The report of the Vietnam Steel Association at the 6th term congress (2025 - 2030) held on May 30 in Hanoi said that 2024 is the year when the Vietnamese steel industry will recover strongly and domestic consumption output will reach the highest level in the past 10 years at 24.5 million tons.
In the past 5 years, the output of finished steel products reached more than 176 million tons, an increase of more than 73.5 million tons compared to the period 2019 - 2024. Vietnam has now become one of the major steel product exporting countries in the region and globally.
The period from 2019 to 2024 is considered a period of active investment in the Vietnamese steel industry in all stages from upstream iron smelting, steel smelting to construction steel rolling, hot rolling of flat steel, cold rolling of steel plates to downstream such as production of welded steel pipes and galvanized and color-coated steel.
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| Vietnam's Steel Industry is gradually shifting towards the world's green growth trend. Photo: QL |
Notably, investment projects mainly come from enterprises with domestic investment capital. At the same time, the Vietnamese steel industry is gradually following the trend of the global steel industry shifting to green growth.
The report of the Vietnam Steel Association also said that in the last term, the Association actively participated in policy making, consulting and criticizing the steel industry, and trade defense work. In general, the Association's opinions on investment projects are accurate, contributing effectively to investors when the projects go into production.
In particular, the Association has coordinated with the functional agencies of the Ministry of Industry and Trade in developing a steel industry development strategy to 2030, with a vision to 2045, to accelerate the appraisal work in 2025.
Regarding the core tasks of the Vietnam Steel Association in the next 5 years, the Steel Association strives to build and develop the Vietnamese steel industry in the direction of green growth, in line with the Net Zero roadmap to 2050 that Vietnam has committed to.
At the same time, support and promote member businesses to promote production improvement, technological innovation, promote digital management models in production, improve productivity, product quality and competitiveness.
The Association also focuses on supporting member businesses in promoting trade, finding export markets and expanding markets. It proactively responds to trade defense lawsuits against exported steel products to minimize damage to domestic steel businesses.
| The 6th Congress of the Vietnam Steel Association elected the Executive Committee, in which Mr. Nghiem Xuan Da, General Director of Vietnam Steel Corporation - Joint Stock Company (VNSTEEL) continued to be elected as Chairman of the Association. |
Source: https://congthuong.vn/nganh-thep-viet-nam-huong-toi-muc-tieu-net-zero-390143.html
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