VSA General Secretary Chu Duc Khai noted that steel consumption depends on Vietnam’s gross domestic product (GDP) growth.With expected GDP growth of 6.2 percent this year, and the operation of 10 steel projects in 2017, the sector’s growth is expected to further expand, Mr.Chu Duc Khai said.
He also noted that Vietnam has to meet strict technical standards when it exports steel.
However, he warned of challenges ahead as cheap steel with low quality from China would continue to flood the domestic market. According to the VSA, Vietnam imported more than 14 million tonnes of steel in 2015. The figure for this year is estimated at about 17.5 million tonnes
The VSA has filed petitions to the Government demanding anti-dumping measures be imposed on several steel imports.
The association has also sent a document to the Ministry of Industry and Trade (MoIT) to propose some changes in the draft zoning plan for Vietnam’s steel sector until 2025 with a vision towards 2035.
