Hoa Phat ranks among the Top 10 Largest Private Enterprises in Vietnam for 10 consecutive years

Vietnam Report Joint Stock Company, in collaboration with VietnamNet Newspaper, has announced the VNR500 Ranking - The Top 500 Largest Enterprises in Vietnam for 2024. Hoa Phat Group was recognized as the second-largest private enterprise in Vietnam for 2024 and the 12th largest overall in the country.

This marks the 18th year that the VNR500 list has been published, based on the revenue from the previous year. Hoa Phat has been honored for 17 consecutive years, consistently ranking among the top enterprises. Notably, from 2014 to 2024, Hoa Phat has remained in the Top 10 Largest Private Enterprises in Vietnam for 10 consecutive years. In particular, in 2022 and 2023, the group led the Top 10 Largest Private Enterprises and was also ranked in the Top 10 largest enterprises in Vietnam overall.

Hoa Phat Group was honoured in the Top 10 Largest Private Enterprises and the Top 10 largest enterprises in Vietnam

In 2023, Hoa Phat achieved impressive financial results, with revenue reaching VND120.3 trillion and a àter-tax profit of VND6.8 trillion. In the first nine months of 2024, the Group's revenue exceeded VND105 trillion (over US$4 billion), representing a 23% increase compared to the same period last year. Its profit after tax surged by 140% year-on-year, reaching VND9.2 trillion. Hoa Phat also contributed VND10 trillion to the State budget during this period, surpassing the total amount paid in 2023. The group currently operates in and contributes to the State budget across 26 provinces and cities nationwide.

Hoa Phat continues to dominate the Vietnamese market, holding the top position in construction steel, steel pipes, and ranking among the top five corrugated iron manufacturers. The group also maintains a strong market share in clean chicken eggs and commercial pork. Specifically, Hoa Phat is ranked among the top three largest producers of clean chicken eggs in Vietnam and leads the market in the North.

Hoa Phat’s outstanding performance is also reflected in its consistent recognition in prestigious rankings, such as: Top 50 Most Effective Listed Enterprises, Top 3 Largest Private Enterprises Contributing to the National Budget, Top 10 Strongest Brands and Top 100 Largest Companies in Southeast Asia (Fortune).

In addition to its business achievements, Hoa Phat has remained committed to social responsibility. Over the past nine months, the group has supported numerous charitable and community initiatives, including: building 1,500 houses for disadvantaged families, donating more than 300 water purifiers to schools and medical facilities nationwide, sponsoring the construction of new schools and supporting orphans and children with congenital heart disease.

The VNR500 ranking honors the achievements of large enterprises that demonstrate resilience in overcoming international challenges, maintaining stable production and business activities. These companies play a vital role in returning the economy to a growth trajectory, spreading positive momentum, and inspiring the business community to contribute to the sustainable development of Vietnam's economy.

The list of Top 500 Largest Enterprises in Vietnam for 2024 here.

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