Hoa Phat Rises in the Top 100 Largest Companies in Southeast Asia

On June 17, Fortune released the 2025 Southeast Asia 500 ranking. This marks the second consecutive year that Hoa Phat Group is included in the list, climbing from 76th place in 2024 to 62nd place in 2025. Among the top 100, Vietnam has 12 companies honored, including Hoa Phat Group.

Hoa Phat’s scale has grown significantly, particularly since the Hoa Phat Dung Quat integrated steel complex came into operation.

The rankings are based on revenue for the 2024 fiscal year. All seven countries featured in last year’s Southeast Asia 500 list—Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia—remain on the list in 2025, continuing to play a vital role in the regional economy.

According to the 2025 ranking, Vietnam has 76 enterprises featured on the Fortune 500 list, spanning industries such as finance, banking, real estate, energy, food, heavy industry, aviation, and retail. This represents an increase from 70 Vietnamese companies in 2024 to 76 in 2025.

Based on Fortune’s methodology, Hoa Phat recorded a revenue of USD 5.54 billion in 2024, with post-tax profit of USD 479 million and total assets of USD 8.80 billion as of December 31, 2024.

In 2024, Hoa Phat achieved revenue of VND 140.56 trillion, up 17% year-on-year. Its post-tax profit reached VND 12.02 trillion, marking a 77% increase over 2023 and surpassing the year’s target by 20%. The steel segment (including iron & steel production and steel products) continued to serve as the Group’s core business, contributing 93% of revenue and 86% of total profit. Meanwhile, the agriculture segment saw profit growth of 4.6 times compared to 2023.

In 2024, Hoa Phat contributed over VND 13.4 trillion to the state budget and earned recognition in several prestigious rankings, including: seven consecutive years as a National Brand, Top 3 largest private-sector taxpayers in Vietnam, and Top 50 most effective businesses.

In Q1 2025, Hoa Phat reported revenue of over VND 37.9 trillion and post-tax profit of over VND 3.3 trillion, increasing by 22% and 16% respectively compared to Q1 2024.

Hoa Phat Group is the largest steel producer in both Vietnam and Southeast Asia. By the end of 2025, the Group's designed steel production capacity is expected to reach 15 million tons per year, primarily focusing on hot-rolled coil and high-quality steel for the mechanical manufacturing industry. Hoa Phat maintains the number one market share in Vietnam and exports a wide range of steel products to 40 countries and territories.

View the full Southeast Asia 500 ranking here.

 In the 2025 rankings, Hoa Phat ranks 62nd, up 14 positions from 76th in 2024.