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Steel industry expects to produce 6.7m tonnes

Domestic steel production is expected to reach 6.7 million tonnes this year, a year-on-year increase of 4.2 percent, according to a report released by the Ministry of Industry and Trade.
Domestic steel production is expected to reach 6.7 million tonnes thisyear, a year-on-year increase of 4.2 percent, according to a reportreleased by the Ministry of Industry and Trade.

Theministry has also asked provincial-level agencies to narrow theissurance of invesment licences due to drastic competition of steelproducts in the global market and an overflow of low-cost steel productsimported into Vietnam .

Domestic firms are alsorequired to speed up steel projects, such as cast iron and steelmanufacturers in Thai Nguyen, Ha Tinh, Lao Cai Provinces and foreigndirect investment projects on the Guang Lian and Formosa steel plants./.
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