Viet Nam's biggest supplier of stainless steel Posco VST in Dong Nai province has said that it might cut production and close several factories.
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Viet Nam's biggest supplier of stainless steel Posco VST in Dong Nai province 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 has 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.
(Source: VN+)
