Hi-tech cast production prioritized
VGP – The Ministry of Industry and Trade has given priority, mainly tax incentives, to the production of cast products using high and environmental friendly technologies.
Key cast products are used in diesel engines, manufacturing machines, and in the cement, mining, shipbuilding, port and defense industries.
According to the 2009 – 2020 national cast industry development plan, locally-manufactured cast products will replace imported ones by 2025.
The industry is set to make a production value of US $998 million in 2015, US $1,519 million in 2020 and US$3,078 million in 2025. It aims to gain export turnovers of US $50 million in 2015, US $152 million in 2020 and US $619 million in 2025.
By Ngọc Vân