Hoa Phat Group hopes to earn more than 100 trillion VND in revenue by 2020, the year the Hoa Phat Dung Quat iron and steel production complex is expected to become fully operational.
Tran Dinh Long, Chairman of the Director Board of Hoa Phat Group (Source: hoaphat.com)
Hanoi (VNA) – Hoa Phat Group (HPG) said it hopesto earn more than 100 trillion VND (4.4 billion USD) in revenue by 2020, theyear the Hoa Phat Dung Quat iron and steel production complex is expected tobecome fully operational.
Earning this amount of revenue will mean HPG contributes some10 trillion VND (440 million USD) to the State budget.
The Hoa Phat Dung Quat iron and steel production complex,based in the central province of Quang Ngai, is expected to cost 52 trillionVND (2.2 billion USD) and have annual capacity of 4.5 million tonnes.
The project will use state-of-the-art technologies providedby the Netherlands, Italy and Germany.
HPG plans to allocate 30 percent of the project’s investmentcapital to environmental components. Once completed, the project is hoped tolift the group to among the world’s top 50 steel producers.
In 2017, the group earned 46.8 trillion VND (2.05 billion USD),up 38 percent from 2016, and hit a record post-tax profit of 8 trillion VND (351million USD), surpassing its target by 33 percent, up 21 percent year on year.
Over the past ten years, subsidiaries of HPG have contributedmore than 20 trillion VND (878 million USD) to the State budget, equivalent tothe amount of the central province of Quang Nam, one of the nation’s top 10contributing provinces.-VNA
Hoa Phat Dung Quat Steel Joint Stock Company and Italy’s metal plants supplier Danieli Company have signed a contract to install thin slab caster and hot-rolled mill for the Hoa Phat Dung Quat iron and steel production complex in the central province of Quang Ngai.
The list of top 500 largest Vietnamese enterprises (VNR500) was announced in Hanoi on January 19, with the number of private companies in the list rising by 2.5 times in 2017 since the rankings were first made 10 years ago.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Tran Dinh Long, Chairman of the Director Board of Hoa Phat Group (Source: hoaphat.com) 
