VN to build modern steel industry
VN to build modern steel industry
The master planning of the steel industry must focus on building a modern and sustainable industry, according to Deputy Prime Minister Trinh Dinh Dung.
Dung also asked that global and domestic steel demand be reviewed as the basis of the development of a master plan to 2025 with a vision to 2035, which would aim to restructure the industry, as well as focus on its modernisation and sustainability.
The development of steel production and distribution systems must be in line with the country's socio-economic development and its international integration progress, Dung said.
Accordingly, the application of advanced technologies would be promoted to improve resources and energy efficiency, along with protecting the environment. Further, scattered production and outdated and energy-consuming technologies would gradually be eliminated.
Dung also asked ministries and authorities to tighten the management of compliance with environmental regulations by the country's steel companies. Steel plants, which fail to meet the national technical environmental standards, would be strictly handled, even shut down.
Additionally, Dung asked the Ministry of Finance to revise tax policies in order to promote the development of a sustainable industry.
Developing a sustainable steel industry became pressing for Viet Nam after alarm bells were rung following the largest-ever environmental pollution, which struck the central coast, having been caused by Taiwanese firm Hung Nghiep Formosa Ha Tinh Steel Corporation.
