|Producing steel billets at a factory in Vietnam (Photo: VNA)
On July 18, 2016, the Minister of Industry and Trade (MoIT) decided to take the global safeguard measure on steel billets and long steel products imported into Vietnam. The measure is applied for four years, from March 22, 2016 to March 21, 2020.
On May 31 this year, the TRAV, an agency of the MoIT, issued an announcement asking domestic companies that want to seek a sunset review of the safeguard measure to submit dossiers.
In July, four steel companies submitted sufficient documents, the TRAV said, adding that within 30 days since the dossier reception, it will verify those documents to submit them to the MoIT minister for consideration of whether or not the sunset review will be conducted.
The TRAV has also called on other domestic businesses to provide relevant information to serve the verification.
Data of the MoIT show that Vietnam imported 4.97 billion USD worth of steel products in the first half of 2019, up 0.8 percent from the same period last year. The biggest steel exporters to the country were China, the Republic of Korea and Japan.