The steel industry is not only the pillar of the heavy industry but also plays a key role in the economic and infrastructure development in Vietnam. As an important link in the construction materials supply chain, steel contributes to the creation of sustainable works, promoting modernization and international integration. In particular, Viet Duc Steel Group has been affirming its pioneering position, actively contributing to the development of the steel industry in particular and the construction materials sector in general, towards a strong and sustainable economy.

What role does the steel industry play in the economy and development in Vietnam?

As a core material in construction, steel contributes to the construction of important works such as bridges, roads, factories, urban areas and modern transportation systems. At the same time, the steel industry is also the foundation for the development of the manufacturing, mechanical, shipbuilding and automobile manufacturing industries, helping Vietnam reduce its dependence on imports and improve domestic production capacity. The steel industry plays an important role in the economic and infrastructure development of Vietnam.

In addition, the steel industry also contributes greatly to the country’s overall GDP, creating jobs for hundreds of thousands of workers and promoting exports, expanding markets to the region and the world. It can be said that the development of the steel industry not only strengthens the economy but also plays an important role in the process of industrialization and modernization of the country. The application of modern technology not only improves product quality but also helps Vietnamese steel enterprises increase their competitiveness, contributing to sustainable development.

With a figure of 7.09%, 2024 witnessed impressive growth of the Vietnamese economy despite the general difficult situation globally due to the crisis. In particular, the most notable is the industrial production sector with a growth of 8.4% – the largest figure since 2020. This is a factor that has a significant impact on the development of the steel industry in general.

The steel market in Vietnam in 2024 has shown signs of recovery and positive growth. Specifically, crude steel production in 2024 increased by about 14% over the same period last year, reaching nearly 22 million tons. Not stopping there, finished steel output also reached more than 29.4 million tons in 2024, an increase of about 6.1% compared to 2023. The amount of steel sold also increased significantly, exceeding 11% over the previous year, reaching more than 29.3 million tons. Steel enterprises also play an important role in supporting and rebuilding areas damaged by natural disasters such as Typhoon Yagi…

The role of Viet Duc Steel in contributing to the development of the steel industry in particular and construction materials in general

As one of the leading enterprises in the steel manufacturing industry in Vietnam, Viet Duc Steel Group is proud to provide high-quality steel for a series of key projects across the country. Over two decades of continuous development, the Group has contributed to creating a solid foundation for the country’s innovation and modernization.

To achieve these results, Viet Duc Steel Group pays great attention to the quality factor. Through the continuous updating and application of modern production technologies, the Group’s products always ensure to meet many strict standards, helping to increase the durability and safety of constructions, while promoting the sustainable development of the construction industry.

In addition, Viet Duc Steel also focuses on improving the quality of human resources in the steel industry, cooperating in training engineers and technical workers to meet the development needs of the market. Therefore, Viet Duc Steel products have been trusted and used in many key national projects, contributing to the development of traffic and urban infrastructure, including highways, overpasses, modern urban areas, factories and industrial parks. These projects not only improve the quality of life of the people but also create a driving force for economic growth, attract investment and expand production.

With these contributions, Viet Duc Steel Group not only contributes to building sustainable projects but also promotes the socio-economic development of Vietnam towards modernization and integration.

(Data used in the article is taken from the Vietnam Steel Association Report)