Hoa Phat contributes a record high of over VND13.4 trillion to the State budget

In 2024, Hoa Phat Group contributed more than VND13.4 trillion to the State budget, marking the highest contribution since the group adopted its current structure and was listed on the Ho Chi Minh City Stock Exchange (HOSE).

Hoa Phat's contributions to the State budget (2007–2024)

Hoa Phat’s contribution to the State budget in 2024 increased by 48% compared to the previous year (over VND9 trillion). The member companies with the highest contributions include Hoa Phat Dung Quat Steel Company, Hoa Phat Hai Duong Steel Company, Hoa Phat Steel Pipe Company, Hoa Phat Refrigeration Company, Hoa Phat Urban Construction & Development Company, and Hoa Phat Hung Yen Steel Company.

Hoa Phat Dung Quat Steel Company was the largest contributor, paying over VND9.6 trillion in various taxes and fees, including import VAT, import-export taxes, and domestic taxes, making it the leading member company of Hoa Phat Group in terms of state budget contributions.

Hoa Phat Hai Duong Steel Company ranked second, contributing more than VND1.37 trillion. Other significant contributors include Hoa Phat Steel Pipe Company, Hoa Phat Refrigeration Company, Hoa Phat Urban Construction & Development Company, and Hoa Phat Hung Yen Steel Company.

Founded in 1992, Hoa Phat is one of Vietnam’s leading industrial production groups. The group operates across five key sectors: Iron and Steel, Steel Products, Agriculture, Real Estate, and Household Appliances, with a wide range of high-quality products. Hoa Phat operates in 26 provinces and cities nationwide and provides jobs to nearly 33,000 employees.

Over the past 33 years, the group has consistently grown and expanded, with its contributions to the state budget steadily increasing. Since its stock market listing in 2007, Hoa Phat has contributed nearly VND88 trillion to the State budget by the end of 2024.

Hoa Phat’s core value is based on the philosophy of Harmony and Development, which underscores its relationships with employees, partners, shareholders, and the community, all aimed at sustainable growth. The group integrates social benefits into its operations, supporting various programs in key areas: Health, Education, Transportation, and Community Development.

In 2024, Hoa Phat Group allocated more than VND100 billion for social welfare activities. These included building 1,500 houses for families in need across various provinces, sponsoring the construction of new schools in Binh Dong and Quang Ngai (totaling over VND40 billion), donating over 300 water purifiers to schools and healthcare facilities nationwide, providing gifts for the poor, sponsoring surgeries for children with congenital heart conditions, and supporting victims of Typhoon Yagi with reconstruction and disaster relief.

Hoa Phat has also earned recognition in several prestigious rankings, including being in the Top 10 Largest Private Enterprises in Vietnam for 10 consecutive years, receiving the National Brand award for seven years in a row, and ranking among the Top 3 Private Enterprises with the Largest Tax Contributions in Vietnam (PRIVATE 100 by CafeF). It has also been recognized by Fortune as one of the Top 50 Most Effective Enterprises and one of the Top 100 Largest Companies in Southeast Asia. Additionally, the group and its subsidiaries have been frequently honored by the General Department of Taxation and the Hung Yen Provincial Tax Department for their exemplary tax compliance.

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