(HSV VIETNAM GROUP) – The steel industry will transform its product structure to gradually replace imported steel, especially alloy steel and tool steel. The goal is to meet 85% - 90% of domestic steel demand by 2035.
Deputy Prime Minister Bui Thanh Son signed Decision No. 261/QD-TTg dated February 9, 2026 approving the Steel Industry Development Strategy for the period to 2030, vision to 2050 (Strategy).
Reduce imports, meeting 85% - 90% of domestic steel demand
The strategy aims to develop the steel industry by focusing on high quality steel products in accordance with national and international standards; diversifying products, gradually converting to products with high added value, environmentally friendly, making the most of fuel sources, meeting domestic demand, rapidly increasing exports, being competitive and deeply participating in the global value chain; Transform product structure to gradually replace imported steel, especially alloy steel, tool steel and special steel products for domestic manufacturing industries.
By 2035, the steel industry will meet 85% - 90% of domestic demand
The goal is that by 2030, the steel industry must meet about 80-85% of domestic demand. Regarding production capacity, strive for crude steel output to reach 25-26 million tons/year (growth of 7-8%/year); Finished steel products reach 32-33 million tons/year (growth of 5.5-6.5%/year). The average steel consumption per capita is expected to reach 270-280 kg/year.
In the period 2030-2035, the rate of meeting domestic demand will be raised to 85-90%. At this time, Vietnam will give maximum priority to steel lines with high added value to serve supporting industries such as automobiles, shipbuilding, mechanical engineering and energy.
During this period, crude steel production grew on average about 6.0% - 7.0%/year, with output reaching about 33 - 36 million tons/year. Finished steel products grow from 4.5% - 5.5%/year, output reaches about 40 - 43 million tons/year. Steel consumption averages 340 - 360 kg/person/year.
By 2050, the Government expects Vietnam's steel industry to have a crude steel production capacity of 65-70 million tons/year and finished steel production capacity of 75-80 million tons/year. At that time, the average consumption per capita will approach developed countries, reaching about 570-650 kg/person/year.
Research and produce special types of steel to serve strategic infrastructure
Notably, the Strategy focuses on developing products with advantages and high demand that cannot currently be produced domestically; Focus on investing in steel production projects with advanced and modern technology, producing green steel, alloy steel, steel for the manufacturing industry, products with high competitiveness, capable of participating in the global value chain. At the same time, rapidly increase the content of science and technology to increase productivity and product quality in accordance with international standards.
The strategy also provides specific directions on: priority products; raw material sources; energy sources for production; develop steel industry enterprises; domestic steel consumption market and import and export; technology; spatial distribution.
In particular, the Government is responsible for the research and production of special steels to serve national strategic infrastructure. In particular, the Government directs the steel industry to master the technology of producing steel rails to serve the development of high-speed railways.
In addition, develop domestic technology to produce high-strength steel plates, pre-stressed steel, steel used in pre-stressed reinforced concrete, anti-corrosion stainless steel for island projects, ultra-light steel used for equipment in the transportation industry; cold rolled mild steel, shipbuilding steel; Cast steel pipes for liquefied gas transportation, seamless steel pipes for shipbuilding, wind power poles, steel manufactured in national defense and security.
Ha Diem HSV