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The decision was announced by the Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade.
The decision, realised by directive No.4460/QD-BCT signed by deputy minister Tran Quoc Khanh earlier this week, came after a complaint by two local steel makers, POSCO VST Co Ltd and Hoa Binh Inox Joint Stock Company.
The plaintiffs said that steel products from those exporters were being sold at much lower prices than locally manufactured steel.
The investigation will be conducted by the VCA on batches of products imported between April 1, 2012 and March 31, 2013.
Cold-rolled stainless steel is the third commodity Vietnam has sought anti-dumping duties for, the others being float glass and cooking oil.