The Hoa Phat Group reported a total revenue of over VND 8.2 trillion (over $439.6 million), exceeding their proposed outlooks by over 117 percent.
Started in August 1992, Hoa Phat has become a leading group of manufacturing and trading in Vietnam.
Beginning in 2010, Hoa Phat will unveil a new business strategy, strongly focused on both industrial manufacturing activities and real estate business.
The group has been able to maintain stable growth despite a rather rocky market. At the end of 2009, Hoa Phat’s industrial complex of cast iron and steel officially came into operation focusing on 3 main products such as steel bars, coke coals and commercial electricity.
Currently, projects in new urban areas such as high apartment buildings have further strengthened in Hanoi and Ho Chi Minh City, which have led to projections of development for the group and an increase both in revenues and profits.