[Vietnam] HCMC Strengthens Key Industry Supply Chains, Supporting Long-Term Demand for Industrial and Green Steel

Published: Aug 20, 2026 14:46

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Ho Chi Minh City plans to develop four key industry clusters—mechanical engineering, electronics and IT, pharmaceuticals-chemicals-plastics-rubber, and food processing—to strengthen domestic supply chains and improve participation in global value chains by 2030. The city will support digital and green transformation, credit, tax incentives, technology upgrades and production facilities. Steel is an important input across these supply chains, particularly in mechanical engineering, automotive, energy and high-tech manufacturing, which could support long-term demand for industrial and specialised steel. Meanwhile, the focus on green transformation and smart manufacturing is expected to accelerate the adoption and development of green and lower-carbon steel as manufacturers upgrade their production facilities and supply chains.

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