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Vietnam’s steel exports to remain weak in H2
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Nguyen Tien Nghi, vice chairman of the Vietnam Steel Association (VSA) said that the country’s steel exports might remain weak in the second half of this year, due to slow economic growth in Brazil, India, China, Indonesia, Japan and the US, the major importers of the Vietnamese steel products.
Hence, if the Vietnamese government does not take any measurements, some of the Vietnamese steel manufacturers may face bankruptcy.
He suggested the government to cut the interest rate to save the local enterprises.
In fact, some banks in Vietnam have cut the loan rate to 13%; however, Nguyen Tien Nghi thinks it is still too high.
News Date
7/31/2012 9:18:32 AM
reported by
Evelyn Hu
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