In 2024, Hoa Phat Group paid more than 13,400 billion VND to the State budget, the highest since Hoa Phat operated under the Group model and listed on the Ho Chi Minh City Stock Exchange (HOSE).
Budget payment increased by 48%
Hoa Phat's budget contribution in 2024 increased by 48% over the same period last year (more than 9,000 billion VND). In particular, the member companies with the highest budget contributions are Hoa Phat Dung Quat Steel, Hoa Phat Hai Duong Steel, Hoa Phat Steel Pipe, Hoa Phat Refrigeration, Hoa Phat Urban Construction & Development, and Hoa Phat Hung Yen Steel.
The total amount of taxes and fees of all kinds that Hoa Phat Dung Quat Steel Company paid to the budget, including: value added tax on imported goods, import-export tax, domestic tax... reached more than 9,600 billion VND and was the member company of Hoa Phat Group with the highest contribution.
Hoa Phat Hai Duong Steel is the company with the second largest budget contribution in Hoa Phat Group with over 1,370 billion VND. Some other member companies of the Group have large contributions to the State budget such as: Hoa Phat Steel Pipe, Hoa Phat Refrigeration, Hoa Phat Urban Construction and Development, Hoa Phat Hung Yen Steel, etc.
Hoa Phat is a leading industrial manufacturing group in Vietnam, established in 1992. The group operates in 5 fields: Iron and steel - Steel products - Agriculture - Real estate - Household appliances, owning a diverse ecosystem of high-quality products. Hoa Phat is operating and contributing to the state budget in 26 provinces and cities across the country, creating jobs for nearly 33,000 workers.
Over the past 33 years, with steady and effective development, the Group's contribution to the State budget has been increasing. From 2007, the time when Hoa Phat started listing on the stock market to December 31, 2024, Hoa Phat has paid nearly VND 88,000 billion to the State budget.
The core value of Hoa Phat Group is the philosophy of Harmony and Development. This is reflected in the relationship between employees, between the Group and partners, agents, shareholders and the community, towards sustainable development. Linking its activities with social benefits, Hoa Phat Group implements many practical support programs, focusing on 4 main groups: Health - Education - Transportation and Community.
In 2024, Hoa Phat Group will spend more than 100 billion VND on social security activities such as: eliminating temporary houses, building 1,500 houses for people in difficult circumstances in many provinces and cities, sponsoring the construction of new schools in Binh Dong, Quang Ngai with a total cost of more than 40 billion VND; Donating more than 300 water purifiers to schools and medical facilities nationwide; Giving gifts to the poor, sponsoring surgeries for children with congenital heart disease, supporting orphans... sponsoring people affected by storm No. 3 (Yagi) to rebuild and overcome the consequences of storms and floods.
Hoa Phat is also present in prestigious rankings, typically: 10 consecutive years in the Top 10 largest private enterprises in Vietnam; 7 consecutive times honored as National Brand, Top 3 Private enterprises paying the largest budget in the country (according to the PRIVATE 100 ranking of private enterprises paying the largest budget in Vietnam by CafeF), Top 50 Most Effective Enterprises, Top 100 largest companies in Southeast Asia by Fortune... The Group and its member companies have also been honored many times by the General Department of Taxation, the Department of Taxation of Hung Yen province... and awarded Certificates of Merit for exemplary units, fulfilling tax obligations well.
Prime Minister gives gifts to encourage officials and employees of Hoa Phat Group
Ready to invest in 10,000 billion VND rail manufacturing factory
Recently, in early February 2025, within the framework of his visit and work in Quang Ngai province, Prime Minister Pham Minh Chinh visited and worked with Hoa Phat Dung Quat Steel Joint Stock Company under Hoa Phat Group (HPG).
Prime Minister Pham Minh Chinh highly appreciated the achievements that Hoa Phat has achieved after 8 years of investment in Quang Ngai. The Prime Minister emphasized that without basic industries such as steel and chemicals, we will always be passive in the process of implementing the industrialization and modernization strategy. Therefore, the steel industry not only needs to develop, but also needs to follow the direction of digitalization and automation to increase competitiveness.
The Prime Minister asked Hoa Phat to continue promoting research and production of high-quality steel, especially rail steel for the North-South high-speed railway, the railway connecting China and urban railways.
Immediately after the Prime Minister's proposal, Hoa Phat Group Chairman Tran Dinh Long said: In the near future, Hoa Phat may invest in a rail manufacturing factory, investing 10,000 billion VND. Hoa Phat Chairman also committed to ensuring the supply of steel for the Vietnam Railway Corporation to carry out the project with a volume of about 10 million tons of steel, meeting the delivery schedule and at a price lower than the import price.
Hoa Phat representative also said: The Group has been, is ready, and has fully prepared all resources such as finance, human resources and science and technology to be able to immediately start serving production according to the assigned tasks. However, Hoa Phat is still waiting for the "head of the list" from the Government and ministries and branches on technical standards and regulations as well as procedures related to project development. Along with that, Hoa Phat Group also proposed that the Government soon issue mechanisms to remove institutional and administrative procedures to help businesses promote all inherent resources to reach out, develop more strongly, and meet the needs in the coming period.
Source: https://baochinhphu.vn/hoa-phat-nop-ngan-sach-hon-13400-ty-dong-nam-2024-102250311121517846.htm
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