Hoa Phat Group Chairman commits to 15% annual growth

On February 9, 2025, during his working program in Quang Ngai, Prime Minister Pham Minh Chinh visited and worked at Hoa Phat Dung Quat Iron and Steel Complex.

Chairman of the Board of Directors Tran Dinh Long said that Hoa Phat is currently the number 1 steel producer in Vietnam, and has exported steel to 40 countries and territories. With large investments in production, the Group is focusing on producing high-quality steel to help replace imported goods. Hoa Phat is committed to growing 15% per year, responding to the country's double-digit growth target for the 2025-2030 period.

Prime Minister visits the central control room of Hoa Phat Dung Quat Steel Complex

Reporting to the Prime Minister, Chairman of the Board of Directors Tran Dinh Long said that Hoa Phat has invested 7 billion USD in Quang Ngai in Dung Quat Economic Zone. The key projects are the Hoa Phat Dung Quat Iron and Steel Complex and the Hoa Phat Dung Quat 2 Iron and Steel Complex with a total investment of more than 171,000 billion VND.

“With its current capacity, the Group is focusing on producing high-quality steel to help replace imported goods. Hoa Phat is confident in its ability to research and produce rail steel, steel for making train and high-speed train axles according to orders from the Prime Minister as well as high-quality steel for key national projects and export to the world,” emphasized Chairman Tran Dinh Long.

The Group's leaders also suggested that the Government should take measures to legitimately protect domestic manufacturing enterprises . "Whatever domestic enterprises can do, we hope the State will assign them to do. Only then can we nurture large enterprises," Mr. Tran Dinh Long suggested to the Prime Minister and the working group.

Since the project began in 2017 to 2024, Hoa Phat Dung Quat Steel has contributed nearly 35,000 billion VND to the State budget. Hoa Phat's projects in Dung Quat Economic Zone create jobs for about 17,000 direct workers, of which local workers account for more than 80% and tens of thousands of workers of Hoa Phat's contractors and partners.

In addition, Hoa Phat actively implements social security in Quang Ngai. Responding to the Government's program to eliminate temporary and dilapidated houses, the Group has supported the construction of more than 1,500 houses for the poor across the country. Quang Ngai alone is 30 billion VND, equivalent to 600 houses. In addition, the Group also carries out many other activities such as sponsoring school construction, supporting orphans, heart surgery for poor children, giving Tet gifts to the poor, etc.

Speaking at the meeting, Prime Minister Pham Minh Chinh acknowledged, praised and expressed pride in the results achieved by Hoa Phat after 8 years of investment in Quang Ngai; at the same time, he highly appreciated the companionship and support of the authorities at all levels of Quang Ngai province for the smooth implementation of Hoa Phat's project.

The Prime Minister pointed out that without fundamental industries such as steel and chemicals, we will always be passive in the process of implementing the industrialization and modernization strategy; we cannot help but develop the steel industry and must develop in the direction of digitalization and automation. Therefore, with enterprises like Hoa Phat, we will be more proactive in terms of strategy.

The Prime Minister asked Hoa Phat to continue researching and producing high-quality steel, especially steel rails for the North-South high-speed railway, railway lines connecting to China, and urban railways in the coming time.

Recognizing the passion, enthusiasm and dedication of Chairman Tran Dinh Long, the Prime Minister requested Hoa Phat to deploy the production of the above steel rails in a manner consistent with the Party's guidelines and policies and the State's laws; the Party and State will pay attention and create favorable conditions for Hoa Phat as well as other national enterprises to develop.

Currently, Hoa Phat prioritizes the completion and operation of the Hoa Phat Dung Quat 2 Iron and Steel Complex project to ensure stability and continue to invest in developing deep processing of high-quality steel products in Dung Quat Economic Zone, aiming to be self-sufficient in production to serve key national projects, in which priority is given to serving the investment project to build a high-speed railway on the North-South axis in the period of 2026 - 2030.

When the Hoa Phat Dung Quat 2 Iron and Steel Complex Project is completed at the end of 2025, the Group's steel production capacity will reach 15 million tons/year, expected to put Hoa Phat in the Top 30 largest steel enterprises in the world.

Source: https://baodautu.vn/chu-tich-tap-doan-hoa-phat-cam-ket-tang-truong-15-moi-nam-d245065.html