Hoa Phat Group’s contribution to State budget up 42 per cent in H1 to nearly VND7.4 trillion

Hoa Phat Group contributed nearly VND7.4 trillion (US$315.97 million) to the State budget in the first half of 2022, rising 42 per cent year on year and surpassing the entire 2020’s estimate. Hoa Phat Dung Quat Steel JSC and Hoa Phat Hai Duong Steel JSC are its biggest contributing subsidiaries, respectively paying over VND4.8 trillion and nearly VND1.6 trillion to the budget, up 47 per cent and 48 per cent from a year earlier.

In the first 6 months of the year, Hoa Phat Group maintained stable production to meet the market's demand

Total taxes and fees contribution of all kinds of Hoa Phat Dung Quat Steel Company, including value-added tax (VAT) on imports, import-export tax, domestic tax etc reached over VND4.8 trillion, up 47 per cent over the same period last year and having the highest contribution among Hoa Phat Group’s member companies.

With nearly VND1.6 trillion, Hoa Phat Hai Duong Steel Company ranks second among Hoa Phat Group's companies with the highest budget contribution, posting 48 per cent year-on-year increase. In 2021, the company contributed more than VND3 trillion to the State budget. In which, the payment in southern province of Hai Duong VND1.75 trillion, increasing 53 per cent over the corresponding period last year, becoming the largest tax contributor in Hai Duong Province. The contribution of Hoa Phat Hai Duong Steel Company accounts for 13.3 per cent of the province’s total regular revenue and accounting for 44 per cent of the revenue of non-state enterprises.

Other major contributors include Hoa Phat Steel Pipe, Hoa Phat Home Appliances, An Thong Mineral Investment, Hoa Phat Steel Sheet, Hoa Phat Urban Development and Construction, and Hoa Phat Hung Yen Steel.

The Group is operating in 27 provinces and cities nationwide. Hoa Phat Group has not only contributed more to the State budget, creating jobs for local workers, but also actively implemented corporate social responsibility (CSR) activities focusing on four main groups: Health - Education - Transport and the Community through building bridges, building schools, sponsoring congenital heart surgery for poor children, Spring of love, etc. In 2022, the group will implement the program "Road of love" to support the caring for disadvantaged children and elderly people across the country.

During the past 30 years, Hoa Phat Group's contribution to the State budget has been increasing, showing the group’s steady and effective development. It has continually been in the lists of the largest businesses and taxpayers in Viet Nam. In May 2022, the firm was named as one of the world’s 2,000 biggest companies by Forbes.

                                                                                                   HPG News