Hoa Phat Group contributed nearly VND7.4 trillion (US$315.97 million) to the State budget in the first half of 2022, rising 42 per cent year on year and surpassing the entire 2020’s estimate, the conglomerate reported.

It said Hoa Phat Dung Quat Steel and Hoa Phat Hai Duong Steel are its biggest contributing subsidiaries, respectively paying over VND4.8 trillion and nearly VND1.6 trillion to the budget, up 47 per cent and 48 per cent from a year earlier.

Other major contributors include Hoa Phat Steel Pipe, Hoa Phat Home Appliances, An Thong Mineral Investment, Hoa Phat Steel Sheet, Hoa Phat Urban Development and Construction, and Hoa Phat Hung Yen Steel.

The conglomerate is operating in 27 provinces and cities nationwide.

It has continually been in the lists of the largest businesses and taxpayers in Viet Nam. In May 2022, the firm was named as one of the world’s 2,000 biggest companies by Forbes. — VNS