Under the strategy, annual steel output is expected to increase to 25-26 million tons by 2030, 33-36 million tons by 2035, and 75-80 million by 2050.

Under Prime Ministerial Decision No. 261/QD-TTg, signed by Deputy
Prime Minister Bui Thanh Son on February 9, a strategy for steel industry
development through 2030, with a vision toward 2050, has been approved.

The strategy aims to meet 80-85 per cent and around 85-90 per cent of domestic demand
by 2030 and 2035, respectively.

For that aim, annual steel output is expected to reach 25-26 million
tons by 2030, 33-36 million tons by 2035, and 75-80 million by 2050.

The strategy also sets out tasks and solutions related to
institutional and policy formulation; market development; science and
technology; human resources; environmental protection; and a number of specific
measures by steel product groups.

Particularly, the strategy plans to make more investments in
technology and equipment to enhance production capacity and quality for steel
product groups, including construction steel, alloy steel, fabricated steel,
section steel, metal-coated and color-coated sheets, steel pipes, and
hot-rolled steel, in order to stabilize domestic consumption and exports.

Meanwhile, more domestic technologies will be applied to produce
high-strength steel plates, prestressed steel, steel for prestressed reinforced
concrete, corrosion-resistant stainless steel for offshore and island projects,
ultra-lightweight steel for equipment in the transport sector, cold-rolled
light steel, and steel for the shipbuilding industry.

Additionally, it also targets to conduct research into the
production of steel products to meet material demand for energy infrastructure
development, rail steel for high-speed railway development, seamless steel
pipes for liquefied gas transportation, seamless pipes for shipbuilding, wind
power towers, and fabricated steel products for national defense and security.

vneconomy-Huyen Vy