Vietnam’s Vingroup has officially established VinMetal Joint Stock Company for Manufacturing and Trading, marking its expansion into the country’s metallurgy industry, according to media reports.
VinMetal is launching with an initial investment of VND 10 trillion ($379.35 million) to build a high-tech steel production complex in Vũng Áng, Hà Tĩnh. The first phase will have a planned capacity of 5 million mt per year, positioning VinMetal as a major new player in Vietnam’s domestic steel supply chain.
Product portfolio and market focus
The company will focus on a diverse product mix:
- Hot rolled and high-strength steel for civil construction,
- Specialized alloy steels for electric vehicles and high-speed transportation,
- High-quality sheet steel and automotive body steel,
- Rails and structural steel meeting international standards for bridges, ports, and railways.
These products will serve both domestic infrastructure demand and, over time, regional export markets.
In the long term, VinMetal plans to become a leader in green steel production in Vietnam by applying carbon-reducing technologies and using renewable energy in its processes. This will support Vietnam’s broader climate and sustainability goals while modernizing its steel industry.
Strengthening industrial competitiveness
By localizing steel production, Vingroup aims to reduce reliance on imports, strengthen Vietnam’s industrial competitiveness and position the country as a regional manufacturing hub.