Hoa Phat Chairman Tran Dinh Long Net Worth Expected to Double to $5 Billion as Steel Business Booms
Vietnam's richest man Trần Đình Long, Chairman of Hoà Phát Group, is on track to see his net worth double to $5 billion as the steel tycoon's flagship company benefits from a resurgence in the industry.
Steel output and consumption dive in Jan-Feb
HCMC – Though the economic outlook in January and February has brightened, steel production, domestic consumption and exports plunged, according to the Vietnam Steel Association (VSA). In the first two months of 2023, the output of finished steel products fell 16.3% year-on-year to nearly 4.3
Steel sales plunge to two-year low
HCMC – Vietnam’s steel sales in October slid to a two-year low amid the woes faced by the real estate industry. The country’s steel production topped two million tons in October, down 16% month-on-month and 29% year-on-year, while sales stood at around 1.9 million tons, a decline of 29% over the
Binh Dinh approves VND53.5-trillion steel project
HCMC – Long Son Phu My Iron and Steel JSC has got the green light from Binh Dinh Province to develop an iron and steel complex at a total cost of some VND53.5 trillion. According to the Binh Dinh Investment Promotion Center, the Long Son Iron and Steel Production Complex project would cover over
Domestic steel demand continues sliding
HCMC – Dampened demand has lingered in the local steel market, leading to output and sales declining in October, according to data recently released by local steelmakers. Hoa Phat Group (HPG), a major Vietnamese steelmaker, saw its raw steel production down 19% year-on-year at 567,000 tons in