Vietnamese Government to Control Iron and Steel Capacity Investment

Vietnamese government stepped out into a brake of capacity investment for steel business. The government decided the plan not to authorize the license of new investment by iron and steel companies from now, Pham Chi. Cuong president in Vietnam Steel Association (VSA) said. VSA had floated measures to the government because electric furnaces for bar steel and cold rolling mill is increasing rapidly and excess capability was viewed with suspicion. Details including applicable condition and beginning period are still to come. Active investment by Vietnamese iron and steel companies with the high economic growth, slow down and is likely to infect iron and steel investment by foreign capital.