Vietnam sets tougher rules for steel projects

Vietnam News Service reported that Vietnam steel industry investment projects must meet certain requirements issued by the Ministry of Industry & Trade. Under the new regulations, steel investment projects must meet industry development plan standards, including: technology, equipment, source of input material, fuel, infrastructure and financial status. The circular was issued after Ministry of Industry & Trade raised concerns over a breakdown in the plan to develop the steel industry. Due to rampant licensing, many steel projects did not follow the steel industry's development plans as ratified by the government. Mr Pham Chi Cuong chairman of the Viet Nam Steel Association said that the steel industry had been developing rapidly but it lacked sustainability. He warned that the massive investment in steel projects nationwide with the establishment of steel mills in most provinces was threatening to break the steel industry's development strategy while negatively affecting the balance of energy, transportation and the environment.Adidas Fotballsko