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Dang Thanh Thuy has stepped down from her position as chief executive officer of Vinpearl, Vingroup’s resort division. Despite her resignation, Thuy continues to hold a seat on the organization’s board. Vinpearl has not yet announced a successor or the…
In a significant development plan for Hai Phong, a sprawling 4,400-hectare complex in the southern part of the city will unfold over three phases, as announced by the board of directors. The initial phase is set to kick off next year, aiming for completion by…
Vingroup, Vietnam’s largest private enterprise, has unveiled plans for an ambitious high-speed metro line that will connect downtown Ho Chi Minh City (HCMC) to the coastal district of Can Gio. This transformative project is set to cost $4 billion and promises…
Vingroup, Vietnam’s biggest private conglomerate, made total consolidated net revenues of VND88.191 trillion ($3.56 billion) in the first nine months, posting a year-on-year decline of nearly 5%. Vingroup gained after-tax profits of VND1.571 trillion,…
Vingroup made after-tax losses of over VND7.5 trillion ($326 million) in 2021, its first-ever loss, citing funding for the pandemic fight and heavier investments in electric car development. Vietnam’s biggest private conglomerate’s net revenues stood at…
Vietnam’s VinFast plans to build electric vehicle battery cells and packs in a new U.S. manufacturing complex, its global chief executive told Reuters, as the company pledged to transform itself into an all-electric automaker by the end of this year. VinFast,…
The Vingroup Corporation (VIC), Vietnam’s largest private conglomerate, has set up a new firm – VinBigData Jsc – with a chartered capital of VND470.8 billion ($20.29 million). The group will hold a 99 percent stake in the new company. The formation of…
Vietnam’s largest private company, Vingroup, has established pharmaceutical company Vinbiocare with a charter capital of VND200 billion ($8.6 million). Its focus will be on medicine, vaccines. Vingroup owns 69 percent of Vinbiocare Biotechnology JSC, its…
Vietnam’s biggest private conglomerate, Vingroup, will stop manufacturing smartphones and televisions, focusing instead on producing equipment for VinFast cars. Its VinSmart unit, established nearly three years ago, will start making “infotainment” features…
Vietnam’s biggest private conglomerate Vingroup sold stakes in five companies and acquired shares in six others last year, according to its audited consolidated financial statement. It sold 80 percent each of MV Real Estate JSC and the MV1 Real Estate JSC to…
Vietnam’s biggest private conglomerate, Vingroup, is seeking shareholders’ approval to raise $500 million by issuing international redeemable convertible bonds. The bonds will be issued this year and listed in Singapore, but will not be traded in Vietnam. The…
Automobiles and smartphones accounted for 19 percent of private conglomerate Vingroup’s revenues in the last quarter of 2020. This marked a 40 percent year-on-year increase to VND6.9 trillion ($299.45 million). The largest private conglomerate in Vietnam sold…
Vietnam’s biggest conglomerate, Vingroup, has recently launched a mobile app for mom and pop retail stores, helping to digitize a traditional business that has been upended by modern convenience stores such as 7-Eleven. Vingroup announced Monday that its…
VinSmart, a subsidiary of Vietnam’s largest listed company Vingroup, has produced its first 5G smartphones in cooperation with the U.S.’s Qualcomm. The Vsmart Aris 5G model is equipped with a Snapdragon 765G 5G module platform and a quantum security chip, the…
Vingroup’s Vinpearl Air, a $200 million venture, is seeking to launch its first flight in July with expectations of turning profitable by 2023. The new airline could also recover its investment in 5-6 years, according to an evaluation report recently…
Vingroup is to complete its exit direct retail businesses, shutting down its electronic business VinPro within this month. The closure of Vinpro is considered a sudden decision as the group acquired electronics chain Vien Thong A last year with more than 200…
