President Nguyễn Xuân Phúc during his visit to the Formosa Hà Tĩnh Steel Cooperation (FHS) in Hà Tĩnh. — VNA/VNS Photo Thống Nhất

HÀ NỘI — President Nguyễn Xuân Phúc held a working session with Formosa Hà Tĩnh Steel Cooperation (FHS) yesterday during his visit to Hà Tĩnh Province.

The President acknowledged how the company has been maintaining its production and ensuring employment for the local workforce despite the COVID-19 pandemic.

He also commended the local authorities’ efforts in its vaccination drive to support the business and FHS’ progress in addressing environmental protection.

The president affirmed that the company’s large-scale steel production contributes to the stabilisation of the domestic construction material market, improving export indicators, helping reduce the country’s trade deficit, and making important contributions to the State budget. 

President Phúc also requested that company management pay special attention to production safety and environmental protection in the locality, considering this the top priority in their operations.

With a total capital of US$12.8 billion, the company production units are now operating stably with 6,800 staff on the payroll, of which 78 per cent are living in Hà Tĩnh, according to FHS’ report.

It is expected that this year, steel billet production will reach 6.4 million tons and steel product consumption 6.3 million tons. 

The company's total revenue is predicted to reach approximately US$5 billion, an increase of 76 per cent compared to last year. 

FHS is forecasted to gain more than $1 billion in annual profit this year, and to contribute $350 million in tax. 

In addition to steel production, he also expected FHS to expand their product range, apply technology into their production to offer safe, quality products for the domestic and global market. 

Hà Tĩnh to scale up the community cultural house model

On the same day, President Nguyễn Xuân Phúc also visited the community cultural house in Phan Chu Trinh Hamlet, Cẩm Duệ Commune, Cẩm Xuyên District in Hà Tĩnh Province.

Following devastating floods in 2020, the people in Phan Chu Trinh Hamlet teamed up with the local government and philanthropists to build the community cultural house, which doubled as a shelter against flooding, and is worth VNĐ2 billion (US$87,000).

President Phúc expressed his praise for the structure and its practical functionality and presented 1,000 books to the library inside the building. 

Hà Tĩnh Province currently has 41 multi-functional structures like this community cultural house in Phan Chu Trinh Hamlet, a model which President Phúc said should be scaled up and expanded. 

Working with the provincial management, President Phúc required Hà Tĩnh to utilise its advantages, such as the deep-water harbours, the road-railway network, and its human resources.

Hà Tĩnh also needs to improve the local business investment environment to attract investors, especially in Vũng Áng Industrial Park, taking advantage of capital sources,  while also paying attention to its education sector. 

“Hà Tĩnh need to become a new growth pole together with Nghệ An and Thanh Hóa. The province also needs to strengthen its foundation for development," emphasised the president.

“Along with attracting foreign investments, the key factor is to utilise internal resources and local businesses”, he said. — VNS