In the context of the global economy continuing to restructure strongly, Vietnam is making a clear mark on the world industrial map with a series of positive signals from the steel industry, supporting industries and green investment capital flows. These movements not only reflect the resilience of the economy but also open up many opportunities for Vietnamese businesses to participate more deeply in the global value chain.
Vietnam enters the Top 10 largest steel-producing countries in the world for the first time
According to newly released data from the World Steel Association (Worldsteel), Vietnam’s crude steel output in April 2026 will reach about 2.1 million tons, up 4% over the same period last year. This achievement has helped Vietnam surpass Italy to participate in the group of 10 largest crude steel producing countries in the world for the first time.
This is considered an important milestone of Vietnam’s steel industry after many years of investment in expanding scale and improving production capacity. If in the early 2000s, the domestic steel industry was still heavily dependent on imported billets, up to now, Vietnam has actively produced a variety of steel types to serve from construction, mechanical engineering, energy to defense industry.
Many large-scale and modern steel production complexes have been put into operation, typically Hoa Phat Dung Quat Iron and Steel Complex with the ability to produce high-quality steel lines such as mechanical steel, automobile tire steel, welding wire steel, prestressed steel or high-speed rail rail steel.
In 2025, Vietnam’s crude steel output will reach about 24.6 million tons, ranking first in Southeast Asia and ranking 11th in the world. With the current growth momentum, the Top 10 position is expected to continue to be maintained in the coming years.
Global supply chain restructuring opens up new opportunities for Vietnamese businesses
In parallel with the development of the steel industry, the trend of restructuring the global supply chain is also creating great opportunities for Vietnamese businesses.
Geopolitical fluctuations, the “China +1” strategy, sustainable development requirements and ESG standards are causing many international corporations to accelerate production shifts to countries with a more stable investment environment. With geopolitical advantages and a network of 17 implemented free trade agreements (FTAs), Vietnam is emerging as an attractive destination for global production capital flows.
The expansion of investment by large corporations such as Apple, Samsung, Intel, Foxconn or Pegatron has led to an increasing demand for supply localization. This opens up opportunities for Vietnamese businesses to participate more deeply in the supply chain instead of just stopping at simple outsourcing roles.
However, to take advantage of this opportunity, domestic enterprises are forced to upgrade their management and production capacity according to international standards. Models such as Lean Manufacturing, Six Sigma or smart factories are becoming an inevitable trend to improve operational efficiency and meet strict requirements from global partners.
Vietnam rises to the top 10 largest steel-producing countries in the world: A new impetus for global industry and supply chains
Australia invests US$10 million to support climate businesses in Vietnam
In another notable development, the Australian Government has just announced an investment of up to 10 million USD to support Vietnamese businesses in the field of climate and sustainable development.
This investment will focus on supporting small and medium-sized enterprises in the growth phase, promoting the energy transition, sustainable consumption, and developing artificial intelligence (AI)-based climate solutions.
Through investment funds, the program has now supported dozens of SMEs in Vietnam, contributing to job creation, expanding access to finance and promoting the development of renewable energy.
This move shows that Vietnam is increasingly attracting the attention of international investors in the field of green technology and sustainable development, and at the same time creates more motivation for domestic businesses to promote green transformation.
Supporting industries towards technology autonomy and digital transformation
The Government has also just approved the “Supporting Industry Development Program for the period 2026 – 2035”, aiming to improve the localization rate and strengthen the capacity of enterprises to participate in the global supply chain.
According to the new orientation, the development of supporting industries will be associated with technological innovation, digital transformation, automation application and sustainable development. Prioritized industries include smart electronics, mechanical engineering, automotive, high-tech, textiles and footwear.
The goal is that by 2035, many of Vietnam’s supporting industries will reach the level of advanced technology, products meet international standards and participate more deeply in the global value chain.
Hanoi proposes many incentives for private enterprises
At the local level, Hanoi is also developing many preferential policies to promote the development of private enterprises.
According to the new proposal, enterprises investing in industrial parks or technology incubators can be supported up to 20% of infrastructure costs, reduce land rent and support the cost of building product research and development centers.
In particular, the city plans to support 100% of the funding for training, trade promotion and international market connection to help businesses expand export activities.
These policies are expected to create more motivation for the domestic business community to improve competitiveness, innovate technology and participate more deeply in the global supply chain.
In the context of a volatile world economy, positive signals from the steel industry, supporting industries and investment attraction policies show that Vietnam is facing a great opportunity to break through, gradually affirming its new position on the map of industry and international trade.
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