Steel sector’s growth to hit 10-12 percent in 2017
The steel industry is likely to enjoy a 10-12 percent growth next year, said the Vietnam Steel Association (VSA) at a workshop in Ho Chi Minh city on December 8.
HCM City (VNA) – The steel industry is likely to enjoy a 10-12 percent growth nextyear, said the Vietnam Steel Association (VSA) at a workshop in Ho Chi Minhcity on December 8.
According to Chu Duc Khai, VSA Vice Presidentand General Secretary, steel consumption greatly depends on the country’s GDPgrowth.
With expected GDP growth of 6.2 percent thisyear, and the operation of 10 steel projects in 2017, the sector’s growth is expectedto further expand, Khai said.
However, he warned of challenges ahead as cheapsteel from China would continue to enter the domestic market.
Vietnam also has to meet strict technicalstandards when it exports steel.
To cope with difficulties, the country will haveto apply trade protection measures and technical barriers to restrict steelimports, Khai noted.
The VSA has filed petitions to the Governmentdemanding anti-dumping measures be imposed on several steel products importedto the country./.
The Vietnam Steel Association (VSA) has demanded aid for overcoming difficulties, such as excess supply and growing competition from cheap imported steel that has hit the industry hard.
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Illustrative image (Source: Internet) 
