Currently, local production of hot rolled coil, a key input material for cold-rolled steel and other pre-painted galvanized steel sheet, cannot meet domestic demand.

The neighboring country remained Vietnam’s leading supplier of steel over the last three years, with the quantity and value growing at two-digit growth rates annually.

Despite trade protection measures from the authority, Vietnam’s steel imports continue to surge.

The construction industry grew 4.5% year-on-year during the first six months of 2020, which was higher than the GDP growth rate of 1.8%.

Given the current Covid-19 impacts on the economy, closer supervision on products having significant impacts on the economy is required.