Hoa Phat Group exported more than 265,000 tonnes of construction steel in 2019, up 11.3 percent year on year, the multi-sectoral conglomerate reported.

The export volume of Hoa Phat's construction steel grows 11.3 percent
in 2019 (Illustrative photo: VNA)

Some of its foreign markets include the US, Australia, Canada, Japan, Cambodia, Malaysia, Laos, Thailand, Indonesia, Singapore, the Philippines and Brunei.

Among them, Cambodia was the largest, to which Hoa Phat shipped 151,000 tonnes of steel, accounting for over 50 percent of the total export volume, the firm said, noting that this market is important since it is next to Vietnam, which helps reduce transportation cost, and has yet to have a developed steel industry while its steel demand is high.

It was followed by Japan (55,000 tonnes), Canada (20,000 tonnes), the US and Malaysia, which are all demanding markets, proving the competitiveness and quality of Hoa Phat steel in the global market, the group said.

For 2020, the business aims to ship 400,000 tonnes of construction steel abroad, equivalent to nearly 10 percent of its sale target.

Apart from construction steel, Hoa Phat has been boosting the export of other steel products like steel pipe, coated steel sheet and prestressed steel.

In particular, it exported over 25,000 tonnes of steel pipe and coated steel sheet in 2019 and plans to raise this figure by 20 percent to 30,000 tonnes this year.