MTA Vietnam is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726

Steel industry recommends many solutions to promote sustainable growth

28/04/2022

In the first quarter of 2022, despite many difficulties and challenges due to the COVID-19 pandemic, the production and consumption of finished steel grew by 3.2% and 7.7%, respectively, compared to the same period.

Signals of Good Growth

On 18 April, the Vietnam Steel Association (VSA) published a report on the situation of the Vietnamese steel market in March and the first quarter of 2022.

Accordingly, in March 2022, finished steel production reached 3.338 million tons, an increase of 29.16% compared to February 2022 and an increase of 6.8% compared to the same period in 2021. Consumption of steel of all kinds reached 3.123 million tonnes, an increase of 21.3% compared to the previous month and an increase of 2.4% compared to the same period. “Overall, compared to the same quarter of 2021, finished steel production reached 8.456 million tons, an increase of 3.2%; finished steel consumption reached 8.137 million tons, an increase of 11.9%“- VSA report details.

Notably, in terms of exports, in March 2022, Vietnam’s finished steel exports reached 956 thousand tons, an increase of 75.41% compared to the previous month, but a decrease of 22.8% compared to the same period in 2021. Export value reached $908.63 million, up 71.87% compared to February 2022 and up 1.05% compared to the same period in 2021.

Overall, in Q1/2022, Vietnam exported about 2.275 million tonnes of steel, down 22.15% year-on-year. Export value reached US $2.3 billion, an increase of 12.53% compared to the same period in 2021.

Vietnam’s main export markets in the first quarter of 2022 focused on ASEAN regions (40.57%), the EU region (19.32%), the United States (8.34%), South Korea (6.97%) and Hong Kong (3.91%).

According to some experts’ forecasts, in 2022, domestic steel consumption will grow well based on increased public investment disbursements, focus on infrastructure, and civil construction activities recovering as the epidemic is controlled.

Specifically, the National Assembly approved an economic recovery support package worth VND 350,000 billion, of which VND 113,850 billion is allocated for infrastructure development, focusing on key projects such as the North – South East expressway, Long Thanh airport, large logistics ports…, which are accompanied by increased iron and steel consumption.

Capacity building, adaptation for development

Currently, Vietnam has participated in 15 FTAs, which creates opportunities to increase exports as well as require the manufacturing industry to adapt to develop…Besides, steel enterprises also have more opportunities to promote production and export to new markets.

Mr. Nghiem Xuan Dich – VSA Chairman said that in order to create incentives for the steel industry to develop, Resolution 01/NQ-CP issued on January 9, 2022 with solutions for development and socio-economic recovery will promote production and business, boost exports and accelerate the disbursement of public investment capital.

The mobilization of all resources for infrastructure development will support the stronger development of the steel industry, helping businesses stabilize their production and business activities towards flexible adaptation to the Covid-19 pandemic.

Mr. Nghiem Xuan David also said that for Decree 101/2021/ND-CP amending and supplementing a number of articles of Decree 122/2016/ND-CP and Decree 57/2020/ND-CP to contribute to macroeconomic stability, inflation control has been issued, the steel industry always complies and will implement effectively in the coming time.

Steel enterprises identify this as both a challenge and an opportunity that requires steel enterprises to constantly innovate technology, reduce costs and improve competitiveness in the current post-Coviet context,”- VSA President stressed.

However, VSA also recommends that the Government and relevant ministries and sectors take the lead in developing and soon promulgating national standards for color-coated and plated products. At the same time, guiding the process of participation of parties such as state agencies, associations and enterprises to have national standards in line with the current trend of global integration. Vietnamese standards also need to adapt to other countries’ standards so that Vietnamese products can be promoted and sold to foreign markets.

In addition, in order to ensure the supply-demand balance in 2022, VSA recommends that the State has policies to encourage investment, promote and protect domestic steel production consistently and steadily. In addition, state agencies support enterprises in applying trade defense measures to protect domestic production, as well as responding to countries’ trade defense cases against Vietnam’s imported steel goods in order to minimize the damage to enterprises.

Source: Cong Thuong

Share this post

You may be interested in

21/06/2022
Conference “3D Metal Printing: From Potential To Application Reality For Professional Manufacturing In Vietnam”
This special topic of 3D Metal Printing gathers experts and engineers from domestic and abroad to...
20/06/2022
Talkshow “World Class Manufacturing: How To Get There From Here”
World Class Manufacturing (WCM) is a structured and integrated manufacturing system that covers...
20/06/2022
Conference “Accelerating Vietnam’s Manufacturing Transformation Towards Smart Production”
Not apart from the picture of digital transformation around the world, Vietnam manufacturers are...
20/06/2022
Talkshow “How To Improve Business Collaboration And Funding Capacity For Manufacturing Firm”
Besides the enterprise’s capital, mobilized capital (borrowing or issuing additional shares)...
23/05/2022
Seminar “How To Reduce 8+1 Wastes In Manufacturing Operations”
With aims to support the local enterprises in manufacturing management and operation in the “new...
06/05/2022
Promoting energy saving in Vietnamese industries
On May 5 and 6, 2022, in Hanoi, the Ministry of Industry and Trade will coordinate with the World...
06/05/2022
Businesses worry about cutting off the supply of raw materials
The wave of re-epidemic outbreaks in China caused certain difficulties in the electronics...
06/05/2022
Steel sheet group’s profit was stable in the first quarter of 2022, except for one large company that declined
Although a lot is expected from a stable production system as well as domestic and...
06/05/2022
Domestic mechanical engineering enterprises: Is it possible to seize the golden opportunity?
In the wind power segment alone, by 2045 with an expected capacity of 40,000 MW and can be...
06/05/2022
COVID-19 is under control, industrial production increases by 9.4% over the same period
After the COVID-19 epidemic was under control, businesses were more proactive in terms of labor...

Subscribe to Our eNewsletters

    captcha
    BOOK A STAND
    ONLINE REGISTRATION
    Facebook stream
    Comments Box SVG iconsUsed for the like, share, comment, and reaction icons
    3 months ago
    MTA VIETNAM

    Tham Gia Giờ Trái Đất Cùng MTA Vietnam Để Chung Tay Kiến Tạo Tương Lai
    [English below]
    Là một phong trào môi trường có quy mô lớn nhất thế giới, Giờ Trái Đất đã tạo nguồn cảm hứng và thúc đẩy các cá nhân, cộng đồng, doanh nghiệp và tổ chức trên 190 quốc gia và vùng lãnh thổ hành động vì biến đổi khí hậu và mất môi trường tự nhiên. Đây cũng là sự kiện thuộc chuỗi phát triển bền vững từ Informa Markets với mong muốn tương tự. Hãy cùng MTA Vietnam tắt đèn từ 20:30-21:30 tối nay, thứ Bảy ngày 26/03/2022 và lắng nghe thông điệp hành động từ WWF toàn cầu trong Giờ Trái Đất 2022 nhé!
    ---------------------//
    Join Earth Hour with MTA Vietnam To Shape Our Future

    As the world's largest environmental movement, Earth Hour has inspired and motivated individuals, communities, businesses and organizations in 190 countries and territories to take action for climate change and loss of natural environment. This is also an event in the sustainable development chain from Informa Markets with the same desire. Let's turn off the lights with MTA Vietnam from 20:30-21:30 tonight, Saturday, 26/03/2022 and listen to the message from WWF during Earth Hour 2022!

    #earthhour #MTAVietnam #MTAHanoi #Manufacturing #Engineeering #MTAVietnamserries #MTAVietnamGoesHybrid #ManufacturingIndustry #MTAVietnam2022
    ...

    Tham Gia Giờ Trái Đất Cùng MTA Vietnam Để Chung Tay Kiến Tạo Tương Lai
[English below]
Là một phong trào môi trường có quy mô lớn nhất thế giới, Giờ Trái Đất đã tạo nguồn cảm hứng và thúc đẩy các cá nhân, cộng đồng, doanh nghiệp và tổ chức trên 190 quốc gia và vùng lãnh thổ hành động vì biến đổi khí hậu và mất môi trường tự nhiên. Đây cũng là sự kiện thuộc chuỗi phát triển bền vững từ Informa Markets với mong muốn tương tự. Hãy cùng MTA Vietnam tắt đèn từ 20:30-21:30 tối nay, thứ Bảy ngày 26/03/2022 và lắng nghe thông điệp hành động từ WWF toàn cầu trong Giờ Trái Đất 2022 nhé!
---------------------//
Join Earth Hour with MTA Vietnam To Shape Our Future

As the worlds largest environmental movement, Earth Hour has inspired and motivated individuals, communities, businesses and organizations in 190 countries and territories to take action for climate change and loss of natural environment. This is also an event in the sustainable development chain from Informa Markets with the same desire. Lets turn off the lights with MTA Vietnam from 20:30-21:30 tonight, Saturday, 26/03/2022 and listen to the message from WWF during Earth Hour 2022!

#earthhour #MTAVietnam #MTAHanoi  #Manufacturing #Engineeering #MTAVietnamserries #MTAVietnamGoesHybrid #ManufacturingIndustry #MTAVietnam2022
    3 months ago
    MTA VIETNAM

    MTA Vietnam 2022 Is Ready To Welcome The Return Of Our Exhibitors
    [Vietnamese below]
    With the latest news of ZERO QUARANTINE for international travelers entering Vietnam, MTA Vietnam 2022 is ready to welcome all of the international exhibiting companies to this year's exhibition at SECC, District 7, Ho Chi Minh City, Vietnam from 06-09/07/2022. MTA Vietnam is the leading prestigious exhibition of the engineering and manufacturing industry in Vietnam with a lot of experiences from organization to marketing promotion, promising in this return, MTA Vietnam will bring up many surprises to the community in and out of the country. Contact us to BOOK YOUR STAND NOW!
    ----------//
    MTA Vietnam 2022 Đã Sẵn Sàng Chào Đón Sự Trở Lại Của Các Nhà Trưng Bày

    Với những tin tức mới nhất về việc KHỒNG CẦN CÁCH LY đối với người nhập cảnh, MTA Vietnam 2022 đã sẵn sàng để chào đón các đơn vị trưng bày quốc tế đến với triển lãm năm nay tại SECC, Quận 7, tp. Hồ Chí Minh, Việt Nam từ 06-09/07/2022. MTA Vietnam là triển lãm uy tín hàng đầu trong ngành cơ khí chế tạo tại Việt Nam với nhiều kinh nghiệm từ khâu tổ chức đến quảng bá, tin chắc rằng sự trở lại lần này của MTA Vietnam sẽ làm cho cộng đồng cơ khí chế tạo trong và ngoài nước không khỏi bất ngờ. Liên hệ với chúng tôi để ĐĂNG KÝ GIAN HÀNG NGAY HÔM NAY!

    MTA Vietnam 2022
    ⏰ 06-09.07.2022
    📍 Trung tâm Hội chợ Triển lãm Sài Gòn - SECC, 799 Nguyễn Văn Linh, Quận 7, Tp. Hồ Chí Minh, Việt Nam
    ☎️ (+84) 28 3622 2588
    📩 [email protected]

    #MTAVietnam #MTAHanoi #Manufacturing #Engineeering #MTAVietnamserries #MTAVietnamGoesHybrid #ManufacturingIndustry #MTAVietnam2022
    ...

    MTA Vietnam 2022 Is Ready To Welcome The Return Of Our Exhibitors
[Vietnamese below]
With the latest news of ZERO QUARANTINE for international travelers entering Vietnam, MTA Vietnam 2022 is ready to welcome all of the international exhibiting companies to this years exhibition at SECC, District 7, Ho Chi Minh City, Vietnam from 06-09/07/2022. MTA Vietnam is the leading prestigious exhibition of the engineering and manufacturing industry in Vietnam with a lot of experiences from organization to marketing promotion, promising in this return, MTA Vietnam will bring up many surprises to the community in and out of the country. Contact us to BOOK YOUR STAND NOW!
----------//
MTA Vietnam 2022 Đã Sẵn Sàng Chào Đón Sự Trở Lại Của Các Nhà Trưng Bày

Với những tin tức mới nhất về việc KHỒNG CẦN CÁCH LY đối với người nhập cảnh, MTA Vietnam 2022 đã sẵn sàng để chào đón các đơn vị trưng bày quốc tế đến với triển lãm năm nay tại SECC, Quận 7, tp. Hồ Chí Minh, Việt Nam từ 06-09/07/2022. MTA Vietnam là triển lãm uy tín hàng đầu trong ngành cơ khí chế tạo tại Việt Nam với nhiều kinh nghiệm từ khâu tổ chức đến quảng bá, tin chắc rằng sự trở lại lần này của MTA Vietnam sẽ làm cho cộng đồng cơ khí chế tạo trong và ngoài nước không khỏi bất ngờ. Liên hệ với chúng tôi để ĐĂNG KÝ GIAN HÀNG NGAY HÔM NAY!

MTA Vietnam 2022
⏰ 06-09.07.2022
📍 Trung tâm Hội chợ Triển lãm Sài Gòn - SECC, 799 Nguyễn Văn Linh, Quận 7, Tp. Hồ Chí Minh, Việt Nam
☎️ (+84) 28 3622 2588
📩 mtavietnam@informa.com

#MTAVietnam #MTAHanoi  #Manufacturing #Engineeering #MTAVietnamserries #MTAVietnamGoesHybrid #ManufacturingIndustry #MTAVietnam2022
    Load more