The government aims to gradually replace imported steel

Steel industry development strategy to 2030, vision 2050 was signed by Deputy Prime Minister Bui Thanh Son on February 9. Accordingly, the steel industry aims to develop gradually towards high-value, environmentally friendly products. Manufacturing enterprises in this industry will focus on meeting domestic demand, promoting exports and deeply participating in the global value chain.

The steel industry will transform its product structure to gradually replace imported goods, especially alloy steel, tools and special products to serve the domestic manufacturing sector.

Specifically, by 2030, domestic steel products will meet about 80-85% of domestic demand, with an average annual consumption of 270-280 kg per person. This rate will increase to about 85-90% by 2035. By 2050, the industry is expected to meet all domestic demand.

To achieve the goal, the industry will continue to invest in modern technology and equipment to increase production capacity and product quality (such as high-strength, pre-stressed steel plates, anti-corrosion, ultra-light stainless products).

The strategy also directs research and production of steel products to serve the development of energy infrastructure, high-speed railways, liquefied petroleum gas (LNG) transportation, shipbuilding and defense and security industry. Key products include steel rails, cast pipes, seamless steel pipes, wind power poles, specialized manufactured steel… contributing to increasing the economy’s self-reliance. Along with that, large-scale projects will be focused on investment in localities with deep-water ports, advantages in renewable energy and production resources.

According to data from the Vietnam Steel Association (VSA), Vietnam imports more than 16.1 million tons of steel in 2025, equivalent to over 11.1 billion USD. Of which, 9.2 million tons were imported from China, accounting for about 57-58%. In contrast, domestic steel production recorded significant improvement with crude steel output reaching 24.66 million tons (up 12.2%) and finished steel output 32.26 million tons (up 9.6%).

Meanwhile, finished steel exports only reached nearly 5 million tons, down 37.9%, with hot rolled steel coil (HRC) alone down more than 60%.