The Vietnamese Government has officially approved the National Steel Industry Development Strategy to 2030, with a vision to 2050, which assigns the domestic steel sector the task of developing and producing special-grade steels for key industries such as automotive manufacturing, shipbuilding, and high-speed rail. The move aims to strengthen domestic industrial capacity, reduce reliance on imported materials, and meet the technical requirements of advanced manufacturing sectors.

The strategy targets the industry to meet 80 to 85% of domestic demand by 2030, while gradually increasing the share of high-value-added steel products for export. Planned product categories include high-grade railway rails, alloy steels, and steels for transportation equipment and defense manufacturing.

Major local steelmakers, including Hoa Phat, have already begun investing in special steel and rail steel projects to supply future national infrastructure and industrial projects.