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

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  • Nozomu Kawabata

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.

Suggested Citation

  • Nozomu Kawabata, 2016. "The Vietnamese Iron and Steel Industry in Transition to a Market Economy -Attainments and Challenges-," TERG Discussion Papers 349, Graduate School of Economics and Management, Tohoku University.
    • Handle: RePEc:toh:tergaa:349
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    1. Fukunari Kimura, 2004. "New Development Strategies under Globalization: Foreign Direct Investment and International Commercial Policy in Southeast Asia," Palgrave Macmillan Books, in: Akira Kohsaka (ed.), New Development Strategies, chapter 6, pages 115-133, Palgrave Macmillan.
    2. Pei Sun, 2005. "Industrial policy, corporate governance, and the competitiveness of China's national champions: The case of Shanghai Baosteel Group," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 3(2), pages 173-192.
    3. Akira Kohsaka, 2004. "New Development Strategies: Beyond the Washington Consensus," Palgrave Macmillan Books, in: Akira Kohsaka (ed.), New Development Strategies, chapter 1, pages 1-10, Palgrave Macmillan.
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