Vietnam targets developing green steel products

Vietnam plans to develop green and energy-saving steel products, and increase the market share of domestically produced steel to gradually replace imports. 

Those goals are stated in the draft of the strategy on developing Vietnam's steel industry until 2030, with a vision to 2050, which the Ministry of Industry and Trade has developed to submit to the Government for approval. The strategy is expected to be approved in September.

It will guide State agencies and localities to build mechanisms and policies, and to manage the development of the domestic steel industry.

The strategy will help steel enterprises develop their long-term and short-term business development plans in harmony with the development of the industry and product development strategies.

It will also give directions in production technology and the development of raw materials for the steel industry.

Vietnam now ranks 12th in the world regarding crude steel production, but the Vietnamese steel industry has limit ations in terms of technology, raw materials, production capacity and product types.

The strategy aims to overcome these limit ations, and promote the modern and sustainable development of the steel industry./.

By:  VNA