The global trade slowdown is likely to sap the domestic economy, and if the prices of goods and services are not well controlled, the country will fail to keep the inflation rate at the desired level.
Hoa Phat Group, the nation’s largest steel producer, has announced that it churned out nearly 250,000 tonnes of construction steel in January, up 27 percent year-on-year and equivalent to the record-breaking figures of October 2018.
Hoa Phat Group, the largest steel maker in the country, shipped abroad 240,000 tonnes of steel in 2018, up 50.97 percent against the previous year, the group said on January 7.
Hoa Phat Group, a leading steel maker in Vietnam, expects its steel output will rise to 3.5-4 million tonnes in 2019, a year-on-year rise of 33 percent, when part of its 3-billion-USD Hoa Phat Dung Quat steel complex becomes operational in the central province of Quang Ngai.
The list of top 500 largest enterprises in Vietnam (VNR500) has been unveiled, showing that Vietnam’s private sector continued to post strong growth with the compounded annual growth rate (CAGR) among private firms rising significantly, reaching 21.8 percent in the 2014-2017 period.
Deputy Prime Minister Trinh Dinh Dung and a delegation of the Vietnamese Government paid a visit to Norway from October 30 to November 2 at the invitation of the Norwegian Government.
Steelmaker Hoa Phat set new records in sales and exports after the group sold 250,000 tonnes of construction steel in October, with 40,000 tonnes shipped abroad.
The Vietnam Oil and Gas Group (PVN) returned to the first place in the Profit500 Ranking, a survey on the 500 most profitable companies in Vietnam in 2018.
A Vietnam Report survey on the 500 most profitable companies in the country, which was announced this week, said most business insiders expect technology to remain the leader in attracting investment.
Vietnamese steel has faced nearly 10 trade remedy cases in just over a month, which has once again put the industry under great pressure from trade barriers in other countries.
The Hoa Phat Dung Quat Steel JSC has announced that it will apply SAP S/4HANA, a next-generation enterprise resource planning (ERP) software, for its iron and steel production complex.
A delegation of investors from the Republic of Korea (RoK) has visited Hoa Phat Group, one of the three largest steel producers in Vietnam, to seek partnership opportunities.