Vietnam's biggest supplier of stainless steel Posco VST
has said that it might cut production and close several factories.
The move was due to poor
competitiveness of domestic products compared to imported ones, despite a 5 per
cent rise in import tax next year, according to the company.
Posco VST manufacturers
stainless steel in the southern province of Dong Nai with a capacity of 85,000
tonnes per year and has been building another US$130-million manufacturing plant
since 2010 which will become operational next year.
Vietnam News
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