CafeF is proud to present the list of the top 10 steel and construction material companies in Vietnam, making the most significant contributions to the state budget. This list is part of the PRIVATE 100 and VNTAX 200 series, which honor businesses for their outstanding financial contributions to the country’s economy.
The PRIVATE 100 list specifically recognizes private enterprises with tax contributions of 100 billion VND and above, while the VNTAX 200 list includes all businesses with tax contributions of 200 billion VND and above for the fiscal year 2024.
Together, these top companies have contributed hundreds of thousands of billions of VND to the state budget, making this the only recognition of its kind that comprehensively showcases the financial contributions of enterprises across all sectors of the economy.
The PRIVATE 100 and VNTAX 200 lists for 2025, based on 2024 data, will be released in August 2025. They will include overall rankings as well as rankings by specific industries such as Banking, Securities, Real Estate, Consumer Goods, and Retail.
As one of the key sectors, steel and construction material companies are increasingly becoming significant contributors to the country’s economy. This year’s top 10 enterprises in this sector have collectively contributed over 21,000 billion VND, an increase of nearly 6,400 billion VND, or 43%, compared to the previous year. Half of the companies on the list are from the steel industry.
Leading the list is Hoa Phat Group, with a contribution of more than 13,400 billion VND, a 48% increase from the previous year, and the highest amount in the Group’s history. This makes Hoa Phat one of the four private enterprises with contributions exceeding 10,000 billion VND in 2024.
In the first half of 2025, Hoa Phat Group contributed 7,100 billion VND to the state budget across 20 provinces and cities nationwide. Hoa Phat Dung Quat Steel and Hoa Phat Hai Duong Steel, two of the Group’s subsidiaries, made the largest contributions, with 4,100 billion VND and 1,155 billion VND paid to the budgets of Quang Ngai province and Hai Phong city, respectively.
The subsidiaries that contributed the most to the state budget include Hoa Phat Dung Quat Steel, Hoa Phat Hai Duong Steel, Hoa Phat Pipe, Hoa Phat Air Conditioning, Hoa Phat Hung Yen Steel, and Hoa Phat Urban Development and Investment.
In addition to Hoa Phat, four other steel industry representatives made it to the top 10, including Hoa Sen Group, Nam Kim, VAS Nghi Son, and VNSTEEL.
In 2024, Hoa Sen Group contributed over 1,650 billion VND to the state budget, an increase of nearly 60% compared to the previous year. The Group also maintained its leading position by focusing on the business of steel, pipes, and plastic pipes, and expanding its Hoa Sen Home supermarket system to 125 locations nationwide.
The remaining companies on the list come from diverse industries such as Cement (Vicem), Tiles and Sanitary Equipment (Viglacera, DNP Holding), Wooden Furniture (An Cuong), and Plastic Construction (Binh Minh Plastic, DNP Holding), with contributions ranging from 400 to 1,000 billion VND.
During their development, some well-known construction material companies have diversified their business activities, becoming multi-sector conglomerates with assets worth tens of thousands of billions of VND, such as Viglacera and DNP Holding.
Viglacera, originally a brick and tile company, has transformed into one of Vietnam’s leading construction material manufacturers and real estate investors. DNP Holding, which started as a plastic pipe company, has become a multi-sector conglomerate through M&A strategies, investing in areas such as water supply, construction materials, and household products.
CafeF Lists 2025 marks the return of two prestigious recognition programs:
PRIVATE 100 – Honoring top private enterprises with tax contributions of 100 billion VND and above
VNTAX 200 – Recognizing businesses with tax contributions of 200 billion VND and above for the fiscal year
These lists are compiled by CafeF from publicly available sources or verifiable data, reflecting the actual tax payments made by enterprises, including taxes, fees, and other mandatory contributions. By aggregating transparent and accurate data, we not only acknowledge the financial contributions of these businesses but also promote their social responsibility and affirm their position in the economy.
Some notable enterprises on the 2025 list, based on their 2024 fiscal year contributions, include Agribank, ACB, AIA, BIM Group, Coteccons, HDBank, LOF, Masan Group, MoMo, OCB, PNJ, Tasco, DOJI Group, Nam Long Group, Hoa Sen Group, TCBS, Techcombank, TPBank, Vingroup, VPBank, Vinamilk, VNG Group, and VPS.
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