Hoa Phat Group contributes 276 million USD to State budget in seven months

At a steel mill of Hoa Phat Group (Photo: VNA)

Hanoi (VNA) - 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. 

The largest contributors among the steelmaker’s affiliates were Hoa Phat Dung Quat Iron and Steel Production Complex and Hoa Phat Hai Duong Steel Integrated Complex, which contributed 4 trillion VND and 1.2 trillion VND in the period, respectively.

The figures represented 2.8-fold and 58 percent rises against the same period last year, driven by an increasing demand for material procurement for production.

The Hoa Phat Group is operating in 25 provinces and cities across the country.

In the seven months, Hoa Phat manufactured nearly 4.8 million tonnes of crude steel, surging 58 percent against the same period last year. The sales of its steel products rose by 50 percent to 4.9 million tonnes. 

In addition to the State budget, in the seven months, the firm presented 120 billion VND ministries and localities to support the fight against COVID-19./.

VNA