In the context that the economy is gradually recovering and construction activities are gradually vibrant again, public investment continues to be considered an important growth driver of Vietnam’s steel industry. A series of large-scale infrastructure projects are being implemented across the country, not only contributing to promoting economic growth but also creating strong demand for steel consumption in the medium and long term.
Transport infrastructure opens a new growth cycle for the steel industry
According to market assessments, the period 2026–2030 is expected to witness the largest wave of infrastructure investment ever in Vietnam. The public investment capital allocation plan in 2026 is expected to reach about VND 995,000 billion, an increase of more than 30% compared to the implementation level in 2025. If additional capital is added, the total scale of public investment can reach over 1 million billion VND, equivalent to nearly 7.85% of GDP.
Not only focusing on short-term goals, the total medium-term public investment capital in the 2026-2030 period is forecast to reach about 8.22 million billion VND, nearly 2.7 times higher than the previous period. This huge capital will be prioritized for national key projects such as the North-South high-speed railway, Long Thanh airport, ring roads in Hanoi and Ho Chi Minh City. Ho Chi Minh City, inter-regional highway systems, seaports and many large-scale energy projects.
The strong increase in infrastructure projects is expected to lead to a great demand for construction materials, especially construction steel for roads and bridges, railway stations, airports and key technical works. This is considered an important driving force to help the steel industry maintain its growth momentum in the coming years.
Public investment creates a stable demand source for steel enterprises
Unlike the real estate market, which is often affected by economic cycles and credit fluctuations, public investment is more stable thanks to being implemented according to the Government’s long-term plan. This helps form a sustainable demand for the steel industry, especially the construction steel segment.
Many businesses in the industry now expect that the disbursement of public investment capital will continue to be accelerated, and at the same time, new infrastructure projects will be started as planned. As the demand for infrastructure construction remains high, domestic steel consumption will also be significantly supported.
In addition, the increase in public investment also contributes to promoting many related fields such as transportation, logistics, industrial production and services, thereby creating a positive spillover effect on the entire supply chain of building materials.
Industrial parks and urbanization continue to drive steel demand
In parallel with the development of transport infrastructure, the process of expanding industrial parks, logistics centers and new urban areas is also creating a significant growth momentum for the steel industry.
Many localities across the country are actively expanding industrial land funds, improving the transportation system and promoting the attraction of foreign direct investment (FDI). The emergence of large-scale manufacturing plants leads to the need to build factories, warehouses, technical infrastructure and auxiliary works.
This trend not only helps increase steel consumption but also expands the market for domestic construction material manufacturers.
A series of large-scale infrastructure projects are being implemented across the country, not only contributing to promoting economic growth but also creating strong demand for steel consumption in the medium and long term.
Increasing demand for high-quality steel
Along with the development of large-scale projects and increasing technical requirements, the market is tending to prioritize the use of high-quality steel lines to ensure bearing capacity, durability and long service life.
This forces steel enterprises to continue to invest in modern production technology, improve product quality and improve competitiveness. The shift to high-value-added steel lines not only meets the requirements of key projects but also creates a foundation for the sustainable development of the industry in the future.
Positive outlook for Vietnam’s steel industry
In the context that Vietnam continues to promote infrastructure investment, industrial development and promote urbanization, the steel industry is assessed to still have a lot of room for growth in the medium and long term.
In addition to increasing output, the steel industry development strategy in the coming time also aims to increase the proportion of high-quality steel, strengthen domestic production capacity and improve competitiveness in the international market. This will be an important foundation to help Vietnam’s steel industry not only meet domestic demand but also gradually participate more deeply in regional and global supply chains.
With strong support from public investment programs and the trend of infrastructure development on a large scale, the steel industry is facing the opportunity to enter a new stage of growth, contributing positively to the country’s economic development in the coming years.
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