Hoa Phat to build 180 mln USD plated-steel sheet plant
Hoa Phat Group (HPG) has decided to invest about 4 trillion VND (180 million USD) in building a plated steel sheet plant in the Pho Noi A Industrial Park, the northern province of Hung Yen.
Hanoi (VNA) – Hoa Phat Group (HPG) has decided to ꦏinvest about 4 trillion VND (180 million US🌜D) in building a plated steel sheet plant in the Pho Noi A Industrial Park, the northern province of Hung Yen.
The project aims to diversify products of the firm and meet increasing demand for plated steel sheets in the market as well as provide materials for its steel pipe factories in Hung Yen.
Construction of the plant is scheduled to be commenced next month and completed in early 2018. It will use advanced technologies of Italy, Japan and Germany, a group representative said.
HPG was named in the Top 10 highly trusted performance enterprises of Vietnam in 2015 by the Enterprise Credit Rating Appraise Science Centre thanks to its steady achievements and great contributions to the national economic development.
It also received many prestigious awards such as top five largest private enterprises in Vietnam, Top 50 enterprises with outstanding business achievements in the ranking V1000, and Top 50 most expensive enterprises.
Last year, the group posted 27.8 trillion VND (1.34 billion USD) in revenue and 3.5 trillion VND (155.6 million USD) in post-tax profit. It contributed 2.76 trillion VND to the State budget, up nearly 26 percent compared to 2014.-VNA
The steel industry has seen a record growth over the first 11 months this year, up 30.1 percent from the same period last year, according to the Vietnam Steel Association.
The domestic steel market has seen a price surge and hoarding before temporary safeguard measures recently imposed on two types of steel imports into the Southeast Asian country, experts said.
Shares of average-sized steel firms listed on the local market recovered, thanks to the expectation of positive business results from rising steel prices in the first quarter of 2016.
Seven in 10 of the most prestigious property developers in Vietnam are private enterprises, with the top three being property developers with headquarters in Hanoi, the Vietnam Report has announced.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Illustrative image (Photo: VNA)
