Vietnam’s leading steelmaker Hoa Phat Group recorded its highest ever after-tax profit of 34.5 trillion VND (1.5 billion USD) in 2021, 1.5 times higher than the previous year and surpass 92 percent of the whole year’s set target.
Hanoi (VNA)♏ – Vietnam’s leading steelmaker Hoa Phat Group recorded its highest ever after-tax profit of 34.5 trillion VND (1.5 billion USD) in 2021, 1.5 timeshigher than the previous year and surpass 92 percent of the whole year’s settarget.
Its revenuesurged 65 percent to 150.8 billion VND.
The group posted a 73 percent year-on-year increase in its revenue in the fourth quarter of lastyear to 45 trillion VND. Its after-tax profit also rose 59 percent to 7.4trillion VND compared to the same period last year.
Despite negative impacts of the COVID-19 pandemic, Hoa Phat iron and steel complexes in HaiDuong, Quang Ngai and and Hung Yen provinces still operated at full capacity toserve domestic and foreign markets.
Last year,the group manufactured 8.8 million tonnes of construction steel, hot rolled coilsteel (HRC), steel pipes and galvanised steel, up 35 percent against 2020.About 2.6 million tonnes of steel products were sold abroad, doublingyear-on-year.
With its performance, Hoa Phat remains to hold the No. 1 market share in Vietnam for construction steel andsteel pipes with 32.6 percent and 24.7 percent respectively. Hoa Phat is alsothe only Vietnamese enterprise that can produce HRC.
In additionto having the largest Australian cow herd in the country, the group is takingthe lead in the northern market with an output of 800,000 eggs a day.
The group's real estate sector is focusing on expandingexisting industrial parks, and at the same time researching and investing in anumber of housing projects and service urban areas.
Operating in25 provinces and cities across the country, Hoa Phat Group contributed 12.4trillion VND to the State budget last year, 70 percent higher than the amount in 2020.
꧑ HoaPhat is carrying out major projects including Hoa Phat Dung Quat 2 iron andsteel complex and Dung Quat economic zone complex port and a containermanufacturing factory in Ba Ria-Vung Tau province. Once completed, theseprojects will raise the scale and promote long-term growth for Hoa PhatGroup./.
Vietnam’s largest steelmaker Hoa Phat Group has announced that it contributed over 6.3 trillion VND (about 276 million USD) to the State budget in the first seven months of the year, posting a year-on-year jump of 94 percent.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image. (Photo: VNA) 
