In 1992, Hoa Phat Group was established in Vietnam by Mr. Tran Dinh Long and Mr. Tran Tuan Duong. The company started with the import and sale of construction machinery, before expanding into steel production. By the end of 2020, Hoa Phat owns 3 large steel factories, with a capacity of 8 million tons of steel a year, becoming the leading company in Vietnam's steel industry.