Vietnam-based steelmaker Hoa Phat Group will supply prestressed steel cables for a series of infrastructure projects in Phu Quoc, developed in preparation for the Asia-Pacific Economic Cooperation (APEC) 2027 summit, according to media reports.
The company’s prestressed steel products will be used in multiple construction projects linked to the event, including transport and urban infrastructure aimed at upgrading the island’s capacity to host international visitors.
The projects are expected to play a key role in improving connectivity and supporting long-term economic development in the region.
Hoa Phat Group stated that its prestressed steel cables meet technical requirements for large-scale infrastructure projects, ensuring durability and structural performance. These products are typically used in bridges, highways and other heavy-load applications.
Strategic role in national development projects
The supply agreement reflects Hoa Phat’s growing role in supporting Vietnam’s major national infrastructure initiatives, particularly those linked to international events such as APEC 2027.
The company has been expanding its presence in high-value steel segments, including construction-grade and prestressed steel products.
Phu Quoc developments to boost regional economy
The infrastructure projects in Phu Quoc are expected to enhance the island’s position as a key tourism and economic hub in Vietnam, while improving its readiness to host global events.
The use of domestically produced steel is also expected to support local industry and reduce reliance on imports.
