AsemconnectVietnam - 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 up to 2030, Vision to 2050 (the Strategy).

The Strategy aims to develop the steel industry by focusing on high-quality steel products that meet national and international standards; diversifying products, gradually shifting towards high value-added, environmentally friendly products, maximizing fuel utilization, meeting domestic demand, rapidly increasing exports, enhancing competitiveness, and deeply participating in the global value chain; and transforming the product structure to gradually replace imported steel, especially alloy steel, tool steel, and special steel products for domestic manufacturing industries.
Meeting approximately 80-85% of domestic demand
By 2030, the goal is to achieve an average annual growth rate of approximately 7.0% - 8.0% in crude steel production, reaching approximately 25-26 million tonnes per year. The finished steel production is expected to grow by 5.5% - 6.5% per year, reaching approximately 32-33 million tonnes per year. The average steel consumption is projected at 270-280 kg/person/year. The steel industry's products will essentially meet approximately 80% - 85% of domestic demand and gradually increase the proportion of exports. The proportion of high value-added steel products will gradually increase: alloy steel, stainless steel, and high-quality steel serving manufacturing, production, transportation (automobiles, shipbuilding, railways), and energy sectors.
By 2035, the target is for crude steel production to grow at an average rate of approximately 6.0% - 7.0% per year, reaching an output of about 33 - 36 million tonnes per year. The finished steel production is expected to grow at 4.5% - 5.5% per year, reaching an output of about 40 - 43 million tonnes per year. The average steel consumption is projected at 340 - 360 kg/person/year. The steel industry's products will essentially meet about 85% - 90% of domestic demand and gradually increase the proportion of exports. The proportion of high value-added steel products will continue to increase: alloy steel, stainless steel, and high-quality steel serving manufacturing, production, transportation (automobiles, shipbuilding, railways), energy, and defense and security industries.
By 2050, the goal is to achieve an average annual growth rate of approximately 4.0% - 4.5% in crude steel production, reaching around 65-70 million tonnes per year. The finished steel production is projected to grow by 3.5% - 4.0% per year, reaching approximately 75-80 million tons per year. The average steel consumption is targeted at 570-650 kg per person per year. The steel industry's products will essentially meet domestic demand and gradually increase export volume. Steel products will increasingly integrate into the global steel supply chain.
Regarding development orientation, the Strategy focuses on developing products with competitive advantages and high domestic demand that are not currently produced domestically; prioritizing investment in advanced and modern steel production projects, green steel, alloy steel, steel for the manufacturing sector, and products with high competitiveness capable of participating in the global value chain. Simultaneously, we need to rapidly increase the scientific and technological content to enhance productivity and product quality to meet international standards.
Besides, we need to rationally distribute steel production space based on geographical advantages, focusing investment on large-scale projects in localities with deep-water ports to fully utilize advantages in space, infrastructure, location, renewable energy sources, and production resources; strengthen linkages in the value chain from research and raw material supply to production and product consumption.
In addition, the Strategy also provides specific directions on: priority products; raw materials; energy sources for production; development of steel industry enterprises; domestic and export/import steel consumption markets; technology; and spatial distribution.
Improving steel production capacity and quality
To realize the above objectives, the Strategy also outlines tasks and solutions regarding policy mechanisms; product consumption markets; science and technology; human resources, environmental protection, and specific solutions for steel product groups include:
Continuing to invest in technology and equipment to improve production capacity and quality for steel products in the development of the economy; steel for construction, alloy steel, fabrication steel, structural steel, galvanized and color-coated steel sheets, steel pipes, hot-rolled steel to stabilize domestic consumption and exports.
Developing domestic technology to produce high-strength steel plates, prestressed steel, steel used in prestressed reinforced concrete, corrosion-resistant stainless steel for marine and island construction, ultra-light steel for equipment in the transportation industry; cold-rolled light steel, and shipbuilding steel.
Researching steel production to meet the demand for steel materials for energy infrastructure construction, rail steel for high-speed rail development, seamless steel pipes for transporting liquefied gas, seamless steel pipes for shipbuilding, wind turbine towers, and fabrication steel for national defense and security.
CK
Source: VITIC/moit.gov.vn