Hoa Phat Group honoured as the largest private firm in Vietnam for two consecutive years

On November 17^th 2023, Viet Nam Report JSC in co-operation with VietnamNet Online Newspaper announced the Top 500 largest companies in Vietnam in 2023 – VNR500. Hoa Phat Group continued to maintain its leading position in the Top 10 largest private companies in Vietnam and rank 8^th in the Top 10 largest firms in Vietnam in 2023.

This has been the 17^th year the list was announced to search for and honour achievements of enterprises which have large scale, maintaining effective and stable production and business as well as showing their resilient bravery against the unexpected changes from the international situation and the growth deceleration of the economy.

Accordingly, Hoa Phat Group was honoured in the list for 16 years in a row. In 2023, Hoa Phat Group takes the lead in the Top 10 largest private companies in Vietnam for two consecutive years. It is also ranked 8^th position in the Top 10 largest companies in Vietnam in 2023.

The main criteria for the ranking is revenue according to the Fortune 500 model (the US). In addition, the VNR500 also considers other factors including total asset, total labour, growth rate, profit and firms’ prestige on media to have an assessment on businesses’ overall situation.

Last year, the group’s total revenue was VND142.7 trillion. In the first nine months of the year, Hoa Phat Group achieved a revenue of VND85.4 trillion. Its production and business as well as position have been maintained. In the steel sector, Hoa Phat Group has not only taken the No 1 market share in Vietnam in terms of construction steel, steel pipe and Top 5 steel sheet but also taking the lead in the northern region in term of clean egg production.

Established in 1992, Hoa Phat Group is operating in five sectors including iron and steel, steel production, agriculture, real estate, home appliance. Hoa Phat Group has a diversified and high quality product ecosystem. The group’s steel products have been well-known in the market such as construction steel, hot rolled coil steel, high quality steel, pre-stressed steel, steel pipe, galvalised steel and container. In the home appliance industry, Hoa Phat Group has a range of products such as freezer, air-conditioner, refrigerator, water purifier, washing machine, dish washing machine, induction cooker, cooler etc.

The group is operating and contributing to the State budget of 28 cities and provinces nationwide. In the first nine months of the year, Hoa Phat Group contributed more than VND6.3 trillion to the State budget.

Please find the list of Top 500 largest businesses in Vietnam in 2023 here.