The Vietnamese government has approved a new national strategy for the development of the steel industry through 2030, with a long-term vision extending to 2050, aiming to align the sector with domestic and international standards while gradually increasing self-sufficiency.
Under the strategy, Vietnam aims to meet 80-85 percent of domestic steel demand by the end of the decade, rising to around 85-90 percent by 2035. Production capacity is expected to expand significantly, with annual output projected at 25-26 million mt by 2030 and 33-36 million mt by 2035. By 2050, total steel production is forecast to reach 75-80 million mt, reflecting the country’s long-term industrialization and infrastructure development objectives.
Broad policy framework and product segment focus
The strategy includes a wide range of policy and structural measures, covering institutional reforms, market development, technology adoption, workforce training and environmental protection. It also outlines targeted actions across key product segments, including construction steel, alloy steel, fabricated steel, section steel, metal-coated and color-coated sheets, steel pipes and hot rolled products, with the aim of stabilizing both domestic consumption and export performance.
Emphasis on higher-value and strategic steel grades
A central pillar of the plan is the development of domestic technological capabilities. Vietnam intends to strengthen local production of higher-value and specialized steel products, including high-strength plate, pre-stressed steel, corrosion-resistant stainless steel for offshore and island infrastructure, ultra-lightweight steel for transport equipment, cold rolled light steel, and shipbuilding grades.
In parallel, the government aims to support research and development of steel materials required for strategic sectors. These include steel for energy infrastructure, rail steel for high-speed rail projects, seamless pipes for liquefied gas transport and shipbuilding, wind power towers, and fabricated components for national defense and security. The strategy positions the steel industry as a core pillar of Vietnam’s long-term industrial growth and infrastructure expansion.