With Hoa Phat’s remarkable recovery in 2024, Tran Dinh Long’s fortune has doubled. Could this momentum push him to the top of Vietnam’s billionaire rankings?

Hoa Phat Group, the largest steel producer in Vietnam, has bounced back in 2024 with a substantial 51% increase in quarterly profit, completing 92% of its annual profit target.

Hoa Phat Group JSC (HPG) has proposed developing infrastructure for the Bai Goc seaport and Hoa Tam industrial park in Dong Hoa Town in Phu Yen Province, with a total cost of some VND120 trillion.

FPT Corporation has announced changes in its investors’ ownership ratios, while member funds managed by Dragon Capital have sold FPT shares and are no longer major shareholders.

The HPG shares of Hoa Phat Group have seen a fall in price to VND35,900 per share, while billionaire Tran Dinh Long fell from the second position on the list of Vietnamese stock billionaires.

For the first time, Chairman Tran Dinh Long of Hoa Phat Group has been included on the list of the 1,000 richest billionaires in the world. 

2021 was a prosperous year for steel manufacturers with profits increasing sharply compared with the year before. However, some manufacturers had poor business.

'Buffalo' represents hard work, persistence and stability in the Vietnamese people's conception, and these characteristics are considered to apply to people born in the Year of the Buffalo [according to eastern zodiac].

The Vietnamese Ministry of Industry and Trade (MoIT) has decided to apply anti-dumping duties on some colour-coated steel products originating from the Republic of Korea (RoK) and China in the Vietnamese market.

In the second half of this year, increasing competition in product quality, prices and market share are predicted to force steel companies to work harder to maintain their foothold in the market.

The list of Vietnam’s 50 best-performing companies (Top 50) was announced by the Nhip Cau Dau Tu (Investment Bridge) magazine and Thien Viet Joint Stock Company in Ho Chi Minh City on June 27.

The top 70 listed companies witnessed an impressive growth rate of 17 percent in 2018, but many expect growth to be lower this year.

Local steel industry is projected to enjoy a growth rate of some 10 per cent during 2019 which would be primarily driven by two key projects in the central region, the Ministry of Industry and Trade has said.

Big companies in steel, real estate and securities sectors have announced investments in agriculture projects, but they remain quiet about their profits from the projects.

VietNamNet Bridge - Though they followed methodical production methods, many Vietnamese tycoons, who have succeeded in their core business fields, have harvested bitter fruit in the agricultural industry.

VietNamNet Bridge - Once the driving force for economic growth in 2015, the mining industry has been facing great challenges this year.

VietNamNet Bridge - Many companies have reported profit increases in the first half of 2016, a sign that the national economy is warming up, according to economists.

 VietNamNet Bridge - The previous article analyzed the high tax rates on iron ore exports and the impact of tariff policies on mineral smuggling. This article will consider the competitiveness of Vietnamese steel producers.

VietNamNet Bridge - The Minister of Industry and Trade Vu Huy Hoang told the mid-year National Assembly session that the Ministry would put an end to the exploitation and processing of raw minerals, especially the exploitation of gold.