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Vietnam steel sector to grow 10-12% in 2017 -The 18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
12/15/2016 steel expo-metal &metallurgy expo |
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Viet Nam Steel Association at a workshop in HCM City last week said that Vietnam steel industry is likely to enjoy 10 to 12% growth next year. According to Chu Duc Khai VSA General Secretary, steel consumption depends on the country’s gross domestic product growth. He added that with expected GDP growth of 6.2% this year, and the operation of 10 steel projects in 2017, the sector’s growth is expected to further expand.
However, Mr Khai warned of challenges ahead as cheap steel from China would continue to flood the domestic market.
Viet Nam also has to meet strict technical standards when it exports steel.
He noted that to cope with difficulties, the country will have to apply trade protection measures and technical barriers to restrict steel imports.
The VSA has filed petitions to the Government demanding anti-dumping measures be imposed on several steel imports. The VSA has sent a document to the Ministry of Industry and Trade to propose some changes in the draft zoning plan for Viet Nam’s steel sector until 2025 with a vision towards 2035.
Accordingly, the association suggested the ministry that propose the Government a stop in managing the steel industry by planning. Regarding the current practices, a steel project cannot be approved if it is not named in the master plan for the industry.
VSA Vice Chairman Nguyen Van Sua, said that economic sectors including steel should not be managed by planning. He said that instead, the zoning plan for Viet Nam’s steel sector should be used as a reference for businesses before deciding their investment.
According to the Law on Planning which has been discussed in the National Assembly since September, 21 sectors would need planning at national level as they relate maritime resources and large scale infrastructure. But most opinions against the planning for the steel industry, yet the ministry has still drafted planning and gathered opinions.
-The
18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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