'R&D leader' of the coated steel industry accelerates strategy in 2026

In a conversation with VIR's Thanh Van, the leader taking the helm of NS BlueScope Vietnam shared insights into how the coated steel manufacturer with more than 30 years of presence in the Vietnamese market – plans to navigate a landscape defined by new contexts, challenges, and opportunities.

Dong Mai Lam, country president of NS BlueScope Vietnam since January 2026

How do you assess the current market landscape?

Vietnam’s steel industry in general, and the coated steel segment in particular, is entering a period that offers both fresh opportunities and emerging challenges. Despite global uncertainties, Vietnam continues to maintain its reputation as a favourable destination for foreign investors. The Vietnam Steel Association forecasts that the steel sector could grow by around 8–10 per cent in 2026.

Growth potential remains significant as public investment, commercial housing projects, and social housing programmes continue to expand. According to MBS Research, Vietnam’s construction industry is projected to grow by approximately 10 per cent in 2026, generating strong demand for green building materials for large-scale national projects.

At the same time, coated steel manufacturers are facing mounting pressure. Global geopolitical tensions may increase the risk of supply chain disruptions and could drive up logistics costs, as well as the prices of key materials such as paint and coating metals. In addition, investors have become increasingly demanding. From export markets and multinational corporations to major domestic projects, stricter environmental, social, and governance (ESG) standards are now being enforced. Investors are no longer focused solely on initial costs; instead, they increasingly evaluate total lifecycle costs, durability, corrosion resistance, and long-term performance stability.

As a result, competition in the coated steel industry is no longer defined solely by scale or production volume. It increasingly hinges on product quality, core technology, and the ability to create added value for investors.

What will be NS BlueScope Vietnam’s strategic priorities this year?

At NS BlueScope Vietnam, we have identified two parallel strategic pillars. The first is strengthening our foundation for sustainable development. NS BlueScope Vietnam is the first steel manufacturer in Vietnam and Southeast Asia to receive the ResponsibleSteel site certification, the global standard for responsible steel production. This certification reflects a robust ESG framework that has been independently verified against international standards.

In an industry traditionally associated with high emissions, achieving this certification is not only about compliance. It also contributes to raising the benchmark for responsible steel manufacturing across Vietnam’s business community. Moving forward, we will continue investing in technology, optimising operational efficiency, and integrating sustainability more deeply into both our supply chain and production activities.

NS BlueScope Vietnam reaffirms the company’s long-term commitment to the Vietnamese market

The second pillar is maintaining our leadership in innovation within the coated steel industry. NS BlueScope Vietnam has consistently contributed to the industry’s innovation journey. In 1993, we became the first company to introduce Aluminum-Zinc (AZ) coating technology to Vietnam. In 2019, we continued that innovation journey by introducing AM coating technology to the market under the ACTIVATE® for the project segment (incorporating into COLORBOND® steel and ZINCALUME® steel), and INOK® for the residential segment (incorporating into BlueScope Zacs® steel).

This technology incorporates a proprietary protective matrix coating backed by more than 20 global patents held by BlueScope Australia. It delivers superior corrosion resistance and is particularly well suited to Vietnam’s tropical monsoon climate.

In addition, we provide steel solutions (LYSAGHT®) for a wide range of applications–from agriculture and commercial buildings to large-scale industrial projects. Our products and solutions have been used in numerous landmark projects across Vietnam, contributing to elevating modern industrial architecture.

Looking ahead, we will continue to strengthen our research and development efforts to maintain our role as a trendsetter in Vietnam’s coated steel industry while delivering superior value to customers and the market. For NS BlueScope Vietnam, innovation is not limited to technology, it also extends to how we enhance customer experience.

That is an interesting perspective. Could you elaborate?

Today’s market demands more than just durable steel sheets. Customers are looking for solutions that optimise long-term costs, improve construction efficiency, and reduce maintenance risks. In response, NS BlueScope Vietnam is leveraging our strengths to move to a higher level, shifting from a traditional “material supplier” to a “comprehensive solutions and services provider.”

Integrating breakthrough technological features into our products, helping customers directly enhance productivity and investment efficiency, will remain a key priority for us.

At the same time, as digital transformation accelerates, we will invest in digital platforms integrated with AI to build a more convenient, fast, and modern digital experience for customers.

With more than 30 years of presence in Vietnam, we also understand the diverse climatic conditions and distinct construction needs across different regions. Combining 135 years of global technology standards with deep local market experience, we develop tailored solutions for each context and each customer. This is how BlueScope pursues enterprise-level solution personalisation.

Vietnam’s steel industry still holds substantial growth potential, driven by urbanisation, infrastructure development, and industrial expansion. We see 2026 as an acceleration phase in NS BlueScope Vietnam’s development strategy. Built on a foundation of innovation and a customer-centric philosophy, we will continue to reinforce our pioneering role in the coated steel sector while delivering greater value to the market.

To explore NS BlueScope Vietnam’s strategy, please click here!

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