HSBC ready to accompany Hoa Phat Group’s development strategy

On August 3, 2023 in Hanoi, Mr. Tran Dinh Long, Chairman of Hoa Phat Group had a meeting with Mr. Mark Tucker, Chairman of HSBC Group and Mr. Tim Evans, General Director of HSBC Bank Vietnam.

Mr. Nguyen Viet Thang, General Director and Ms. Pham Thi Kim Oanh, Financial Director of Hoa Phat Group were also Hoa Phat Group’s representatives to attend the meeting.

On behalf of the group, Mr. Tran Dinh Long welcomed and sent his thanks to the HSBC leaders for their visit and working at Hoa Phat. The two sides shared about the world’s economic situation as well as short-term and long-term development strategies.

Mr. Mark Tucker - Chairman of HSBC Group (right) visited Hoa Phat Group for the first time

Hoa Phat has been the largest steel producer in Vietnam and Southeast Asia with a capacity of about 8.5 million tons a year. By 2025, Hoa Phat's steel capacity will be more than 14 million tons a year, when its Hoa Phat Dung Quat 2 Iron and Steel Complex project comes into operation.

“In the long term, steel and post-steel products would be still the key sectors, but we will give priorities to the development of high-quality steel products, moving towards green steel production. The group has been investing in manufacturing of containers and household goods to welcome the wave of production shift from China," Mr. Long said.

According to HSBC, Hoa Phat Group has been one of HSBC Vietnam's important customers for years. Mr. Mark Tucker sent his thanks for the trust and cooperation that Hoa Phat has given to HSBC over the past time. The HSBC’s Chairman also affirmed that he has always been ready to accompany and support Hoa Phat Group's development plans and strategies both domestic and foreign markets in the long term.

Leaders of the two groups also shared the view that the economy of Vietnam and the world would still face difficulties in the next 6-12 months. HSBC has an optimistic but cautious view on the growth prospects of the Vietnam’s economy as well as the world. Sales volume of Hoa Phat Group has gradually been improved thanks to Vietnamese Government’s policy of promoting public investment and export orders have been on the rise.

HSBC is ready to accompany Hoa Phat Group’s development strategy

The working visit of HSBC Group Chairman, Mark Tucker to Hoa Phat Group was within the framework of his business trip to Vietnam and some countries and territories in Asia in early August 2023.

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