Saudi Arabia’s Zamil eyes greater market share in structural steel
Zamil Steel Buildings Vietnam plans to expand its operations and take a bigger market share in structural steel, general director Krishnakanth Kodukula said Friday.
Speaking at a function organized to mark the 25th anniversary of the Saudi Arabia-headquartered firm’s first factory in Vietnam, Kodukula said the domestic steel market is set to see fundamental changes in the next five years as the country furthers regional and global integration.
He said the firm has been investing significantly in digitalization and Industry 4.0 technology in order to provide products and services with higher quality and innovation to customers.
Such investments indicate the high hopes that Zamil pins on Vietnam and ASEAN markets, Kodukula added.
A steel building product of Zamil Steel Vietnam. Photo courtesy of the company.
Abdulla Mohammed Al Zamil, chairman of the Zamil Industrial Investment Company, said in a Hanoi meeting with Deputy Minister of Foreign Affairs Pham Quang Hieu, also last Friday, that his company’s decision to expand its production in Vietnam was based on the country’s open and transparent investment environment.
Hieu responded that Vietnam always facilitates operations of businesses from the Middle East and urged Zamil Industrial to encourage other Saudi Arabian firms to invest in Vietnam.
After entering Vietnam in 1993, Zamil Vietnam launched two factories in 1997 (Hanoi) and 2008 (Dong Nai province) with a total output of 120,000 tons a year, becoming one of Southeast Asia's biggest steel building producers. The firm has supplied materials to 7,000 projects in the Asia-Pacific region, including 2,000 in Vietnam.
Major projects of Zamil Steel Vietnam include Pit building of F1 race track in Hanoi, VinFast's auto factory, airports in Cambodia’s Phnom Penh and Siam Reap, and a petrochemical complex of Petronas in Malaysia.
In the first eight months of this year, Vietnam produced 20.81 million tons of steel, down 5.8% year-on-year; and sold 19.26 million tons, down 1.6%. The sold steel included 4.56 million tons of exports, down 7.4% year-on-year.
- Related News
- Read More
Vietnam benchmark VN-Index’s plunge opens up buying opportunities: expert
The 4.11% drop of the VN-Index on Tuesday after hitting an all-time high is "reasonable" and "could set a new price base for incoming capital flows", said Tran Hoang Son, director of market strategy at VPBank Securities (VPBankS).
Finance - Wed, July 30, 2025 | 12:24 am GMT+7
Central Vietnam province okays Hoa Phat's $393 mln railway track project
The Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority on Tuesday gave in-principle approval to a $393 million rail track and special steel project by Hoa Phat Dung Quat Rail and Special Steel JSC, a subsidiary of steel giant Hoa Phat.
Industries - Tue, July 29, 2025 | 5:19 pm GMT+7
Vietnam benchmark VN-Index plunges 64 points after historic peak
The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), plummeted by 64.01 points, or 4.11%, to close at 1,493.41 on Tuesday due to a sharp and broad-based sell-off, just one day after hitting an all-time high.
Finance - Tue, July 29, 2025 | 4:56 pm GMT+7
US semiconductor manufacturer Coherent inaugurates its third Vietnam facility
Coherent Corp., a leading semiconductor producer in the U.S., on Monday inaugurated its third Vietnam factory, located in the southern province of Dong Nai.
Industries - Tue, July 29, 2025 | 3:42 pm GMT+7
Trung Nam Group’s solar power unit reports $5.3 mln in 2024 after-tax profit
Trung Nam Thuan Nam Solar Power Co., Ltd., a subsidiary of Vietnamese private conglomerate Trungnam Group, has announced a strong financial recovery in 2024, with an after-tax profit of VND138 billion ($5.28 million).
Companies - Tue, July 29, 2025 | 1:30 pm GMT+7
Southern Vietnam port operator Phuoc An posts heavy loss as forecast
Dong Nai province-based Petrovietnam Phuoc An Port Investment and Operation JSC (UPCoM: PAP) reported a post-tax loss of over VND125 billion ($4.78 million) in Q2/2025, its highest quarterly loss to date, due to revenue falling short of covering cost of goods sold and financial expenses.
Companies - Tue, July 29, 2025 | 10:37 am GMT+7
Council formed to appraise investment proposals for Cai Mep Ha downstream port complex in HCMC
A state appraisal council will be established to review investment proposals for the Cai Mep Ha downstream port complex project in Ho Chi Minh City, under a decision recently signed by Deputy Prime Minister Tran Hong Ha.
Economy - Tue, July 29, 2025 | 10:12 am GMT+7
Vietnam's pharma major Phytopharma posts 24% decline in Q2 profit
Ho Chi Minh City-headquartered Phytopharma, one of the leading pharmaceutical firms in Vietnam, reported an after-tax profit of VND15 billion ($57,340) in the second quarter of this year, down 24% year-on-year.
Companies - Tue, July 29, 2025 | 9:30 am GMT+7
Vietnam Rubber Group proposes renewable energy investment in central province
The state-controlled Vietnam Rubber Group (VRG) is eyeing opportunities to study renewable energy development on rubber plantation land in the central province of Gia Lai, in line with a new resolution by local authorities.
Companies - Tue, July 29, 2025 | 8:00 am GMT+7
Vietnam's retail giant Mobile World posts record revenue in Q2
Mobile World Investment Corporation (MWG), a leading retailer in Vietnam, delivered its highest-ever quarterly revenue in Q2/2025, rising nearly 10% from a year earlier to over VND37.52 trillion ($1.44 billion).
Companies - Mon, July 28, 2025 | 4:23 pm GMT+7
Techcombank named domestic retail bank of the year by Asian Banking & Finance for 4th consecutive year
Techcombank has been named Domestic Retail Bank of the Year - Vietnam at the Asian Banking & Finance Retail Banking Awards 2025.
Companies - Mon, July 28, 2025 | 3:06 pm GMT+7
Navigating tariff shocks: Vietnam’s path forward through diversification
Market diversification is not a choice but an urgent necessity for Vietnam to safeguard export growth and mitigate risks from global policy and market fluctuations, writes Huong Vu, general director of EY Consulting Vietnam Joint Stock Company and vice chairwoman of Vietnam's Association of Foreign Invested Enterprises (VAFIE).
Consulting - Mon, July 28, 2025 | 2:16 pm GMT+7
UK Jadestone Energy seeks more cooperation with Petrovietnam
UK Jadestone Energy, an independent upstream production and development company focused on the Asia-Pacific region, is eyeing opportunities to further cooperate with Vietnam's state giant Petrovietnam.
Energy - Mon, July 28, 2025 | 10:30 am GMT+7
Malaysia urges strengthening intra-ASEAN trade
Malaysia is focusing on strengthening the ASEAN economic framework by boosting intra-bloc trade to ensure the continuity of the region’s agenda, Malaysian Foreign Minister Datuk Seri Mohamad Hasan said last Thursday.
Southeast Asia - Mon, July 28, 2025 | 10:26 am GMT+7
Vietnam's fertilizer major PVFCCo launches new product using 100% potassium sulphate
Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo or Phu My Fertilizer), has officially introduced its new product to the market: NPK PHU MY 15-15-15+5S+TE SOP, an advanced nutritional solution that contributes to the sustainable development of Vietnam’s agricultural sector.
Companies - Mon, July 28, 2025 | 10:19 am GMT+7
Vietnam insurer MIC earns B++ credit rating, sets sights on becoming regional leading digital insurer
Vietnam’s Military Insurance Corporation (MIC), listed on the Ho Chi Minh Stock Exchnage as MIG, has secured a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good), both with a stable outlook, from global credit rating agency AM Best.
Finance - Mon, July 28, 2025 | 9:55 am GMT+7
