Hoa Phat Group among Top 3 Private Enterprises contributing the most to State budget in 2024

CafeF has introduced the PRIVATE 100 list to highlight the crucial role of the private sector in Vietnam’s economy and to recognize and promote the social contributions of these enterprises. This is the inaugural release of PRIVATE 100, based on actual payment data from the fiscal year ending between June 30, 2023, and March 31, 2024.

According to the list, the PRIVATE 100 collectively contributed nearly VND173 trillion to the budget in 2023. Notably, the top three companies, including Hoa Phat, accounted for over one-third of this total.

Steel companies contributed almost VND12 trillion to the State budget, with Hoa Phat alone providing VND9.075 trillion.

Founded in 1992, Hoa Phat Group operates across five sectors: iron and steel, steel products, agriculture, real estate, and household appliances. The group offers a diverse range of high-quality products, including construction steel, hot-rolled steel coils, high-quality steel, pre-stressed steel, steel pipes, galvanized steel, and containers. In household appliances, Hoa Phat produces freezers, air conditioners, refrigerators, water purifiers, washing machines, dishwashers, induction cookers, and coolers.

The group operates and contributes to the state budget across 26 provinces and cities nationwide. Committed to aligning its growth with community interests, Hoa Phat actively engages in corporate social responsibility, focusing on four key areas: health, education, transportation, and community support. In the first half of 2024 alone, the group contributed VND7.4 trillion to the state budget.

Hoa Phat has undertaken numerous charitable and social initiatives, including building 300 gratitude houses in Tra Vinh, providing over 300 water purifiers to schools and medical facilities across the country, and commencing the construction of Binh Dong Primary School in Binh Son district, Quang Ngai. The Group also continues its annual programs, such as “Heartbeat of Love,” which funds heart surgeries for disadvantaged children, and “Godmother,” which supports monthly food expenses for orphans.

Over the past 32 years, Hoa Phat has demonstrated steady and impactful development, with its contributions to the state budget consistently increasing. The group has earned recognition in prestigious rankings, including being named the largest private enterprise in Vietnam, among the top 50 most effective listed companies, and one of the top 30 largest taxpayers in the country.

See the PRIVATE 100 list here.

 HPG News