Business

Binh Duong sees strong surge in H1 steel export

Steel producers operating in the southern province of Binh Duong exported over 228,000 tonnes of steel products in the first half of this year, a year- on-year rise of over 63 percent.
Steel producers operating in the southern province of Binh Duongexported over 228,000 tonnes of steel products in the first half of thisyear, a year- on-year rise of over 63 percent.

In June alone, local steel exporters’ turnover increased four times compared to the same period last year.

LePhuoc Vu, Chairman of the Directors Board of the Hoa Sen Group, whichaccounts for 40 percent of the market share, said his firm’s productsare shipped to 40 countries and territories over the world and thegroup’s turnover is hoped to hit 14 trillion VND (658 million USD) thisyear.

Vietnamese steel businesses will have many opportunitiesto promote export to potential foreign markets in the coming time,especially when the Trans-Pacific Partnership (TPP) agreement is signed,Vu said.

However, they should also pay attention to innovatingproduction technologies to improve the quality of their products, andreduce the cost price so as to enhance their competitiveness.-VNA
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