Hoa Phat Steel Sheet enjoying export advantages from FTAs
Bilateral and multilateral economic cooperation agreements Vietnam has signed have enabled the Hoa Phat Group’s Hoa Phat Steel Sheet Co. Ltd to penetrate into many new markets and promote exports.
Hoa Phat steel sheet has been sold in many markets (Photo courtesy of Hoa Phat)
Hanoi (VNA) - Bilateral and multilateraleconomic cooperation agreements Vietnam has signed have enabled the Hoa PhatGroup’s Hoa Phat Steel Sheet Co. Ltd to penetrate into many new markets andpromote exports.
The EU-Vietnam Free Trade Agreement, the ASEAN-ChinaFree Trade Agreement, and the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) have all brought about advantages to thecompany in terms of tariffs in the EU, ASEAN, China, and Asia-Pacific markets suchas Australia, Brunei, Canada, Chile, the US, Japan, Malaysia, Mexico, and NewZealand.
It recently signed a number of contracts to exportproducts to markets in Asia, Europe, and Mexico.
A batch of 10,000 tonnes of steel sheet has been shippedto Thailand, which is scheduled to arrive in the country in late August.
Hoa Phat’s Dung Quat factory has succeeded inproducing hot rolled coil using Italian production technology, enabling it to becomeindependent in terms of materials and better manage product quality and ensureorigin.
The modern production chain has also helped Hoa Phat SteelSheet meet the strict requirements of fastidious markets.
After two years in Vietnam, Hoa Phat Steel Sheet hasstaked out a position in the local market, with sales in the first half of 2020rising 200 percent year-on-year.
Its products are now sold in the US, Mexico, the EU,Australia, Malaysia, Indonesia, Thailand, Cambodia, and elsewhere./.
Hoa Phat Group (HPG), the largest steel maker in Vietnam, reported post-tax profit of over 2.75 trillion VND (120.2 million USD) in the second quarter of this year, its highest quarterly post-tax profit for 30 years, up 34 percent year-on-year.
Leading steel manufacturer Hoa Phat Group sold 300,000 tonnes of construction steel in July, a rise of 19 percent over that in June and 27.5 percent year on year.
Hoa Phat Hung Yen Steel Co., Ltd – a subsidiary of Vietnam's leading steel manufacturer Hoa Phat Group - has signed a number contracts to export high-quality rolled steel branded SAE to African markets, marking its success in opening new export markets.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Hoa Phat steel sheet has been sold in many markets (Photo courtesy of Hoa Phat) 
