Hoa Phat contributes more than VND20 trillion to the State budget

Hoa Phat Group’s subsidiaries contributed up to more than VND20 trillion to the State budget within 10 years since 2008. This was equivalent to the budget revenue of Quang Nam Province, which is in the Top 10 largest revenue provinces in 2017.

More than 10 years after listing on the Ho Chi Minh Stock Exchange, Hoa Phat has really had a very different position and stature. In 2017, HPG has a capitalization value of more than US$3 billion. It was listed in the Top 10 most effective business, Top 10 listed companies with the best revenue and profit. With the increasing business results, Hoa Phat's contribution to the State budget was increased sharply by 8.8 times in 10 years (2008-2017).

State budget contribution chart of Hoa Phat Group from 2008 to 2017 and growth rate over years compared to 2008

Particularly, in the 5-year period from 2013-2017, the group's contribution to the State budget continuously hit new records, thanks to effective operation of Hoa Phat Steel Complex in Hai Duong Province.

Alone in 2017, Hoa Phat Group contributed VND5 trillion in taxes and fees to the State budget, an increase of 40 per cent compared to 2016. This figure is equivalent to the total revenue of Phu Tho Province which took the 35th in revenue last year in the country. Hoa Phat contributed the highest amount to the State budgets of Hai Duong and Hung Yen Provinces where it locates factories which is more than VND2 trillion and VND1.2 trillion respectively.

In addition to the localities, Hoa Phat Group also contributed to the State budget of 23 other provinces across the country.

With the current growth rate, it is expected that when Hoa Phat Dung Quat Integrated Steel Complex comes to operation at full capacity from 2020, Hoa Phat will reach over VND100 trillion of revenue and contributing about VND10 trillion to the State budget. Of which, Quang Ngai Province would account for a half of this number.

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