Steelmaker Hoa Phat smashes sales, exports records
Steelmaker Hoa Phat set new records in sales and exports after the group sold 250,000 tonnes of construction steel in October, with 40,000 tonnes shipped abroad.
Hanoi (VNA) – Steelmaker Hoa Phat set newrecords in sales and exports after the group sold 250,000 tonnes ofconstruction steel in October, with 40,000 tonnes shipped abroad.
According to Hoa Phat Group, its steel sales increased 7percent year on year to 1.7 million tonnes in the first 10 months of 2018. Thequantity earned the producer approximately 42 trillion VND (1.8 billion USD) inrevenue and more than 6.8 trillion VND (292.7 million USD) in post-tax profit, up24 percent and 22 percent from the same period last year, respectively.
In the third quarter alone, the company generated nearly14.4 trillion VND (617.2 million USD) in turnover and more than 2.4 trillionVND (102.9 million USD) in post-tax profit, both up 13 percent year on year.
The firm expects to keep the momentum going for sales tohit 4 million tonnes in 2019 and 5 million tonnes in 2020. This year, it aimsto sell 2.3 million tonnes of steel.
Hoa Phat is currently constructing the 3-billion-USD HoaPhat Dung Quat steel complex in the central province of Quang Ngai. The projectis set to start operation on a trial basis in late 2019.
Once fully operational, it is expected to help thesteelmaker gain at least 30 percent of the domestic market share, up from itscurrent share of 22.2 percent.
The company has distributed thousands of tonnes ofhigh-quality wire-drawing steel made from steel sheets by another Hoa Phatsteel complex in the northern province of Hai Duong. It is the only steelmakerin Vietnam qualified to supply wire rod steel to Canada, the United States andthe Republic of Korea.
In 2017, Hoa Phat Group’s revenue reached 46.8 trillionVND (2.05 billion USD), up 38 percent from 2016, and hit a record post-taxprofit of 8 trillion VND (351 million USD), surpassing its target by 33percent, up 21 percent year on year.
The group’s steel business was the biggest contributor tothese results, making up 90 percent of total revenue and post-tax profit.
Last year, Hoa Phat exported some 200,000 tonnes of steel products. –VNA
A delegation of investors from the Republic of Korea (RoK) has visited Hoa Phat Group, one of the three largest steel producers in Vietnam, to seek partnership opportunities.
The Hoa Phat Dung Quat Steel JSC has announced that it will apply SAP S/4HANA, a next-generation enterprise resource planning (ERP) software, for its iron and steel production complex.
Hoa Phat has posted revenue and post-tax profit gains of nearly 27.6 trillion (over 1.19 billion USD) and over 4.4 trillion VND (190 million USD) in the first half of 2018, representing rises of 30 percent and 27 percent from the same period last year, respectively.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
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.
Illustrative image (Source: VNA) 
