Hòa Bình Construction Group Leader: Domestic Market is Promising but Profits are Low, We are Moving Towards the US Market

Mr. Lê Viết Hải, Chairman of Hòa Bình Construction Group (HBC), stated that while the domestic market is promising, the profits are low due to fierce competition. The group is expanding into foreign markets such as the US, Australia, Southeast Asia, and East Africa. In 2024, HBC plans to provide project management and construction material services in the US, hoping to sign a joint venture agreement with partners in California in 2025. Additionally, HBC secured contracts for four social housing projects in Kenya worth 70 million USD and is negotiating further contracts in Cambodia. Mr. Hải emphasized the importance of international development compared to domestic revenue, with the international construction market reaching 15 trillion USD, while domestic construction revenue was only 36 billion USD last year. Despite projected revenue drops in 2024, HBC has increased its ownership capital and aims for 9 trillion VND in revenue by 2025, alongside plans to issue private shares worth about 3.47 trillion VND.