The Vietnamese Iron and Steel Industry in Transition to a Market Economy -Attainments and Challenges-

Nozomu Kawabata

No 349, TERG Discussion Papers from Graduate School of Economics and Management, Tohoku University

Abstract: The aim of this paper is to examine the attainments and challenges of the iron and steel industry in Viet Nam. The demand for steel in Viet Nam is increasing, with a focus on construction steel. While low-level industrialization is a restraining factor for the industry, the high steel intensity of the economic structure is a promotional factor. Steel production is increasing in line with domestic demand. Private and foreign-affiliated enterprises are the main players in the expansion of steel production. Market selection based on survival of the fittest is working well. In general, the transition to a market economy is showing considerable results in Viet Nam. However, the industry still faces some challenges. While the low operating ratio due to excess capacity is a by-product of market-oriented reform rather than governmental intervention, the poor performance and governmental support of state-owned enterprises show an insufficiency of reform.

Pages: 45 pages
Date: 2016-05
New Economics Papers: this item is included in nep-sea and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:toh:tergaa:349

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