Hoa Phat stands as Vietnam’s sole manufacturer of hot-rolled coil steel (HRC), dominating the market share for construction steel and steel pipes in the country.
On November 12th, Vietnam Report Company, in collaboration with VietNamNet Newspaper, unveiled the VNR500 rankings—the Top 500 Largest Enterprises in Vietnam for 2025. Hoa Phat Group was honored as the second-largest private enterprise and secured a spot among the Top 10 largest enterprises in Vietnam.
Modeled after the Fortune 500, the VNR500 rankings have been annually published since 2007. This prestigious list recognizes enterprises that significantly contribute to Vietnam’s economic development and promotes their brands to both domestic and international business communities.
In 2024, Hoa Phat achieved a revenue of 140.56 trillion VND, a 17% increase year-on-year; post-tax profit reached 12.02 trillion VND, up 77%, surpassing the plan by 20%.
18 Consecutive Years of Recognition in the Rankings
The primary criteria for ranking enterprises include revenue, profit, growth rate, total assets, and workforce. Hoa Phat Group has been consistently honored in this ranking for 18 consecutive years.
In 2024, Hoa Phat recorded a revenue of 140.56 trillion VND, a 17% increase compared to the same period last year; post-tax profit was 12.02 trillion VND, up 77%, exceeding the plan by 20%. The steel sector remained the core business, contributing 93% of revenue and 86% of the group’s profit. Agricultural profits surged 4.6 times compared to 2023. Hoa Phat contributed over 13.4 trillion VND to the state budget, the highest ever.
In the first nine months of 2025, the group achieved a revenue of 111.031 trillion VND, a 5% increase, and a post-tax profit of 11.626 trillion VND, up 26% year-on-year.
As Southeast Asia’s largest steel producer, ranking among the world’s top 30 steel enterprises, Hoa Phat’s steel production capacity will reach 16 million tons per year by 2026.
Vietnam’s Only HRC Steel Producer
Hoa Phat is Vietnam’s sole producer of hot-rolled coil steel (HRC), leading the market in construction steel and steel pipes. The group also maintains its position and market share in clean chicken eggs, commercial pigs, and Australian beef.
As Southeast Asia’s largest steel producer, equivalent to the world’s top 30 steel enterprises, Hoa Phat’s steel production capacity will reach 16 million tons per year by 2026, primarily focusing on HRC and high-quality steel. This will fully meet both domestic and international market demands.
In 2025, Hoa Phat was also featured in several prestigious rankings, including: Top 4 Largest Private Enterprises in Tax Contributions, Top 50 Most Efficient Enterprises, Fortune’s Top 100 Largest Companies in Southeast Asia, and Top 10 Leading Value-Creating Enterprises in Vietnam 2025 – Construction Materials Sector.
Alongside its business operations, Hoa Phat allocates hundreds of billions annually to various corporate social responsibility programs in healthcare, education, transportation, and community development. Initiatives include supporting the construction of over 1,500 homes for the poor and policy beneficiaries, donating water filters to schools and healthcare facilities, and building the Binh Dong Primary School in Quang Ngai.
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