Illustrative image (Source: cafe.vn)The steel industry will grow 12 percent in the next two year under the impact of the Trans-Pacific Partnership (TPP), Nguyen Minh Nhut, director of BlueScope Steel Vietnam Limited, said at a press conference on October 21.
He noted that the sector itself does not benefit from tariff reduction or elimination under the TPP.
However, the TPP is expected to boost investment in other sectors, which will drive demands for construction, thus pushing up demand for steel.
The sector’s current annual growth rate is seven percent.
Australian steelmaker Blue Scope has established its facilities in Vietnam for 20 years with three factories built at a cost of 130 million USD. It manufactures a range of products for building and construction, manufacturing and automotive applications./.
