At the 2025 Annual General Meeting, Chairman Tran Dinh Long affirmed that Hoa Phat is not afraid of competition, even as the steel industry has become more competitive with the entry of large corporations like Xuan Thien and Vingroup. Xuan Thien has started construction on a green steel project with a capacity of 9.5 million tons per year, while Vingroup established VinMetal and commenced its Ha Tinh steel plant with a total investment of nearly 80 trillion VND, with an initial capacity of 5 million tons per year. Vingroup is also collaborating with Pomina to enhance competitiveness. Despite Hoa Phat holding about 38% market share and recording record sales volume at the end of 2025, the emergence of these large competitors could change the landscape of the steel industry in Vietnam. Hoa Phat is also implementing a project to produce railway and special steel at Dung Quat to meet domestic and export needs.
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