[Vietnam’s top 10 steel and building-material firms contribute VND 19 trillion to 2025 budget]

Published: Aug 7, 2026 14:16

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Vietnam’s 10 largest steel and building-material enterprises are expected to contribute a combined VND 19.04 trillion to the 2025 state budget, down 2.9% year on year but up 40.6% from 2023. Hoa Phat Group leads with VND 12.95 trillion, accounting for about 68% of the Top 10 total, followed by Hoa Sen Group at VND 1.23 trillion, VICEM at VND 1.11 trillion and VNSTEEL at VND 927 billion. Steelmakers accounted for 85.5% of the total, with VAT on imported goods representing a major source of payments for several companies. In contrast, resource taxes, land-related payments and environmental fees made up a significant share of VICEM’s contribution. The figures also reflect diverging market conditions across steel segments: Vietnam’s finished steel output rose 9.6% in 2025, while sales increased 8.7%, supported mainly by domestic demand. Construction steel sales grew 12% and HRC sales rose 28%, while galvanized and cold-rolled steel remained under pressure from weaker exports.

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