Hanoi (VNA) – Hoa Phat Group, a multi-sectoralconglomerate, reported after-tax profit at over 7.5 trillion VND in 2019, up 13percent from its target.
Steel products contributed most to the firm’s revenueat nearly 65 trillion VND (2.8 billion USD) in 2019, accounting for more than80 percent of both total revenue and after-tax profit.
During the year, the group manufactured over 2.8million tonnes of crude steel and supplied 2.77 million tonnes of constructionsteel to the market, which rose 16.7 percent year on year. The group exported some265,000 tonnes to foreign markets like Japan, Cambodia, the Republic of Korea,Taiwan (China), Malaysia, Australia, and the US.
Hoa Phat remained the biggest steel maker inVietnam with a 26.2-percent market share, it said, noting that the company aimsto sell 3.6 million tonnes of construction steel in 2020.
The company also described 2019 a relativelysuccessful year of its agricultural arm thanks to the strong growth inlivestock farming and animal feed production. Its revenue in this field wasequivalent to 175 percent of the figure in 2018./.
Hoa Phat Group, a leading steel maker in Vietnam, shipped 191,600 tonnes of steel products aboard in the first nine months of 2019, rising 32 percent year on year and accounting for nearly 10 percent of its total sales.
The Hoa Phat Group said its subsidiary - Hoa Phat Steel Pipe Co., Ltd - exported 17,000 tonnes of steel pipe in the first 11 months of 2019, a year-on-year increase of 22.3 percent.
Hoa Phat Group, the largest steel maker in the country, said it provided more than 2.77 million tonnes of high-quality construction steel to the market in 2019, a year-on-year surge of 16.8 percent.
The Vietnamese steel industry is expected to face difficulties this year due to an increase in production capacity, falling demand and protectionist measures by countries to reduce imports, according to experts.
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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.
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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.
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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 (Photo: VNA) 
