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Vietnam rises in global ranking of steel production

Hoa Phat Group's huge investments and increasing production capacity are reshaping the Southeast Asian steel market.

Vietnam rises in global ranking of steel production

Vietnam’s steel production is experiencing remarkable growth, climbing the global crude steel production rankings from 13th to 12th, and surpassing Taiwan and Indonesia.

Leading the charge is Hoa Phat Group, Southeast Asia's prominent steel manufacturer. The company is constructing the Hoa Phat Dung Quat 2 Iron and Steel Production Complex in Quang Ngai Province. Scheduled for completion by 2025, this ambitious project aims to position Hoa Phat among the top 30 steel producers globally.

Additionally, Hoa Phat has announced plans for three major projects in Central Vietnam, further solidifying its dominance in the region. As Vietnam's steel industry grows, its increased production capacity and competitive strategies are poised to reshape the steel market across Southeast Asia and the broader Asian continent.

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