The process of the Hoa Phat Dung Quat iron and steel production complex project is on schedule with the first line expected to be operational in the third quarter of this year, meeting demands of the central and southern regions.
With growth of up to 22 percent forecast this year and firms with bright prospects, Vietnam’s steel industry has high potential to reach many markets if it overcomes difficulties in trade defence lawsuits and high import volume.
Hoa Phat Group, a major industrial production group in Vietnam, manufactured 542,000 tonnes of steel in the first quarter of 2018, up nearly 10 percent year on year.
Steelmaker Hoa Phat Group targets revenue of 55 trillion VND (around 2.42 billion USD) and after-tax profit of 8.05 trillion VND (354.6 million USD) in 2018.
The Australian Anti-Dumping Commission (ADC) has ended its year-long investigation into alleged dumping of steel rod in coils exported to Australia from Vietnam in favour of the country .
Benchmark VN-Index further rose on March 26, gaining 17.63 points to settle at 1,171.22 points as it seemed not affected by the global stock market among concerns over a possible US-China trade war.
Four Vietnamese tycoons, named in Forbes Billionaires 2018, share a common interest in investing in agricultural development or businesses dedicated to benefiting Vietnamese farmers and the poor.
Hoa Phat Group, a major industrial group in Vietnam, announced that it exported 30,800 tonnes of steel to the US, Australia and Asian countries in February.
Vietnamese shares rallied on February 26 but the uptrend weakened towards the closing minutes due to selling pressure in a number of blue-chips, especially during the ATC session.
Vietnam's shares recovered on Feb 2 after dipping for two consecutive sessions, due to strong investor interest in large-cap stocks that led the market upturn on expectations of good earnings reports.
Hoa Phat Dung Quat Steel JSC of Hoa Phat Group is coordinating with Italy’s Danieli – one of the world’s largest suppliers of metallurgical equipment to consider a project on stainless steel (inox) production.
Vietnamese shares declined on January 1 as the market reversed quickly at the end of the trading session and especially during the ATC session, dragged down by blue chips in the banking and energy sectors.
Hoa Phat Group hopes to earn more than 100 trillion VND in revenue by 2020, the year the Hoa Phat Dung Quat iron and steel production complex is expected to become fully operational.
Vietnamese shares advanced for a second session on January 9 as investors remained upbeat over the firms that are expected to deliver good results in the earnings season.
Vietnam's stock market is forecast to keep rising in the short term but a few corrections may be necessary to re-balance the market after a long rally.
Business
XIII National Congress of Communist Party of Vietnam
