Vietnamese steel affirms position in world market

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.

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 tons. In recent years, businesses have strongly invested in modern technology, improved product quality and expanded export markets. The maintenance of an annual output growth rate of 10-15% has demonstrated the industry's strength and development potential. The diversity of products has helped the industry supplement the missing product ranges, meet domestic demand and improve its position in Southeast Asia. Thanks to these efforts, Vietnam's steel sector has affirmed its increasingly important role in the world's steel industry. Investment in large and modern steel projects has boosted the crude steel production capacity and attracted interest from key industries such as mechanical engineering, construction and defence./.