Hoa Phat hailed for its contribution to Hung Yen Province

Mr. Nguyen Van Phong, deputy secretary cum chairman of People’s Committee of Hung Yen Province on December 14^th 2017 and leaders of Taxation Department had a meeting with Hoa Phat Group at Hoa Phat galvanized steel sheet factory in Pho Noi A Industrial Zone.

Mr. Tran Tuan Duong – general director of Hoa Phat Group, Mr. Hoang Quang Viet – director of Hoa Phat Urban Development and Construction Joint Stock Company, Mr. Hoang Duc Thuan – director of Hoa Phat Steel Sheet One Member Company Limited received the delegation.

Chairman of Hung Yen People’s Committee Mr. Nguyen Van Phong (first row, second from left) highly valued construction progress of Hoa Phat’s projects

General director Mr. Tran Tuan Duong briefly introduced Hoa Phat’s production and business this year as well as construction progress of Hoa Phat Colour Steel Sheet Plant in Hung Yen Province. Accordingly, the paint line has been under testing and would provide first products before Tết (Lunar New Year) holiday. The rolled line is expected to come into operation after Tết while the galvanize line would have first products in the second quarter of 2018.

Mr. Nguyen Van Phong – chairman of Hung Yen People’s Committee sent his thanks to European experts to help Hoa Phat build the most modern and integrated colour steel sheet so far. The chairman also emphasised that the plant would contribute to create jobs to hundreds of thousands labourers, promoting economic development and increasing collection to the State budget. The Hoa Phat Steel Sheet One Member Company Limited is estimated to contribute VND300-400 billion a year to Hung Yen’s State budget after its factory of 400,000 tonnes a year come into operation.

Hung Yen’s leaders spent much time to work with foreign experts working at the factory

Hoa Phat has always been the largest tax payer among private firms in the Hung Yen Province, accounting for 10 per cent of the total in the past years. In 2016, Hoa Phat Group contributed VND717 billion to the State budget and paying more than VND500 billion of valued added tax (VAT) for imported goods. In the first 11 months of the year, the group contributed VND966 billion to the provincial State budget including over VND600 billion of domestic taxes. Its subsidiaries including Hoa Phat Steel Pipe Company, Hoa Phat Steel One Member Company and Hoa Phat Furniture Company had the highest contribution to the State budget.

Hoa Phat sent its thanks to leaders of Hung Yen Province for their supports to the group’s development over the past years. They proposed the province to continue to create favourable conditions for their projects, especially land clearance for Pho Noi A Industrial Zone and Bac Pho Noi Urban Area.

Chairman of the provincial People’s Committee highly valued Hoa Phat’s contributions to the province’s socio-economic development and affirming to continue to support the group to expand its scale in the upcoming time.

                                                                                                       Hong Hanh