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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). Download The Prime Minister approved the Steel Industry Development Strategy for the period up to 2030, with a vision to 2050. The strategy aims to develop the steel industry towards 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 2030, the steel industrys products will meet about 80% - 85% of domestic demand. By 2030, strive for an average growth of crude steel production of about 7.0% - 8.0%/year, output reaching about 25 - 26 million tons/year. Finished steel products grow from 5.5% - 6.5%/year, output reaches about 32 - 33 million tons/year. Steel consumption averages 270 - 280 kg/person/year. Steel industry products basically meet about 80% - 85% of domestic demand and gradually increase the proportion of exports. Gradually increase the proportion of steel products with high added value: Steel alloys, stainless steel, high-quality steel serving manufacturing, production, transportation (automobiles, shipbuilding, railways), and energy industries. The goal is that by 2035, crude steel production will grow on average at about 6.0% - 7.0%/year, output will reach about 33 - 36 million tons/year. Finished steel products will grow from 4.5% - 5.5%/year, output will reach about 40 - 40%/year. 43 million tons/year. Steel consumption averages 340 - 360 kg/person/year. Products of the steel industry basically meet about 85% - 90% of domestic demand and gradually increase the proportion of exports. Continue to increase the proportion of steel products with high added value: alloy steel, stainless steel, high quality steel serving the manufacturing, production, and transportation industries (automotive, construction). ships, railways), energy, steel for national defense and security. By 2050, steel output will reach about 75 - 80 million tons/year; Average consumption is 570 - 650 kg/person/year. Striving to 2050, crude steel production will grow at an average rate of about 4.0% - 4.5%/year, output will reach about 65 - 70 million tons/year. Finished steel products will grow from 3.5% - 4.0%/year, output will reach about 75 - 80 million tons/year. Average steel consumption will be 570 - 4.0%/year. 650 kg/person/year. Products of the steel industry basically meet the maximum demand for domestic steel use and gradually increase the proportion of exports. Products of the steel industry participate more and more deeply in the supply chain of the world steel industry. Regarding development orientation, 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. Reasonably distribute steel industry production space based on geographical advantages, focus on investing in large-scale projects in localities with deep-water ports to take full advantage of space, infrastructure, locations with renewable energy sources and production resources; promote linkages in the value chain from research, raw material supply to production and product consumption. In addition, 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. Continue to invest in technology, improve capacity and quality of steel production to serve economic development. To realize the above goals, the Strategy also sets out tasks and solutions on policy mechanisms; product consumption market; science and technology; human resources, environmental protection and some specific solutions by steel product group such as: Continue to invest in technology and equipment to improve production capacity and quality for steel product group in developing the economy; steel for construction, alloy steel, manufactured steel, shaped steel, metal-plated and color-coated corrugated iron, steel pipes, hot-rolled steel to stabilize domestic consumption and export. Develop domestic technology to produce high-strength steel plates, pre-stressed steel, steel used in pre-stressed reinforced concrete, anti-corrosion stainless steel used for island projects, ultra-light steel used for equipment in the transportation industry; cold-rolled mild steel, shipbuilding steel. Research on steel production to serve the need for steel materials for energy infrastructure constructionng, steel rails for high-speed railway development, cast steel pipes to transport liquefied gas, seamless steel pipes for shipbuilding, wind power poles, steel manufactured in national defense and security. Tuyet ThuSee moreNeed to issue Vietnam Steel Industry Development Strategy soonSee moreSteel industry strives to green in productionSee moreDomestic steel industry under pressure from consumption demandSee moreMaintaining stability for the steel industry in the face of fluctuationsReference moreThe domestic steel industry is expected to prosper at the end of the year. See moreProposal to
