Vietnam is the world's 13th largest crude steel producer and leads ASEAN in the production and consumption of steel products, with its steel industry accounting for 7% to 9% of Vietnam's total carbon emissions.

In September 2023, the Vietnam Steel Association stated that Vietnam’s steel industry aims to become carbon neutral by 2050 and is currently transitioning to a more environmentally friendly production model.

Some steel plants in Vietnam have begun to use the waste heat of the factory to generate electricity, aiming to increase energy use and reduce negative impacts on the environment.

In addition, the Vietnamese government has launched new actions and is expected to achieve carbon neutrality in the industrial and commercial sectors by 2030 and net zero emissions by 2050.