Hòa Phát (HPG) contributes VNĐ13 trillion to State budget in 2025

Hòa Phát (HPG) contributes VNĐ13 trillion to State budget in 2025

In 2025, the group ranked among the top four private enterprises with the highest tax payments.

Hòa Phát Group contributed VNĐ13 trillion (US$495 million) to the State budget across 20 provinces and cities nationwide in 2025, reaffirming its position as one of Việt Nam’s largest private taxpayers.

Among its subsidiaries, Hòa Phát Dung Quất Steel and Hòa Phát Hải Dương Steel recorded the highest budget contributions during the year. Quảng Ngãi Province accounted for the largest share, with VNĐ8.15 trillion, or 63 per cent of the group’s total payments. Significant contributions were also made in Hải Phòng, Hưng Yên, Quảng Ninh, Hà Nội, HCM City and Đà Nẵng.

Hòa Phát Dung Quất Steel led the group with total tax and fee payments of nearly VNĐ8.24 trillion, including import VAT, import-export duties and domestic taxes, making it the largest contributor among Hòa Phát’s member companies in 2025. Hòa Phát Hải Dương Steel followed with more than VNĐ2.03 trillion, up 48 per cent year-on-year.

Other subsidiaries also posted substantial budget contributions, including Hòa Phát Steel Pipe (VNĐ688 billion), Hòa Phát Refrigeration (VNĐ666 billion), Hòa Phát Construction and Urban Development (VNĐ386 billion) and Hòa Phát Hưng Yên Steel (VNĐ307 billion).

Since listing on the stock market in 2007 through December 31, 2025, Hòa Phát has contributed a cumulative VNĐ101 trillion to the State budget. In 2025, the group ranked among the top four private enterprises with the highest tax payments, according to CafeF’s PRIVATE 100 ranking. It also had nine member companies listed in the V.1000 ranking of the country’s 1,000 largest corporate income taxpayers, a notable achievement for a heavy industrial manufacturer.

Alongside its fiscal contributions, Hòa Phát continued to feature prominently in major domestic and international rankings in 2025. These included being named among the top two largest private enterprises in Việt Nam, the top 10 outstanding Vietnamese enterprises, the top 50 most effective businesses, the Fortune list of the 100 largest companies in Southeast Asia and the top 10 value-creating enterprises in the building materials sector. The group was also included among the top 50 best listed companies in Việt Nam.

Hòa Phát is currently Southeast Asia’s largest steel producer and is expected to reach an annual capacity of 16 million tonnes by the end of 2026. Around 60 per cent of its output comprises high-tech steel products serving mechanical engineering, automotive manufacturing, shipbuilding, oil and gas, household appliances, steel structures and energy projects. At present, Hòa Phát is the only Vietnamese enterprise capable of producing hot-rolled coil steel.

The group is also developing a rail and special steel plant at its Dung Quất complex. The facility is scheduled to produce its first rail steel products in 2027, supplying key national railway projects and targeting export markets. 

Bizhub