Spending over VND9 trillion ($391.3 million) in the first half of the year on the construction of its Dung Quat Iron and Steel integrated complex through borrowings, Hoa Phat Group is paying an enormous amount of interest on its debts each day.
In addition to owners' equity, Hoa Phat has mobilized tens of trillion dongs from Vietinbank and Vietcombank to invest in Dung Quat steel complex.
The leading manufacturer of plastic doors with reinforced steel Eurowindow JSC is coping with tough competition from its rivals with foreign imported products and its market share is likely to be endangered.
Pomina Steel JSC stressed that it does not import prohibited goods and it is working with the shipment's owner and the authorities to clarify this issue.
Corrosion-resistant steel and certain cold-rolled steel flat products delivered from Vietnam but originated in China are subjected to import duties up to 200 percent due to evading the U.S. anti-dumping and countervailing duty orders, according to conclusive decisions just declared by the U.S. Department of Commerce
The changes in the way of thinking of Vietnam's leading private corporations should be appreciated, given the fact that Forbes has included Vietnam's four business people in the list of billionaires in the world.
The Vietnamese government has expressed concern over Trump’s plans, although they are unlikely to have a major direct impact on Vietnam’s economy. The US accounts for 11.1% of Vietnam’s steel exports, but steel accounts for less than 2% of Vietnam’s total export portfolio.
It is feared that the escalating trend of trade protectionism will hinder global growth and make many businesses struggle for survival.
In order to create a stable and long-term supply source of iron ore for steel mills, Hoa Phat Group (Hoa Phat) has worked with the four largest iron ore producers in Australia, according to the Group.
Twenty eight firms, including Formosa Ha Tinh Steel Corporation (FHS) and Nui Phao Joint-venture Co., Ltd., are subject to special environmental control under the scheme on special environment control implemented by the Ministry of Natural Resources and Environment (MoNRE).
The U.S. Department of Commerce (DOC) has announced to rescind the administrative review of the countervailing duty (CVD) order on certain steel nails (steel nails) from Vietnam for the period January 01, 2016, to December 31, 2016, according to Vietnam Competition Authority.
Japan's Kyoei Steel Ltd. is expanding its investment in steel projects in Vietnam as a deal has just been finalized to increase its market shares.
The United States Department of Commerce (DOC) has rescinded, in part, countervailing duty administrative review of certain steel nails (steel nails) from Vietnam covering the period November 3, 2014, through December 31, 2015, according to Vietnam Competition Authority.
The high demand for steel enabled Hoa Phat Group to achieve record profits in the first 9 months of 2017.
