Tran Dinh Long, Chairman of Hoa Phat Group, is known for his cautious business approach and the philosophy of “gentleman in self-defense.” Hoa Phat focuses on the domestic market, maintaining export revenue below 20% to mitigate risks, although in 2024, exports reached a record high of 31%. Long emphasizes that focusing on the domestic market is wise amid increasing trade protection policies. The Vietnamese government has imposed anti-dumping taxes on imported steel, benefiting local businesses. General Secretary To Lam affirms that “national interests are above all,” reinforcing support for private enterprises like Hoa Phat. Long believes this creates developmental opportunities, setting an ambitious revenue target of 170 trillion VND and a profit of 15 trillion VND for 2025, driven by the steel demand from large public investment projects such as high-speed rail.
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