10:08 (GMT +7) - Thursday 27/10/2016


Hoa Sen Chairman: "I do not hold foreign assets"

Released at: 17:08, 10/08/2016 BUSINESS SPOTLIGHT

Hoa Sen Chairman: "I do not hold foreign assets"

Hoa Sen Group celebrates 15th anniversary at ceremony in HCMC on June 6, where it also received a Second Class Labor Medal.

by Duy Anh

“I want to affirm that I do not hold citizenship nor have any assets overseas. My biggest asset is shares in Hoa Sen. Being a Vietnamese citizen running a Vietnamese business, I commit to devoting the group to the country’s development,” Mr. Le Phuoc Vu, Chairman of the Hoa Sen Group, told a ceremony celebrating its 15th anniversary and the receipt of a Second Class Labor Medal from the State President on June 6 in Ho Chi Minh City.

Fifteen years have passed, he told the gathering, and mark the strong development of the Group, from being recognized as a Global Growth Company at the World Economic Forum (WEF) to leading the domestic and Southeast Asian steel markets.

“The Group’s target of becoming the leading supplier and distributor of construction materials in Southeast Asia has nearly been reached,” Mr. Vu said. “Hoa Sen is now transitioning to the global integration stage and possesses many favorable conditions.”

The Group will continue to enhance its leading position through its investment in the Ca Na steel complex in south-central Ninh Thuan province, which will complete its closed manufacturing process and help diversify its products.

He also affirmed the Group’s commitment to society and the environment. “We commit that this project will not cause any environmental pollution,” Mr. Vu said at the ceremony. “Even though Vietnam is currently in a period of industrialization, modernization and economic development, we believe this is no reason for the environment to be taken lightly. Hoa Sen affirms its commitment to the environment and to community engagement in each and every project.”

Along with steel projects, Hoa Sen is also expanding into the real estate market with apartment projects, ecotourism sites, hotels, and event centers in northern Yen Bai and south-central Binh Dinh provinces. 

Established on August 8, 2001, the Group began as the Hoa Sen Joint Stock Company. In 2007 it changed its name to the Hoa Sen Group Joint Stock Company and in 2008 was officially listed on the Ho Chi Minh Stock Exchange (HoSE). 

2016 is an important milestone for Hoa Sen, Mr. Vu said, growing from a small steel manufacturer into a leader in Vietnam’s steel market, accounting for nearly 40 per cent of the domestic steel sheet market and over 20 per cent of the steel market. 

Hoa Sen now has nearly 6,600 employees with eight large factories and over 200 distributors and retailers throughout Vietnam. Its products are also present in 65 countries and territories around the world, with consumption exceeding 1 million tonnes per year.

In its 15 years Hoa Sen has always developed its brand towards “bringing happiness to share with the community”. It has not only focused on production but also paid attention to many community activities.

Politburo Member Ms. Truong Thi Mai presents a certificate for the Second Class Labor Medal to the Hoa Sen Group

Authorities congratulate the Hoa Sen Group

Outstanding individuals of the Hoa Sen Group

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