Vingroup invests VND 10 trillion to enter the steel industry

With a total investment of VND 10 trillion, VinMetal aims to both supply materials for Vingroup’s ecosystem and contribute to the growth of Vietnam’s heavy industry.

VinMetal will focus on producing high-quality steel products, including automotive-grade sheet steel and body stamping steel for VinFast electric vehicles, as well as hot-rolled steel, high-strength steel, and specialty alloy steels. The company targets international standards, aiming to replace imports and expand exports to regional markets.

Beyond automotive applications, VinMetal plans to supply steel for key national infrastructure projects, such as the North–South high-speed railway, HCMC–Can Gio expressway, and Hanoi–Quang Ninh line.

According to Vingroup, domestic steel production will help secure raw material supply, reduce import dependence, and enhance Vietnam’s industrial capacity, strengthening the nation’s competitive position in the global manufacturing landscape.

In the long term, VinMetal aims to become a leading green steel producer, adopting low-carbon technologies and renewable energy reuse systems, thereby driving sustainable growth for Vietnam’s metallurgy and heavy industries.