Hoa Phat Group Chairman Tran Dinh Long commits to 15% annual growth

Committing to the Prime Minister, Mr. Tran Dinh Long, Chairman of the Board of Directors of the Group, said that Hoa Phat will grow 15% per year from now until 2030, responding to the Government's double-digit growth target.

On February 9, 2025, during his working program in Quang Ngai, Prime Minister Pham Minh Chinh visited and worked at Hoa Phat Dung Quat Iron and Steel Complex.

Chairman of the Board of Directors Tran Dinh Long said that Hoa Phat is currently the number 1 steel producer in Vietnam, and has exported steel to 40 countries and territories. With large investments in production, the Group is focusing on producing high-quality steel to help replace imported goods. Hoa Phat is committed to growing 15% per year, responding to the country's double-digit growth target for the 2025-2030 period.  

Prime Minister visits the central control room of Hoa Phat Dung Quat Steel Complex

Reporting to the Prime Minister, Chairman of the Board of Directors Tran Dinh Long said that Hoa Phat has invested 7 billion USD in Quang Ngai in Dung Quat Economic Zone. The key projects are the Hoa Phat Dung Quat Iron and Steel Complex and the Hoa Phat Dung Quat 2 Iron and Steel Complex with a total investment of more than 171,000 billion VND.

“With its existing capacity, the Group is focusing on producing high-quality steel to help replace imported goods. Hoa Phat is confident in its capacity to research and produce rail steel, steel for making train and high-speed train axles according to orders from the Prime Minister as well as high-quality steel for key national projects and export to the world,” Chairman Tran Dinh Long emphasized.

The Group's leaders also suggested that the Government should take measures to legitimately protect domestic manufacturing enterprises. "What domestic enterprises can do, we hope the State will assign them to do. Only then can we nurture large enterprises," Mr. Tran Dinh Long suggested to the Prime Minister and the working group.

Since the project began in 2017 to 2024, Hoa Phat Dung Quat Steel has contributed nearly 35,000 billion VND to the State budget. Hoa Phat's projects in Dung Quat Economic Zone create jobs for about 17,000 direct workers, of which local workers account for more than 80% and tens of thousands of workers of Hoa Phat's contractors and partners.

In addition, Hoa Phat actively implements social security in Quang Ngai. Responding to the Government's program to eliminate temporary and dilapidated houses, the Group has supported the construction of more than 1,500 houses for the poor across the country. Quang Ngai alone is 30 billion VND, equivalent to 600 houses. In addition, the Group also carries out many other activities such as sponsoring school construction, supporting orphans, heart surgery for poor children, giving Tet gifts to the poor, etc.

Speaking at the meeting, Prime Minister Pham Minh Chinh acknowledged, commended and expressed pride in the results achieved by Hoa Phat after 8 years of investment in Quang Ngai; at the same time, highly appreciated the companionship and support of Quang Ngai provincial authorities at all levels for the smooth implementation of Hoa Phat's project.

The Prime Minister pointed out that without basic industries such as steel and chemical industries, we will always be passive in the process of implementing the industrialization and modernization strategy; we cannot help but develop the steel industry and must develop in the direction of digitalization and automation. Therefore, with enterprises like Hoa Phat, we will be more proactive in terms of strategy.

The Prime Minister asked Hoa Phat to continue researching and producing high-quality steel, especially steel rails for the North-South high-speed railway, railway lines connecting with China, and urban railways in the coming time.

Recognizing the passion, enthusiasm and dedication of Chairman Tran Dinh Long, the Prime Minister requested Hoa Phat to deploy the production of the above steel rails in a manner consistent with the Party's guidelines and policies and the State's laws; the Party and State will pay attention and create favorable conditions for Hoa Phat as well as other national enterprises to develop.

Currently, Hoa Phat is prioritizing the completion and operation of the Hoa Phat Dung Quat 2 Iron and Steel Production Complex project to ensure stability and continue to invest in developing deep processing of high-quality steel products in Dung Quat Economic Zone, aiming to be self-sufficient in production to serve key national projects, in which special priority is given to serving the investment project to build a high-speed railway on the North - South axis in the period of 2026 - 2030.

When the Hoa Phat Dung Quat 2 Iron and Steel Complex Project is completed by the end of 2025, the Group's steel production capacity will reach 15 million tons/year, expected to put Hoa Phat in the Top 30 largest steel enterprises in the world.

Source: https://baodautu.vn/chu-cich-tap-doan-hoa-phat-cam-ket-tang-truong-15-moi-nam-d245065.html