An expected 6.2 percent GDP growth this year, as well as operations on 10 steel projects in 2017, will support the expansion of Vietnam's metallurgical sector.
However, experts warn of existing obstacles in the quality of cheap steel from China, which will continue to flood the domestic market. Vietnam also has to meet strict technical standards when it exports steel.
To cope with the difficulties, the country will apply trade protection measures and technical barriers to restrict steel imports. The VSA petitioned the government to impose anti-dumping measures on some steel imports.
The head of the VSA warns the government about the plan for the development of the iron and steel sector. The VSA sent a document to the Ministry of Industry and Trade to propose some changes to the draft plan for the zoning of the iron and steel sector by Vietnam until 2025 with a perspective for 2035.
Vietnam's steel sector could grow 10-12 percent next year
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