Hoa Phat's steel production at its facility in Dung Quat, Quang Ngai. (Photo: VNA)
Hanoi (VNA) – Hoa Phat Group plans to import1.44 billion USD worth of commodities from Australia in 2021, more than doublinglast year’s figure.
The imports will include around 4 million tonnes of ironore, 3.5 million tonnes of coal of different types and 145,000 cows.
The group’s imports of machines, equipment, and materialsfor production reportedly hit nearly 2 billion USD last year. Of the total,some 35 percent, or 700 million USD, came from Australia, also over double thefigure from 2019 and making the industrial manufacturer the largest Vietnameseclient of the country.
More than half of the total import value, or 364 millionUSD, came from coal, compared to just 115 million USD in 2019.
The group’s purchases of iron ore leapt a whopping19-times to 123 million USD in the first eleven months of 2020.
Hoa Phat bought more coal and iron ore last year to serveproduction at its iron and steel integrated complexes in the northern provinceof Hai Duong and the central province of Quang Ngai’s Dung Quat Economic Zone.
Meanwhile, it annually purchases hundreds of thousands ofcows from Australia, with its herd accounting for 50 percent of allAustralian-imported cows in Vietnam.
With such soaring import numbers, Hoa Phat was estimatedto account for 17 percent of Australia’s total export value to Vietnam in 2020,compared to 7.4 percent in 2018 and 7.6 percent in 2019.
According to Global Trade Atlas, Australia’s exports toVietnam reached 4.4 billion USD in 2020, 16 percent of which was imported byHoa Phat.
Last year, the group’s exports exceeded 1 billion USD,including 966 million USD worth of high-quality and construction steel./.
Vietnamese businesses in Australia have made significant contributions to the growth of Vietnam-Australia trade in 2020, Vietnamese Ambassador to Australia Nguyen Tat Thanh said at a ceremony to review activities of the Vietnamese Entrepreneurs Association in Sydney (VEAS) on December 5.
Vietnam is a perfect economic partner for Australia, said a joint report by Asia Society Australia and the Australian APEC Study Centre at RMIT University.
The Hoa Phat Group has reported some 700 million USD worth of imports from Australia this year, more than double the figure from last year and making the industrial manufacturer the largest Vietnamese client of the country.
Despite the COVID-19 pandemic’s impact on global trade, Vietnam’s exports to Australia grew 62.08 percent year-on-year in January to almost 391 million USD, data shows.
Vietnam Airlines is pursuing an Environmental, Social, and Governance (ESG) roadmap to reduce emissions, improve fuel efficiency, and adopt sustainable aviation fuels. It is also investing in workforce development, corporate culture, and international management practices.
Thailand's largest retailer, Central Retail Corporation (CRC), will invest over 45 billion THB (1.38 billion USD) through 2027 to expand mainstream markets and accelerate growth across Southeast Asia, including Thailand and Vietnam.
Vietnam ranks among Asia’s top producers and exporters of denim, with hundreds of factories producing denim fabric and garments. Vietnamese denim products are now exported to over 70 countries.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
The pangasius industry is one of the country’s key foreign currency earners, with an annual export value of around 2 billion USD, accounting for 20% of Vietnam’s total seafood exports. The US remains one of the largest and most strategic markets for Vietnamese pangasius.
A Government Office notice on the Deputy PM’s conclusions at a recent meeting to review construction progress of the plants stressed that accelerating the development of power sources is essential and urgent to ensure energy security and meet the demands of two-digit socio-economic growth in the coming period.
It featured four discussions on key issues such as the Vietnam- Switzerland comprehensive partnership, Vietnam’s international financial centre, digital transformation and innovation, and global human resources and expansion of markets.
With rising protectionist policies for the steel industry, and the US imposing tariffs on steel exports, the sector has entered a challenging period. In response, many industry giants are returning to the domestic market.
As the most significant and high-profile event in the global logistics industry, FIATA World Congress 2025 is expected to gather over 1,200 delegates from more than 150 countries.
Hoa Phat's steel production at its facility in Dung Quat, Quang Ngai. (Photo: VNA)
