steel products are also gradually becoming more diverse, according to the Vietnam Steel Association (VSA). Since 2015, Vietnam’s steel industry has developed into one of the leading manufacturers in ASEAN in terms of production and sale of finished steel products. In 2023, it also ranked 12th globally in crude steel production, with an output of 20 million tonnes. In 2000s, the emergence of private enterprises such as Hoa Phat, Hoa Sen and Viet Duc, and joint ventures with the Vietnam Steel Corporation such as Vina Kyoei, SSSC and Vinausteel quickly created significant changes in the structure of the steel industry. These enterprises considerably improved the manufacturing capacity and product quality, and diversified types in the market. At that time, Vietnam turned out 0.5 million tonnes of crude steel and 2 million tonnes of p
roducts each year.
Source: Vietnam News Agency