Hoa Phat Group, Vietnam's leading steel producer, announced that it has signed an important memorandum of understanding with Chip Mong Group, a Cambodia-based iron and steel trading company, for the supply of rebar.
Under this agreement, Hoa Phat Group will supply Chip Mong Group to meet its rebar needs in Cambodia between July 1, 2024 and December 31, 2025. However, the amount of steel to be supplied has not yet been disclosed.
The agreement is not limited to a supply agreement, but also includes the two companies sharing their expertise and collaborating on various projects. This strategic cooperation aims to strengthen Hoa Phat Group's presence in the Cambodian market, while Chip Mong Group gains an important partner in the rebar supply chain.
Speaking at the signing ceremony, General Director Nguyen Viet Thang shared the following: "Hoa Phat is the largest private enterprise in Vietnam, operating in 5 main fields: iron and steel, steel products, agriculture, real estate and electronic appliances. With the motto of harmony and development, Hoa Phat always accompanies partners and customers, especially long-term business partners such as Chip Mong Group and Hoa Phat, which are very valuable.
Hoa Phat has exported steel to nearly 40 countries and regions around the world and 5 continents. For the Cambodian market, Hoa Phat is committed to meet the needs of its partners for rebar products to be supplied to the neighboring country. We believe that through this signing ceremony, in addition to the steel field, Hoa Phat will cooperate in areas where both sides have strengths and offer Hoa Phat products to the system of commercial centers and supermarkets in the Cambodian market."
Mr. Leang Khun, Chief Executive Officer of Chip Mong, said: "Founded in 1982, Chipmong is a Cambodian multi-industry company with 13 member companies. In the iron and steel segment, Chip Mong has been partnering with Hoa Phat for more than 10 years. Chip Mong is currently Hoa Phat's largest steel partner in the Cambodian market. We also hope that it will create opportunities for cooperation between the two sides in many fields in the near future."
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