Steel industry in Vietnam

According to the Vietnam Steel Association (VSA), Vietnam exported nearly 2,8 million tonnes of steel, up 13,7 percent against the same period last year.

In the context of global competition and increasing application of trade defence measures, the search for and diversification of export markets is essential, adding the signed free trade agreements (FTAs), Vietnam could optimise tariff incentives to boots exports to the EU.

The largest steel maker in Vietnam said to maintain its share in the domestic market and expand markets in the EU, his company is taking a lot of measures to improve product quality, reduce cost and enhance customer service.

A majority of Vietnamese steel firms are operating at small scale, so their production, technology and financial capacity is limited. To make inroads into the European market and avoid trade lawsuits, the steel sector needs to develop large-scale enterprises and proactively study the export markets’ tariff regulations and trade defence measures.

Galbiati Group is a Company leader in the steel field: the Mechanical Machining and Construction Division and the Gear Reducers Division make Galbiati Group the ideal partner qualified for mechanical transmissions for steel industry and for customized construction of mid and large-sized components that require high quality standards: http://www.galbiatigroup.com.

 

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