Hoa Sen steel chief in line for global business honour

May 29, 2015 | 08:50

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Le Phuoc Vu, chairman of giant steel maker Hoa Sen, has been nominated for the EY World Entrepreneur of the Year award, accounting firm Ernst and Young Viet Nam announced on Monday.

Le Phuoc Vu (in the middle) talks with media on the announcement of the award. VNS Photo Thu Ngan

EY Viet Nam said some 65 businesspeople from 53 nations and territories would join the award this year in Monaco next month. The winners will be announced on June 6.

Vu was chosen from scores of entrepreneur in Viet Nam for his contribution to the company as well as the Vietnamese steel industry.

Since starting with an investment of VND1.2 million in 2001, Vu has developed Hoa Sen into a giant steel producer and the biggest exporter in Southeast Asia after it grew by an average of 93 per cent a year.

Last year the company had revenues of US$700 million.

Hoa Sen now has five subsidiaries, six plants, 160 distribution points, and 4,800 workers.

The EY World Entrepreneur of the Year first came to Viet Nam in 2011 and then again in 2014.

Winners are chosen for their entrepreneurial spirit, financial management, strategy, impact on society, creativity, and integrity.

VNS

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