Vietnam Seeking Measures to Develop Cast Iron Industry

The Vietnam Cast and Metallurgy Technical and Scientific Association has proposed urgent measures for sustainable development of the cast iron industry to the Government.

 

Foreign investors should not be allowed to hold a 100% stake of cast iron projects, and Vietnamese investors’ stakes in joint ventures may be below 50% stake in the initial period, but should be increased in the next period in order to help Vietnam avoid control of foreigners in the industry, suggested the association.

 

The government should revise the number and scale of metallurgy projects to avoid supply surplus and waste of natural resources.

 

The Ministry of Natural Resources and Environment and other ministries and agencies are proposed to strictly supervise licensed projects and immediately revoke those with wrongdoings. 

 

Together with improving human resource training for this industry, the government should issue standards on production technology and equipment to suitably development the industry. (Vietnam & World Economy)