What is the future of Vietnamese steel industry?

This paper analyzes some key factors leading to the success of Pohang Steel Company (POSCO) in particular and of the Korean steel industry in general which is supported by the Korean Government and run by the market mechanism and the strong rise of the companies themselves. In that context, the paper makes a comparison with the Vietnam steel industry in general and Vietnam Steel Corporation (VNSTEEL) in particular to demonstrate a complete contrast with the successful story of the Korean steel industry and POSCO. Finally, the paper provides a number of policy implications such as institutional reform and resource allocation reform; review of sectoral policies and development strategies; introduction of balanced policy on exporting of iron ores and reasonable taxation; and stable, long-term design and promulgation of state policies.

Policy Research
Date Published:
Dec 30, 2014

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