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.

March 06, 2012 7:35 PM GMT+7

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