Steel businesses improve competitiveness

Vietnam+ | Wed, Jun 1, 2016 10:10:58 AM Share this on

The Vietnam Steel Association (VSA) and the South East Asia Iron and Steel Institute (SEAISI) jointly held an international expo in Hanoi on May 30 to improve competitiveness of the steel sector in ASEAN.

The expo features 62 booths, including eight from Vietnam, showcasing a wide range of products from domestic and foreign major steel manufacturers. 

Chairman of the VSA Ho Nghia Dung said the Vietnamese steel industry has witnessed the fastest growth in Southeast Asia. However, there are still some small-scale and uncompetitive businesses, he noted. 

The sector is also facing fierce competition from low-price steel importers, he said, urging local firms to further update to the latest technology, equipment, improve business management, and increase regional and global integration. 

General Director of the Vietnam Steel Corporation Nghiem Xuan Da said the expo offers an opportunity for steel manufacturers in Southeast Asia to exchange information and seek solutions to improve their operational efficiency and competitive edge. 

There will be tours of local steel producers, including VnSteel Thang Long and Hung Nghiep Formosa Ha Tinh Company. 

The event will run until June 1.-VNA

Source: Vietnam+