Hanoi , Jan.2 (VNA) - 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 percent 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 130 million USD manufacturing plant since 2010 which will become operational next year./.
