Vietnamese forging factories produced approximately 3 million tons per year according to the latest data. The large-scale steel plants and automakers in Vietnam are the main contributors to the growth of the forging industry. In 2018, VinFast, an automobile company founded by Vietnamese Vingroup, purchased several hundred fully automatic forging equipment from Italpresse Gauss to increase production efficiency and output. The Vietnamese government is also committed to promoting the development of the forging industry and providing policy support and preferential tax measures for forging enterprises. In recent years, the Vietnamese government has encouraged investment in the metal processing industry and supported steel plants and automakers with tax reductions and other assistance policies. Overall, Vietnamese forging factories have potential development opportunities and competitive advantages, and the annual production of this industry shows a trend of continuous growth.
