Business Daily Media

The Times Real Estate

.

Vingroup: A Vietnamese Trailblazer on the Path to Global Prominence

With bold ventures across multiple industries, Vingroup exemplifies Vietnam's potential on the world stage, becoming a symbol of innovation, ambition, and national pride.

HANOI, VIETNAM - Media OutReach Newswire - 4 September 2024 - Founded in 1993 by Pham Nhat Vuong, Vingroup has rapidly transformed into Vietnam's largest private conglomerate.

Over the past three decades, the company has played a crucial role in the nation's development, reshaping the physical landscape and improving the lives of millions. Today, Vingroup is recognized as a multi-industry leader, with a diverse range of businesses including Industry, Technology, Commerce, Services, and Social Philanthropy.

The Landmark 81 Building in Ho Chi Minh City.
The Landmark 81 Building in Ho Chi Minh City.


A Pillar of Sustainable Economic Growth

Vingroup's contributions to the Vietnamese economy are immense. In 2023, the company emerged as the largest taxpayer in Vietnam, underlining its pivotal role in the nation's economic engine. It led the list of the top 100 private enterprises contributing the most to the state budget, with a total contribution of approximately VND 30.9 trillion (about $1.32 billion) in 2023. Combined with Vinhomes and VinFast, entities related to billionaire Pham Nhat Vuong contributed over VND 51 trillion (around $2.2 billion), accounting for more than a quarter of the total contributions from the top 100 private enterprises in Vietnam.

Vingroup's commitment to innovation has led to the development of products and services that have significantly improved the quality of life for millions of Vietnamese. Its commitment to sustainable development is exemplified by its strategic focus on green transformation, particularly in the areas of green real estate and electric vehicles.

In the real estate sector, Vinhomes has been a pioneer in creating "green" urban areas that not only offer luxurious living spaces but also incorporate sustainable design and construction practices. Projects like Vinhomes Ocean Park and Vinhomes Smart City are designed with a strong emphasis on environmental sustainability, featuring extensive green spaces, energy-efficient buildings, and advanced waste management systems. These developments are setting new standards in Vietnam for environmentally responsible urban planning, making them attractive to both local and international investors.

Vingroup's automotive arm, VinFast, has made significant strides in the electric vehicle industry, contributing to the global push for greener transportation. VinFast's transition to producing fully electric vehicles, including cars and e-scooters, marks a bold step toward reducing Vietnam's carbon footprint and promoting sustainable mobility.

A Trailblazer With Global Vision

Vingroup's influence extends far beyond Vietnam's borders. The company's innovative products, particularly in the automotive sector, have garnered international attention, enhancing Vietnam's reputation as a hub for cutting-edge technology and manufacturing. Its projects have attracted substantial foreign investment, further bolstering Vietnam's economic resilience and positioning the country as a key player in the global market.

The key to Vingroup's success lies in the relentless entrepreneurial spirit of its founder, Pham Nhat Vuong. This drive is evident in the company's ongoing expansion into diverse industries. Vingroup's bold approach to exploring uncharted territories has not only propelled its growth but has also inspired other Vietnamese businesses to think big and aim high.

VinFast has made global headlines as the first Vietnamese car manufacturer to be listed on the U.S. stock exchange. Rapidly expanding its presence in key international markets, VinFast has solidified its position as the second-largest EV manufacturer in Southeast Asia. By launching electric cars in North America, Europe, and Asia, the company is showcasing Vietnam's technological capabilities and proving its ability to compete with established global brands. This success has earned VinFast a spot on the "TIME 100 Most Influential Companies 2024" list, alongside industry giants like Google, Microsoft, and Amazon.

The VinFuture Prize, an international science and technology award established by Vingroup in 2021, further cements the group's commitment to global innovation. This award not only honors groundbreaking inventions that positively impact human life but also brings the world's most advanced scientific achievements to Vietnam. It highlights Vingroup's dedication to promoting scientific research and development, both in Vietnam and globally, fostering a culture of innovation that will benefit future generations.

Through VinFast and VinFuture, Vingroup is positioning Vietnam as a significant contributor to global scientific and technological advancements. This vision of connecting global intellect and fostering international collaboration is a reflection of Vingroup's broader mission to elevate Vietnam's status on the global stage.

A Mission Beyond Profit

At the heart of Vingroup's success is a mission that goes beyond profit. The company is deeply committed to contributing to the nation's development and improving the lives of its people. Vingroup's extensive philanthropic activities, including scholarships through VinUni and Vinschool, free medical services at Vinmec, and disaster relief efforts, demonstrate its dedication to social responsibility.

Through its investments in education and healthcare, Vingroup is not only enhancing the quality of life in Vietnam but also helping to build a more prosperous and equitable society. The group's initiatives are creating opportunities for thousands of young people, helping them to realize their potential and contribute to the nation's future.

Vingroup's story is not just about business success; it is also about inspiring the next generation of Vietnamese entrepreneurs and innovators. The company's relentless pursuit of excellence, its willingness to take risks, and its commitment to contributing to the nation have set an example for young people across the country. Vingroup's success underscores the importance of entrepreneurship, innovation, and resilience in the face of challenges.

Hashtag: #Vingroup


The issuer is solely responsible for the content of this announcement.

News from Asia

SonicWall Redefines Cybersecurity, Sets New Standard with Next Generation Network Security Solutions Built for MSPs

Delivering peace of mind with layered security, co-managed services and a unified management platform, SonicWall is helping partners grow services profitably through its continued innovation levera...

BNM’s Policy Rate Call Looms: Octa Broker Highlights Inflation, Exchange Rate and Trade Challenges

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 6 May 2025 - This Thursday, Bank Negara Malaysia (BNM) will announce its policy rate decision. While most analysts expect no change, Octa Broker ...

TDCX retains rank as the top Southeast Asian outsourced CX provider

Among top 17 globally in OA500 Index that evaluates BPO firms worldwide SINGAPORE - Media OutReach Newswire - 7 May 2025 - TDCX, a leading global business process outsourcing (BPO) company for te...

NIA Eyes Green Tech Unicorns Within Three Years, Four Thai Startups Set to Showcase at ‘Web Summit Qatar 2025’ as Global Green Innovation Market Forecasts 25% Annual Growth Over the Next Decade

BANGKOK, THAILAND - Media OutReach Newswire - 7 May 2025 - The Ministry of Higher Education, Science, Research and Innovation (MHESI), through the National Innovation Agency (Public Organization)...

Trend Micro Delivers AI-Powered Threat Detection with AWS Infrastructure Support and NVIDIA Integration

Proactive security with AI-powered model built for modern enterprise workloads HONG KONG SAR - Media OutReach Newswire - 7 May 2025 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cyb...

Bee Choo Origin Strengthens CSR Efforts with Electric Van Donation to NKF

SINGAPORE - Media OutReach Newswire - 7 May 2025 – Bee Choo Origin, Singapore’s leading herbal hair care brand that specialises in hair fall treatment and oily scalp treatment, has reaffirmed it...

SMART launches new research group WISDOM to pioneer technologies that will help machines "see" like humans

Multi-million-dollar, three-and-a-half-year programme to advance Singapore’s optoelectronics and photonics capabilities and semiconductor industry, which generated over S$133 billion in 202...

Vingroup and the Rise of the ESG Ecosystem

Vingroup is positioning itself to lead Vietnam's ESG push, using its broad business network to drive sustainable growth at home and abroad, while eyeing partnerships in the Middle East's expanding ...

DFI Retail Group and Dingdong Announce Strategic Partnership With first-year sales target of HKD100 million

HONG KONG SAR - Media OutReach Newswire - 7 May 2025 - DFI Retail Group (DFI or the Group), and Dingdong (Cayman) Limited (Dingdong or DDL), a leading fresh food e-commerce platform in the mainlan...

Blue Cross Surpasses Market Average with Over 20% Growth in 2024

HONG KONG SAR - Media OutReach Newswire - 7 May 2025 - Blue Cross (Asia-Pacific) Insurance Limited ("Blue Cross") reported outstanding performance in the 2024 provisional statistics for Hong Kong ...

UNSW startup accelerator offers $200K to the next generation of Australian deeptech unicorns

UNSW Founders, Australia’s most recommended startup accelerator, has partnered with fund manager Luminary Partners to invest $200,000 each into 18...

The Future Is Now: AI Modernization Is Reshaping How Business Gets Done

The present business environment imposes stronger requirements on Australian organizations to match the fast-paced digital-first economy requireme...

Businesses losing an average of $493k from data integrity flaws

Managing data responsibly and effectively for the AI age can give organisations a strong competitive advantage, but many are failing to harness th...

AI shopping disruptor Zyft raises $7.5M to lead the next gen of retail tech

Zyft appoints new CEO, Richard Stevens, to lead the latest Waller Group success story, valued at $30 million SYDNEY, 28 April 2025: Zyft, the lea...

Little known law offers savvy Kiwis the opportunity to supercharge their retirement savings

A little-known legal amendment is being leveraged by savvy New Zealanders and expat Brits to supercharge their retirement savings. Not many peop...

Cutting edge AI technology designed for doctors to reduce patient wait times launched in NZ

New Zealand specialist doctors now have access to Artificial Intelligence technology to help reduce patient wait times and experts say it could be...

Sell by LayBy