At the end of 2025, the strategy to realign focus towards domestic sales showed some effectiveness, illustrating how major companies managed to grow their domestic revenue. For instance, Nam Kim Steel JSC (NKG) reported a 21% increase in domestic revenue for 2025, amounting to nearly 8.83 trillion VND (340 million USD), with domestic sales now accounting for 59.2% of its total revenue. This substantial decline has led to an overall revenue drop of 28.1% for Nam Kim, with profit after tax falling by 56.5%. Hoa Sen Group (HSG) reported an 18% revenue decline to more than 8.38 trillion VND, with profit after tax down 62.3%. In response to the domestic market’s competitive pressures, companies like Nam Kim are aggressively expanding their production capacity.

Source: VietNamNet News February 17, 2026 02:34 UTC