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The Vietnamese government has implemented some major policies to support economic development, including “active support” for the real estate market, which in turn has boosted the building materials market, Trang Thi Thu Ha, VSA's chief of office, told Steel First on Friday April 17.
Ha said the surge in demand for long steel products was due to the country’s economy continuing to accelerate in the first quarter of 2015, with gross domestic product (GDP) up 6.03% compared with the same period last year.
That is the biggest first-quarter GDP increase in five years, she added.
Sales of construction steel in Vietnam rose 10.5% year-on-year to 1.29 million tonnes in the first quarter of 2015, according to the latest data from the Vietnam Steel Assn (VSA).