Deputy Prime Minister Bui Thanh Son signed Decision No. 261/QD-TTg dated February 9, 2026 approving the Strategy for Steel Industry Development to 2030, vision to 2050 (Strategy).
The strategy aims to develop the steel industry in the direction of focusing on high-quality steel products that meet national and international standards; diversifying products, gradually transitioning to products with high added value, environmentally friendly, maximizing fuel sources, meeting domestic consumption needs, rapidly increasing exports, competitiveness and deeply participating in the global value chain.
Converting product structure to gradually replace imported steel, especially alloy steel, tool steel and special steel products for domestic manufacturing industries.
By 2030, strive for raw steel production to grow on average by about 7.0% - 8.0%/year, with output reaching about 25 - 26 million tons/year.
Finished steel grew from 5.5% - 6.5%/year, output reached about 32 - 33 million tons/year.
Steel consumption averages 270 - 280 kg/person/year.
Steel industry products basically meet about 80% - 85% of domestic demand and gradually increase export proportion.
Gradually increase the proportion of high value-added steel products: alloy steel, stainless steel, high-quality steel serving the manufacturing, manufacturing, transportation (cars, shipbuilding, railways), and energy industries.
The goal by 2035 is that crude steel production will grow on average by about 6.0% - 7.0%/year, with output reaching about 33 - 36 million tons/year.
Finished steel grew from 4.5% - 5.5%/year, output reached about 40 - 43 million tons/year.
Steel consumption averages 340 - 360 kg/person/year.
Steel industry products basically meet about 85% - 90% of domestic demand and gradually increase export proportion.
Continue to increase the proportion of high value-added steel products: alloy steel, stainless steel, high-quality steel serving manufacturing, manufacturing, transportation vehicles (cars, shipbuilding, railways), energy, national defense and security steel.
By 2050, steel production will reach about 75 - 80 million tons/year; average consumption 570 - 650 kg/person/year
Striving to 2050, crude steel production will grow on average by about 4.0% - 4.5%/year, with output reaching about 65 - 70 million tons/year.
Finished steel grew from 3.5% - 4.0%/year, output reached about 75 - 80 million tons/year.
Steel consumption averages 570 - 650 kg/person/year.
Regarding development orientation, the strategy focuses on developing products with advantages and high demand that are currently not produced domestically; focusing on investing in advanced and modern technology steel production projects, producing green steel, alloy steel, steel for the manufacturing industry, products with high competitiveness and sufficient capacity to participate in the global value chain.
Continue to invest in technology and equipment to improve production capacity and quality for the group of steel products in economic development; steel for construction, alloy steel, manufactured steel, shaped steel, metal-plated and color-coated steel, steel pipes, hot-rolled steel to stabilize domestic consumption and export.
