A worker at a steel factory in Vietnam (Illustrative photo: VNA)
Hanoi (VNA) - Vietnam’s steel sector has witnessed strong developmentin terms of capacity, output, and products in the recent past.
Data from the Vietnam Steel Association (VSA) shows that steel billetoutput surged 40-fold to surpass 12 million tonnes in 2015 from just 300,000 tonnesin 2000.
Meanwhile, output of finished steel products hit more than 26 milliontonnes in 2015, growing over ten-fold since 2000.
Product diversification also helps Vietnam’s steel sector make greatstrides forward in the region and have a more important role to play in the internationalarena.
The country will switch to electric arc furnaces from the current blastfurnaces, according to steel expert Nguyen Van Sua.
Another point of note in domestic steel development is the scale ofprojects. Since 2004, world-calibre projects have been built by firms such asHung Nghiep Formosa Ha Tinh and the Hoa Phat Group.
Deputy Director of the Hoa Phat Dung Quat Integrated Complex, Dinh VanChung, said its hot-rolled coil (HRC) has been in constant demand.
Hoa Phat will invest in another project with a capacity of 5 milliontonnes a year at Dung Quat by early 2022, which will primarily be involved inHRC production and will use modern technology, he added.
Vietnam is likely to develop special-purpose steel in the time to come.
VSA President Nghiem Xuan Da underlined that steel companies must keepa close eye on the market and enhance their competitive edge to promptly makeadjustments and sustain long-term development.
The State also needs to devise suitable strategies for the sector,towards guiding companies to invest more in technology./.
Soaring raw material prices coupled with delays in shipping due to the COVID-19 pandemic significantly pushed up steel prices recently, according to the Ministry of Industry and Trade.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
A worker at a steel factory in Vietnam (Illustrative photo: VNA) 
