Vietnam Economic Times has the title "Vietnam's steel industry is facing the gradual loss of market crisis." Analysis of the challenges of Vietnamese steel enterprises.
Reported in the analysis of the reasons: First, in the face of competitive pressure in China. China's iron and steel annual production of 700 million tons, accounting for 50 percent of world production, as long as five percent (35 million tons / year) steel into the ASEAN market, not only in Vietnam, the competition of the ASEAN countries in the region is enormous pressure. Secondly, the Vietnamese iron and steel "overeating" increasingly serious. Although the first seven months of iron and steel stocks reached 370,000 tons, production capacity is surplus, but some big steel project also launched (total capacity of about 18 million tons / year) people have to worry about underemployment. Reported that the foreign shares of the joint-venture steel mill in China up to 30%; Vietnam allows 100% foreign capital to enter also give preferential treatment. When the Chinese steel use decline, the Chinese iron and steel products will occupy most of the market in Vietnam. Third, to 2015, the steel import tariff free trade zone reduced to 0%, the competition in the domestic steel enterprises and Chinese enterprises will be very cruel, if the Vietnamese iron and steel enterprise funds, backward technology, high energy consumption, poor product quality, will only cut-off, bankruptcy, or China mergers and acquisitions.
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