Japanese steelmaker to construct factory in northern region

In spite of being warned to cut the project from its new steel master plan to 2020 with vision to 2030, Japanese steelmaker Kyoei Steel confirms its determination to revive its delayed high-quality steel project in the northern province of Ninh Binh. Kyoei Steel's plant was supposed to come into operation in 2015 (Illustration) According to newswire Nikkei, the investor will pour $200 million into the project, the construction of which is expected to start by the end of this year, with the rolling mill slated to come online in 2019 and the steelmaking facility in 2020. Earlier in March 2012, Kyoei organised the ground-breaking ceremony of the project. According to the initial plan, the project was to come into commercial operation in 2015 with a capacity of 500,000 tonnes. It was expected to become the second-largest steel project in Vietnam’s northern region after the Thai Nguyen steel project. Its capacity could rise to about one million tonnes of steel bar products when reaching full production. However, until 2016, the project had only moved at a snail’s pace, thus the Ministry of Industry and Trade (MoIT) warned to cut it from the country's steel industry development master plan. Before MoIT’s warning, Kyoei Steel remained committed to its delayed high-quality steel project and said that it blamed the delays on market oversupply, which made it difficult to sell its output. Kyoei Steel officially…... [read more]

The Ho Chi Minh City University of Foreign Languages—Information Technology (HUFLIT) and the local branch of the Vietnam-Japan Friendship Association co-hosted the event. Seminar attendees considered more than 60 presented reports on cooperation in education and training and human resources in the service of Vietnamese-Japanese ties. Many papers highlighted Japan’s support for Vietnam’s national liberation struggles as well as its ongoing national renewal, construction, and development. Participating Vietnamese scientists could draw practical lessons on education, scientific research, and human resources training, and promote cultural and linguistic exchanges between the two nations. HUFLIT Founding Council Chairman Huynh The Cuoc used his seminar address to praise the state of relations between Vietnam and Japan, highlighting their cultural similarities. He noted the considerable expansion in bilateral interactions since diplomatic ties were first established in 1973. Another seminar on promoting investment in Vietnam and encouraging the recruitment of Vietnamese apprentices was held in Tokyo earlier on October 18. Addressing the seminar, Minister of Labour, War Invalids, and Social Affairs Pham Thi Hai Chuyen said the two countries’ human resources development cooperation programmes are some of the relationship’s most successful, contributing to Vietnam’s socio-economic development. The Minister highlighted a joint programme, initiated by her ministry and Japan’s international human resources development organisation (IM Japan), that has helped 1,232 Vietnamese undertake industrial technical training in Japan. The two countries have also established nurse and medical orderly labour exchange initiatives as part of the the Vietnam-Japan Economic Partnership Agreement and another facilitating the training of disadvantaged Vietnamese…... [read more]

More than 100 representatives from local businesses and economic organisations attended the event co-organised by the Embassy of Vietnam in Japan, local provincial authorities, and the Shizuoka Chamber of Commerce and Industry. Shizuoka’s business representatives were briefed on new investment opportunities in Vietnam and the possibility of receiving Vietnamese trainees. Many delegates were optimistic about Shizuoka’s small and medium-sized (SMS) business community’s interest in Vietnam, especially in the fields of mechanics and electronics. Kyoei Yanagisawa, Chairman of the Japan's International Manpower Development Organization (IM Japan), said agreeing to receive Vietnamese trainees is only the first step in a very promising investment process for Japanese SMS businesses. The success of investment will depend on training Vietnamese manufacturing technicians with skill levels so that they can manufacture products of Japanese quality, he said. Seminar delegates discussed the possibility of establishing a Shizuoka investment support agency in Vietnam to assist its businesses interested in exploring Vietnamese opportunities.... [read more]

Japanese Consul General to HCM City Hida Harumitsu revealed this at an August 23 conference in Ba Ria-Vung Tau province commemorating 40 years of Vietnam-Japan cooperation and development. He said Japan has consistently been Vietnam’s leading official development assistance donor committing annual aid of around US$1.8 billion. Japan poured US$5.1 billion worth of investment into Vietnam last year, ranking it first among foreign investors in the country. Its investment in Vietnam reached US$4 billion in the first half of 2013 alone. The Japan Business Association (JBA) in HCM City has grown constantly, admitting a total of 643 member businesses to date. With its advantageous location and developed oil and gas industry, Ba Ria-Vung Tau has emerged as an attractive destination for Japanese investors. The province has welcomed 18 Japanese-invested projects valued at US$1.7 billion, 12 of which have already entered operation. Major conglomerations like Kyoei Steel, Nippon, Sumitomo, Itochu, and Sojitz contribute to this total. Around 3,000 Japanese tourists visit the province every year. Ba Ria-Vung Tau is actively coordinating with Japanese agencies - such as the Japan International Cooperation Agency (JICA), Japan External Trade Organisation,(JETRO), the JBA, and Japanese Dream Incubator Company - to strategise development and tailor policies conducive to additional investment. The province has also asked the Government to incentivize support industry and industrial zone investment in particular. As of July 2013, Japan had more than 2,000 valid investment projects in Vietnam capitalised at US$32.78 billion.... [read more]

Sang hailed the Vina Kyoei's achievements over the last 21 years, noting that the Japanese investor’s success is also Vietnam’s success. He said the two governments signed a number of cooperation agreements, especially in industry. The Japanese support and its world leading technology will help Vietnam’s industrial sector to thrive in the coming time, Sang added. President Sang expressed his belief that with this new project, Vina Kyoei will continue operating effectively and stimulate economic growth in the southern region and Ba Ria-Vung Tau as well. Since its operations in Ba Ria-Vung Tau in 1994 with investment of US$69 million, Vina Kyoei has manufactured 6 million tonnes of steel for construction and the expansion of the plan is expected to help double the firm’s production. As the first joint venture between Japan and Vietnam in manufacturing steel, Vina Kyoei targets to increase its annual productivity to 800,000-1,000,000 tonnes of steel to meet the growing demand in the Vietnamese market.... [read more]

President Sang visited several industrial zones and explored local fishermen's living conditions at Cat Lo offshore port, saying the Party and State have always created favorable conditions for local people’s fishing activities. Also on the same day, he visited staff and workers from the specialized Phu My industrial zone, calling on them to focus on manufacturing agricultural, transportation, and construction machinery. Earlier, he attended an inaugural ceremony for the expanded construction of a steel plant invested by Japanese steelmaker Vina Kyoei in the Phu My I Industrial Park in Tan Thanh district, the southern province of Ba Ria-Vung Tau.... [read more]

Viet Nam’s steel industry plans to produce 5.5 million tonnes of crude steel and 5.8 million tonnes of rolled steel this year, according to the Ministry of Industry and Trade. A steel production line of VINA KYOEI Steel Limited Company in Phu My 1 Industrial Zone in Ba Ria – Vung Tau Province. These figures represent a year-on-year increases of 16.6 per cent and 18 per cent respectively. The combined output of 11.3 million tonnes will fully meet domestic demand, especially for steel ingots, steel beams and cold-rolled steel, the ministry said. Meanwhile, the Viet Nam Steel Association (VSA) said production would continue to grow, but at a slower pace than in 2016. The total steel output for this year is estimated to increase 12 per cent year-on-year to reach 19.6 million tonnes. This year, the ministry will use trade barriers to ensure fair competition with steel imports and also follow closely the impact of such measures on domestic production and consumption. The ministry has directed steel enterprises to upgrade production technologies and save production costs to become more competitive. They should also have flexible monthly and quarterly plans to build a distribution network and promote their brands. VSA Chairman Ho Nghia Dung said the association will continue to propose development policies for the steel industry. It will also monitor the market for raw materials and semi-processed products that have a direct impact on the domestic market, including iron ore, scrap steel, steel ingots and hot-rolled steel in order to…... [read more]

HÀ NỘI - Việt Nam's steel industry plans to produce 5.5 million tonnes of crude steel and 5.8 million tonnes of rolled steel this year, according to the Ministry of Industry and Trade. These figures represent a year-on-year increases of 16.6 per cent and 18 per cent respectively. The combined output of 11.3 million tonnes will fully meet domestic demand, especially for steel ingots, steel beams and cold-rolled steel, the ministry said. Meanwhile, the Việt Nam Steel Association (VSA) said production would continue to grow, but at a slower pace than in 2016. The total steel output for this year is estimated to increase 12 per cent year-on-year to reach 19.6 million tonnes. This year, the ministry will use trade barriers to ensure fair competition with steel imports and also follow closely the impact of such measures on domestic production and consumption. The ministry has directed steel enterprises to upgrade production technologies and save production costs to become more competitive. They should also have flexible monthly and quarterly plans to build a distribution network and promote their brands. VSA Chairman Hồ Nghĩa Dũng said the association will continue to propose development policies for the steel industry. It will also monitor the market for raw materials and semi-processed products that have a direct impact on the domestic market, including iron ore, scrap steel, steel ingots and hot-rolled steel in order to provide timely information to local enterprises, he said. Construction steel boom The steel industry turned out 17.5 million tonnes of…... [read more]

The Ministry of Industry and Trade (MoIT) has conducted a review and is making preparations for imposing safeguard duties on steel imports, after 18 domestic steel manufacturers called for assistance. Mr. Nguyen Van Sua, Deputy Chairman of the Vietnam Steel Association (VSA), said that Vietnam’s steel industry hasn’t focused on producing steel wire as domestic demand for the products is low. However, since duties were imposed on products coded HS7227.90.00, domestic manufacturers have moved to produce the products. According to Mr. Nguyen Phuong Nam, Deputy Head of the Vietnam Competition Authority (VCA) under MoIT, trade defense measures are an effective tool in protecting domestic manufacturers in any country. If they are not used in this case then the domestic industry may go bankrupt and steel imported from China could then manipulate the market. He added that imposing trade defense measure must comply with procedures. “Trade defense is the last tool to protect domestic industry, not just any individual company,” he said. The VCA will continue to collect opinions from domestic steel enterprises until December 31 and will then submit a proposal to the Office of the Government. The management agency also said that steel production in Vietnam has recovered thanks to the imposition of temporary safeguard measures. The volume of imports has fallen while steel production in the country has grown. Volume of steel imports with two codes, 10M 2016 Unit: ton Earlier, 18 domestic steel manufacturers, including Hoa Phat, the Thai Nguyen Iron and Steel JSC, Pomina, Vina Kyoei,…... [read more]

The Ministry of Industry and Trade (MoIT) has conducted a review and is making preparations for imposing safeguard duties on steel imports, after 18 domestic steel manufacturers called for assistance. MoIT has worked with 20 steel manufacturers and importers regarding the sharp increase in the volume on steel imports coded HS7213.91.90 after imposing safeguard duties on steel imports coded HS7227.90.00 in April. Mr. Nguyen Van Sua, Deputy Chairman of the Vietnam Steel Association (VSA), said that Vietnam’s steel industry hasn’t focused on producing steel wire as domestic demand for the products is low. However, since duties were imposed on products coded HS7227.90.00, domestic manufacturers have moved to produce the products. According to Mr. Nguyen Phuong Nam, Deputy Head of the Vietnam Competition Authority (VCA) under MoIT, trade defense measures are an effective tool in protecting domestic manufacturers in any country. If they are not used in this case then the domestic industry may go bankrupt and steel imported from China could then manipulate the market. He added that imposing trade defense measure must comply with procedures. “Trade defense is the last tool to protect domestic industry, not just any individual company,” he said. The VCA will continue to collect opinions from domestic steel enterprises until December 31 and will then submit a proposal to the Office of the Government. The management agency also said that steel production in Vietnam has recovered thanks to the imposition of temporary safeguard measures. The volume of imports has fallen while steel production in the…... [read more]




Links Topics : http://news.c10mt.com/2017/08/japanese-steelmaker-to-construct.html