During a visit by Vietnam's Prime Minister Pham Minh Chinh to the Dung Quat Iron and Steel Complex, steel producer Hoa Phat Group outlined its growth expectations. The prime minister emphasized Hoa Phat's role in Vietnam's growth targets and confirmed continued government support.
Tran Dinh Long, chairman of Hoa Phat, highlighted the company's status as Vietnam's largest steel manufacturer, exporting to 40 countries and territories. He announced a target of 15% annual growth from 2025 to 2030, aiming to replace imported materials with high-quality steel.
Hoa Phat executives presented suggestions for local industry protection, including early land allocations and utilizing domestic iron ore resources to reduce import costs of approximately $3 billion annually.
