Hoa Phat contributes VND 7,100 Billion to State budget in 20 provinces in first half of 2025

In the first half of 2025, Hoa Phat Group contributed VND 7,100 billion to the State budget across 20 provinces and cities nationwide. Hoa Phat Dung Quat Steel and Hoa Phat Hai Duong Steel were the largest contributors, with VND 4,100 billion and VND 1,155 billion paid to the budgets of Quang Ngai Province and Hai Phong City, respectively.

Hoa Phat contributes VND 7,100 Billion after 6 months across 20 provinces, created jobs for 33,000 employees 

Key subsidiaries contributing significantly to the State budget include Hoa Phat Dung Quat Steel, Hoa Phat Hai Duong Steel, Hoa Phat Steel Pipe, Hoa Phat Refrigeration, Hoa Phat Hung Yen Steel, and Hoa Phat Construction & Urban Development.

In the first half of the year, Hoa Phat Dung Quat Steel’s total tax and fee payments - including VAT on imports, import-export duties, and domestic taxes - reached VND 4,100 billion, making it the Group’s top contributor during this period.

With VND 1,155 billion contributed, Hoa Phat Hai Duong Steel ranked second among the Group’s subsidiaries. Other notable contributors include Hoa Phat Steel Pipe, Hoa Phat Refrigeration, Hoa Phat Hung Yen Steel, and Hoa Phat Construction & Urban Development.

Since 2007, when Hoa Phat was listed on the stock exchange, the Group has contributed VND 95,000 billion to the State budget as of June 30, 2025. In 2024 alone, the Group paid a record-high VND 13,500 billion. According to Cafef's 2024 ranking, Hoa Phat ranks among the top four private enterprises in Vietnam in terms of tax contributions - trailing only three automotive firms - marking a proud achievement for a heavy industrial manufacturer.

The Group and its subsidiaries strictly comply with all tax obligations and have been repeatedly recognized and honored by the General Department of Taxation and provincial tax authorities for their exemplary compliance.

Hoa Phat’s State Budget Contributions from 2015 to 2024 (Unit: VND Billion)

Hoa Phat is the largest steel manufacturer in Southeast Asia. In September 2025, the Group is set to complete Phase 2 of the Hoa Phat Dung Quat 2 Integrated Steel Complex. Upon completion, the Group’s total steel output will reach 16 million tons per year, including 9 million tons of hot-rolled coil (HRC), fully meeting domestic demand for this product.

Founded in 1992, Hoa Phat is one of Vietnam’s leading industrial manufacturing groups. It operates in five key sectors: Iron and Steel, Steel Products, Agriculture, Real Estate, and Home Appliances, with a diverse ecosystem of high-quality products. As of July 1, 2025, based on the new administrative boundaries, Hoa Phat is contributing to the State budget in 20 provinces and cities, creating direct jobs for 33,000 workers and indirect jobs for thousands of employees.

Top 10 Private Enterprises with the Highest Tax Contributions in Vietnam in 2024 - (Source: Cafef)

Hoa Phat aligns its business operations with social responsibility, focusing on four main pillars: Healthcare, Education, Infrastructure, and Community. The Group has carried out various charitable programs, including building 1,500 houses for low-income families in several provinces and sponsoring over VND 40 billion to construct a new school in Binh Dong (Quang Ngai). It also donates water purifiers to schools and healthcare centers, funds heart surgeries for children, and supports orphans.

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