(HSV VIETNAM GROUP) – This is a piece of the puzzle that continues to complete the 5 pillars that Mr. Pham Nhat Vuong's Vingroup has proposed.
October 6, 2025 - Vingroup announced the establishment of VinMetal Production and Business Joint Stock Company, officially joining the metallurgical industry, expanding the current Industry - Technology pillar. The Company's goal is to meet the internal needs of the Vingroup ecosystem, while participating in promoting the development of heavy industry in Vietnam.
The company has an investment capital of 10,000 billion VND with the goal of building a high-tech industrial steel production complex with a capacity of about 5 million tons/year in phase 1, in Vung Ang, Ha Tinh.
VinMetal will focus on producing civil steel lines in construction; hot-rolled steel, high-strength steel and special alloy steel for the production of electric vehicles and high-speed traffic infrastructure. Among them, key products include high-quality steel plates and stamped steel for car bodies, rail steel and bridge-port-railway structural steel that meet international standards, aiming to replace imported sources and gradually export to the region.
The establishment of a steel manufacturing company is first of all to provide material needs for the Group's core areas such as Vinhomes real estate, VinFast electric vehicle production... In addition, Vingroup also aims to proactively supply high-quality steel for industrial, energy and transportation projects being researched and proposed for construction, including the North - South high-speed railway, Ho Chi Minh City - Can Gio and Hanoi - Quang Ninh routes.
In the long term, the Company aims to become a leading unit in green steel production in the domestic market, applying technology to reduce carbon emissions and reuse energy from renewable sources, contributing to promoting the development of the metallurgical industry in particular, as well as the development of heavy industry in Vietnam.
Mr. Pham Nhat Vuong founded a new, "blockbuster" company in a field where Vietnam is among the top 12 in the world and top in ASEAN.
The Company's goal is to meet the internal needs of the Vingroup ecosystem, while participating in promoting the development of heavy industry in Vietnam.
Mr. Nguyen Viet Quang - Vice Chairman of the Board of Directors and General Director of Vingroup, and General Director of VinMetal shared: "VinMetal is not only a steel factory, but also a strategic preparation step for the future of Vietnam's modern, green and sustainable infrastructure. Vingroup believes that proactively developing foundation industries will contribute to bringing the country into a new era of development - where Vietnamese people own technology, materials and deployment capacity. national key projects".
The birth of VinMetal Production and Business Joint Stock Company marks a new step in Vingroup's 5-pillar development strategy, including: Technology - Industry; Service trade; Social charity; Infrastructure; and Green Energy.
Proactively producing steel domestically not only helps the Group ensure material supply for large-scale projects, but also strengthens the internal capacity of Vietnam's heavy industry.
Steel industry potential
In 2023, Vietnam will rise to 12th position in the world in crude steel production, with output reaching 20 million tons. Maintaining an output growth rate of 10-15% per year during this period proves the strength and development potential of Vietnam's steel industry. We have also risen to become one of the leading manufacturers in ASEAN in terms of producing and consuming finished steel products.
Vietnam's steel industry has affirmed its position by reaching the Top 12 in the world in crude steel production.
According to the Vietnam Steel Association (VSA), in 2024, crude steel production will reach more than 21.98 million tons, an increase of 14% over the same period in 2023; Internal crude steel consumption and export sales reach 21.41 million tons, up 14% over the same period in 2023. Of which, mainly flat billet exports (slab) reach 2.783 million tons, up 55% over the same period in 2023.
Production of finished steel products of all kinds reached 29.443 million tons, an increase of 6.1%. Of which, metal-plated & color-coated corrugated steel production reached the highest rate of 23.1%, construction steel increased by 10.1%, steel pipe increased by 3.5% and hot rolled steel coil (HRC) was 1.5%; Only cold rolled steel production recorded a negative growth rate of 19.4%.
Vietnam's export of finished steel products in 2024 will reach about 7.6 million tons, with the main markets being ASEAN, EU, United States and Korea
Ha Diem HSV