Hoa Phat honoured in the Top 30 largest tax payers

Hoa Phat Group was one of Top 30 largest tax payers honoured by the Ministry of Finance at the award ceremony for typical businesses contributing to the country’s tax sector in the past 30 years (1990-2020) held in Hanoi on October 5^th 2020. The group was also one of 10 private firms with outstanding achievements in the tax area.

 Minister of Finance Mr Dinh Tien Dung awarded the certificate of merit to Ms Nguyen Thi Thao Nguyen, Hoa Phat Group’s Deputy General Director  

The ceremony was held by the General Department of Taxation on the occasion of the 75th anniversary of the finance industry, the 30th anniversary of the State Tax System and the Vietnam Entrepreneur Day to honour 30 groups and corporations from all economic sectors which have made great contributions to the country during the development process.

Hoa Phat Group was in the Top 10 leading private enterprises in Vietnam. Starting from a company specialising in trading construction machines in August 1992, Hoa Phat has continuously expanded its operation to other fields such as furniture, steel pipes, construction steel, refrigeration, real estate and agriculture. Currently, Hoa Phat Group has 11 member companies, operating across the country and one office in Singapore.

Steel production is the core business that accounts for over 80 per cent of the group's revenue and profit. The main products in Hoa Phat’s steel production chain include construction steel, hot rolled coil (HRC), pre-stressed steel, wire drawn steel, steel pipes and colored galvanised steel. Hoa Phat holds the No 1 market share in construction steel, steel pipes, and office furniture. In the agricultural sector, Hoa Phat is also the leader in Australian beef production in Vietnam and chicken eggs production in the North.

With effective business activities, Hoa Phat Group’s revenue in the period 2015-2019 reached nearly VND230 trillion, contributing VND24.05 trillion to the State budget revenue in the period. Alone in 2019, Hoa Phat Group’s consolidated revenue reached VND64.6 trillion after-tax profit of VND7.57 trillion, contributing VND6.63 trillion to the State budget.

Hoa Phat Group has outstanding contributions to localities which it has production and business. Typically, the Hoa Phat Dung Quat Iron and Steel Complex in central province of Quang Ngai provided jobs for nearly 10,000 people directly working at its factories and hundreds of thousands of labourers of contractors. This has contribute to promote development of service, trade and support industry in the central region. It is expected that the group would contribute VND10 trillion a year to the State budget after the complex comes into stable operation.

Hong Hanh