Amidst the ongoing and significant restructuring of the global economy, Vietnam is making a distinct mark on the world industrial map with a series of positive signals from the steel industry, supporting industries, and green investment flows. These developments 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.
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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 production in April 2026 reached approximately 2.1 million tons, a 4% increase compared to the same period last year. This achievement has helped Vietnam surpass Italy to enter the group of the world’s top 10 crude steel producing countries for the first time.
This is considered a significant milestone for Vietnam’s steel industry after years of investment in expanding scale and improving production capacity. While in the early 2000s, the domestic steel industry was heavily dependent on imported steel billets, Vietnam now proactively produces a diverse range of steel products serving construction, mechanical engineering, energy, and defense industries. What are the outstanding features of current steel production technology?
Vietnam has risen to the top 10 largest steel-producing countries in the world, a very positive sign of recovery for the steel industry in 2026. What raw materials are used to produce steel? Automated steel production line.
Many large-scale, modern steel production complexes have been put into operation, notably the Hoa Phat Dung Quat Iron and Steel Complex, which is capable of producing high-quality steel products such as mechanical engineering steel, tire cord steel, welding wire steel, prestressed steel, and high-speed railway rail steel.
By 2025, Vietnam’s crude steel production is projected to reach approximately 24.6 million tons, ranking first in Southeast Asia and 11th globally. With the current growth trajectory, this top 10 position is expected to be maintained in the coming years.
Restructuring global supply chains opens up new opportunities for Vietnamese businesses.
Alongside the development of the steel industry, the trend of restructuring global supply chains is also creating great opportunities for Vietnamese businesses. Modern steel production technology.
Geopolitical shifts, the “China +1” strategy, the demand for sustainable development, and ESG standards are prompting many international corporations to accelerate the relocation of their production to countries with more stable investment environments. With its geopolitical advantages and a network of 17 implemented free trade agreements (FTAs), Vietnam is emerging as an attractive destination for global manufacturing capital.
The expansion of investment by large corporations such as Apple, Samsung, Intel, Foxconn, and Pegatron has led to an increasing demand for localized supply chains. This opens up opportunities for Vietnamese businesses to participate more deeply in the supply chain, instead of just playing a simple outsourcing role.
However, to take advantage of this opportunity, domestic businesses must upgrade their management and production capabilities to international standards. Models such as Lean Manufacturing, Six Sigma, and smart factories are becoming inevitable trends to improve operational efficiency and meet the stringent requirements of global partners.
Alongside the development of the steel industry, the trend of restructuring global supply chains is also creating significant opportunities for Vietnamese businesses.
Australia invests $10 million to support climate businesses in Vietnam.
In another notable development, the Australian government has just announced an investment of up to US$10 million to support Vietnamese businesses in the fields of climate and sustainable development. ( Steel production process)
This investment will focus on supporting small and medium-sized enterprises in their growth phase, promoting energy transition, sustainable consumption, and developing climate solutions powered by artificial intelligence (AI).
Through investment funds, the program has now supported dozens of SMEs in Vietnam, contributing to job creation, expanding access to finance, and promoting renewable energy development.
This move shows that Vietnam is increasingly attracting the attention of international investors in the field of green technology and sustainable development, while also creating further impetus for domestic businesses to accelerate green transformation. Steel production plant: Does steel production affect the environment?
Supporting industries aim for technological self-reliance and digital transformation.
The government has also just approved the “Program for the Development of Supporting Industries giai đoạn 2026 – 2035”, which aims to increase the localization rate and strengthen the capacity of businesses to participate in global supply chains.
According to the new orientation, the development of supporting industries will be linked to technological innovation, digital transformation, automation application, and sustainable development. Priority sectors include smart electronics, mechanical engineering, automobiles, high technology, textiles, and footwear. Steel production technology. Steel production activities.
The goal is that by 2035, many of Vietnam’s supporting industries will reach advanced technological levels, produce products that meet international standards, and participate more deeply in global value chains.
Hanoi proposes various incentives for private businesses.
At the local level, Hanoi is also developing many preferential policies to promote the development of private enterprises. How is steel produced from iron ore?
According to the new proposal, businesses investing in industrial parks or technology incubators could receive support covering up to 20% of infrastructure costs, reduced land lease fees, and assistance with the construction of research and development centers.
Specifically, the city plans to provide 100% funding for training, trade promotion, and international market connections to help businesses expand their export activities.
These policies are expected to provide further impetus for the domestic business community to enhance its competitiveness, innovate technology, and participate more deeply in global supply chains.
Amidst a volatile global economy, positive signals from the steel industry, supporting industries, and investment attraction policies indicate that Vietnam is facing a great opportunity to break through and gradually assert its new position on the international industrial and trade map.
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