Wikipedia

Vingroup

Vingroup JSC (Vietnamese: Tập đoàn Vingroup – Công ty CP, lit. 'Vingroup Group – JSC') is a private Vietnamese conglomerate owned by entrepreneur Phạm Nhật Vượng as the largest shareholder, and headquartered in Long Bien district, Hanoi. Vingroup is one of the largest conglomerates of Vietnam,[3] focusing on technology, industry,[4] real estate development, retail, and services from healthcare to hospitality. As of 2022, Vingroup's revenue and that of its subsidiaries accounted for nearly 1.1% of Vietnam's GDP⠀⠀

Vingroup Joint Stock Company
Vingroup Company
Native name
Tập đoàn Vingroup – Công ty CP
Company typePrivate
HOSE: VIC
IndustryConglomerate
PredecessorTechnocom Corporation
FoundedAugust 8, 1993; 32 years ago (1993-08-08) in Ukraine
as Technocom
FounderPhạm Nhật Vượng
HeadquartersVinhomes Riverside,
Long Bien District, Hanoi
,
Vietnam
Area served
Worldwide, primarily in Vietnam
Key people
RevenueDecreaseVNĐ101.8 trillion (2022)[1]
IncreaseVNĐ2.08 trillion (2022)
Number of employees
51,400 (2022)
SubsidiariesSee § Subsidiaries
Websitevingroup.net[2]

The company was founded in Ukraine in 1993 by property developer and entrepreneur Phạm Nhật Vượng as Technocom and originally produced food products.

History

edit

Vingroup was founded in Ukraine on August 8, 1993 as Technocom. It started as a food company, initially producing dried food products, notably instant noodles under the Mivina brand by Phạm Nhật Vượng. By 2000, the company began operations in Vietnam.[5]

In 2006, Vinpearl Land, the conglomerate's first amusement park, was opened in Nha Trang.[citation needed]

In 2007, Vingroup was listed on the Ho Chi Minh City Stock Exchange.[6]

In February 2010, Vingroup sold its Technocom facility in Ukraine and the Mivina brand to Nestlé for a deal worth approximately US$150 million.[7][verification needed]

In October 2014, Vingroup bought the supermarket chain OceanMart from Ocean Group and was rebranded as VinMart in a move to gain market share in the retail industry.[8] Vingroup also launched an animal conservation program on Phú Quốc, Vietnam's largest island, in September 2015. It had started with research and conservation of some rare animal species and their natural habitats by Vinpearl Safari.[9]

In October 2015, Vingroup bought the Vietnamese supermarket chain Maximark.[8]

In 2016, Vingroup began operating its Vinmec healthcare and Vinschool education subsidiaries as non-profits.[6]

In September 2017, Vingroup started construction of a car factory for the VinFast subsidiary.[10]

 
Landmark 81 tower

In May 2018, 10% of Vinhomes was made public on the Ho Chi Minh City Stock Exchange.[11] The 25th anniversary of Vingroup was celebrated by the opening of its Landmark 81 tower in Ho Chi Minh City, the tallest completed building in Southeast Asia at the time.[12]

In October 2018, Vingroup announced that VinFast, its car division, would become the first domestic car manufacturer, with an annual production capacity of 250,000 cars. $3.5 billion was invested in the development of this project.[13]

In November 2018, the city of Hanoi announced that the city would be hosting a Formula 1 Grand Prix starting in April 2020, with Vingroup as the promoter of the project. The race was later cancelled due to the COVID-19 pandemic.[14]

In December 2018, Vingroup entered the smartphone market with the launch of VinSmart phones, running on Android operating system. The smartphones are produced by the VinSmart unit.[15][16]

In 2019, Vingroup's automobile subsidiary VinFast introduced three new combustion vehicles.[17]

In March 2019, Vingroup acquired the e-wallet platform MonPay.[18]

In May 2019, South Korean conglomerate SK Group bought a 6.1% stake in Vingroup for $1 billion.[19][20]

In February 2020, Vinpearl Land rebranded as VinWonders.

In May 2021, Vingroup announced that it would cease the production of smartphones and televisions.[21] Vingroup's manufacturing division lost approximately $1.05 billion "due to sluggish sales of gasoline-powered cars at home and growing investments in the emerging electric vehicle business."[22][23]

In January 2025, Vingroup's market capitalization had declined by nearly half to approximately $6 billion since VinFast's listing in August 2023. Over the past year, its shares have fallen 6.6%, the largest drop among Vietnam's ten largest listed companies, underperforming the Vietnam market's 7.5% gain.[24]

Subsidiaries

edit
 
VinPearl Hotel Nha Trang
 
VinMec hospital

Vingroup was originally established as a merger of Vincom and VinPearl – the two businesses under Phạm Nhật Vượng ownership. Both of them still exist as significant subsidiaries under Vingroup.

Hospitality, real estate, healthcare, and services

edit

Vinhomes

edit

Vinhomes is a subsidiary of residential real estate, villas, and other services. Vingroup develops real estate across three main segments: high-end residential projects under the Vinhomes brand, mid-range housing originally branded VinCity (later renamed Vinhomes Sapphire, Vinhomes Ruby, and Vinhomes Diamond[25]), affordable housing projects under Happy Town, and premium office leasing system (Vin Office).[26] Notable developments include Vinhomes Royal City and Vincom Mega Mall, Vinhomes Times City & Park Hill, Vinhomes Nguyễn Chí Thanh, Vinhomes Riverside & Harmony Long Biên, Vinhomes Central Park and The Landmark 81, Vinhomes Dragon Bay Quảng Ninh, Vinhomes Imperia Hải Phòng, Vinhomes Skylake Phạm Hùng, Vinhomes Ocean Park Gia Lâm, Vinhomes Grand Park District 9, Vinhomes Smart City Tây Mỗ - Đại Mỗ, Vinhomes New Center Hà Tĩnh, Vinhomes Star City Thanh Hoá, Vinhomes Golden River District 1, Vinhomes West Point Nam Từ Liêm, and Vinhomes Green Bay Mễ Trì.[27]

Vincom Retail

edit

Vincom Retail is a commercial real estate and office subsidiary.[28] Key commercial complexes and projects include Vincom Mega Mall Royal City and Vincom Megal Mall Times City, Vincom Center Bà Triệu, Vincom Plaza Long Biên, Vincom Center Đồng Khởi, Vincom Plaza Đà Nẵng, Vincom Plaza Cần Thơ, Vincom Plaza Hạ Long, Vincom Plaza Thủ Đức, as well as the Vincom+ and Vincom Shophouse systems.[29]

Vinpearl

edit

Vinpearl Resorts is a resort and hotel chain of Vingroup, providing hospitality, culture, and cuisine to customers. [30]Vinpearl operates luxury resorts and tourism complexes across Vietnam, including Vinpearl Nha Trang, Vinpearl Đà Nẵng, Vinpearl Làng Vân, and Vinpearl Hải Giang.[30] Its high-end golf system operates under Vinpearl Golf.[31] The Vinpearl Hotel and Resort network includes four main brands: Vinpearl Luxury, Vinpearl Hotels & Resorts, Vinpearl Discovery, and VinOasis. Prominent properties include Vinpearl Luxury Đà Nẵng, Vinpearl Luxury Nha Trang, and Vinpearl Resort & Golf Phú Quốc.[32]

VinWonders

edit

Vingroup operates amusement parks, ice rinks, and water parks under the VinWonders brand.[33] The group also manages the Vinpearl Safari wildfire care and conservation park in Phú Quốc, as well as VinWonders Nha Trang, VinWonders Phú Quốc, VinWonders Nam Hội An, and the Vinpearl Aquarium in Times City.[34]

VinMec

edit

VinMec is a healthcare service subsidiary. The VinMec system includes the VinMec International General Hospital at Times City, Hanoi, and the VinMec Royal City International Clinic.[35]

VinFast

edit
See also: VinFast

VinFast was launched in 2017 to manufacture cars and motorcycles powered by both internal combustion and electric engines.[36] The company planned five vehicle types: a 5-seater sedan, SUV, a compact car, an electric car, and an electric bus—all set to debut in 2019.[36] Two internal combustion models—a five-seat sedan and a seven-seat SUV—were successfully introduced to the public in October 2018 at the Paris Motor Show.[37]

Since 2021, VinFast has established offices and operations in the United States, Canada, France, Germany, and the Netherlands. The company focuses on the development and export of electric vehicles.[38] In 2024, Vinfast launched the VF6 electric SUV in Europe and expanded its retail network in North America.[39]

Education

edit

Vinschool

edit

The Vinschool education system offers programs from kindergarten to high school. As of now, it operates 27 campuses in Hanoi and Ho Chi Minh, serving more than 23,000 students. Vinschool is also the largest Vietnamese private school system in Vietnam.[40]

Vinuniversity

edit

Vingroup established VinUniversity (VinUni) and VinMec University of Health Sciences.[41] It has signed strategic cooperation agreements with two Ivy League institutions- Cornell University[42] and the University of Pennsylvania (Penn).[43] On November 11, 2019, VInUni announced its first admissions cycle (2020-2021) for three academic fields: Business Administration, Health Sciences, and Engineering & Computer Science.[44] Admission includes two rounds: application evaluation and interview. Candidates are required to demonstrate proficiency or potential to study in English: artistic or athletic talent is considered an advantage.[44]

Entertainment and culture

edit
See also: 8Wonder

Since 2023, Vingroup has hosted annual 8Wonder music festivals, featuring Vietnamese and international artists, and other cultural and entertainment activities for audiences.

In November 2025, Vingroup announced that they have invested in establishing three additional subsidiaries to preserve and promote Vietnamese traditional identity and culture.[45]

  • V-Culture Talents: This subsidiary focuses on selecting, training, and developing young talents in music, performing arts and traditional cultural forms.
  • V-Film Cinema: This subsidiary operates in film production and distribution, television programming, photography, audio recording and music publishing. It also trains professionals across the film industry, from directors and screenwriters to actors.
  • V-Spirit: This subsidiary organises, promotes and manages cultural and artistic events, exhibitions, conferences and seminars.

Other subsidiaries

edit
  • VinFuture Prize: Annual international award, honoring health, technology, science, and sustainability achievements.
  • VinID: Providing Fintech, Loyalty and Digital Marketing services with roughly 7 million users in 2019.[46]
  • VinAI: Artificial intelligence research.[47]
  • VinBrain: Healthcare technology using AI and machine learning.
  • VinBigData: AI and data science applications for business.
  • VinCSS: Cyber security services.[48]
  • VinHMS: Hotel management software.
  • Thien Tam Fund: Philanthropic organization on behalf of Vingroup.[49]
  • Green SM: Ridesharing company

Sold or dissolved subsidiaries

edit

References

edit
  1. ^ "VinGroup Annual Report 2022" (PDF).
  2. ^ "Home". Vingroup Company.
  3. ^ Nguyen, Daisy (February 5, 2020). "Vietnam's largest conglomerate reports huge profits". Vietnam Insider. Archived from the original on November 28, 2020. Retrieved April 14, 2021.
  4. ^ "Vingroup to become tech-industry-service conglomerate". Vietnam News. August 29, 2018.
  5. ^ "About Vingroup". Vingroup.
  6. ^ a b Annual Report 2016 (PDF), archived from the original (PDF) on July 27, 2018
  7. ^ "Company Nestle bought the Kharkov trademark enterprise "Mivina"". Economy of Ukraine. February 26, 2010. Archived from the original on March 1, 2010.
  8. ^ a b "Vingroup announces plan to buy supermarket chain". Việt Nam News. Archived from the original on October 1, 2020. Retrieved June 2, 2019.
  9. ^ "Vingroup begins animal conservation programme on Phu Quoc; safari next". VietNamNet. September 15, 2015. Archived from the original on June 2, 2019. Retrieved June 2, 2019.
  10. ^ "Vietnam's Vingroup starts construction on $1-1.5 billion first..." Reuters. September 2, 2017. Retrieved June 2, 2019.
  11. ^ Daga, Anshuman (May 7, 2018). "Vinhomes raises $1.35 billion in Vietnam's biggest share issue:..." Reuters.
  12. ^ Chi, Hue (July 27, 2018). "Vietnam's tallest Landmark opens for business – VnExpress International". VnExpress.
  13. ^ Pearson, James (October 3, 2018). "Fast and serious: Vietnam's first domestic car manufacturer bets big". Reuters. Retrieved June 2, 2019.
  14. ^ "Vietnam to host Formula 1 Grand Prix from 2020 | Formula 1®". Formula One. November 7, 2018. Retrieved June 2, 2019.
  15. ^ Reed, John (December 15, 2018). "Vingroup targets 30% Vietnam smartphone market with first mobile". Financial Times. Retrieved June 2, 2019.
  16. ^ "Vietnam's Vingroup targets global markets with smartphones in tech shift". Reuters. December 14, 2018. Retrieved June 2, 2019.
  17. ^ K, Oanh Ha; Nguyen, Kieu Giang; Boudreau, John (June 8, 2020). "Vietnam's Richest Man Has a Plan to Save the Virus-Stricken World". Bloomberg News. Retrieved March 23, 2021.
  18. ^ Nguyen, Quynh (May 24, 2019). "Vietnam's Vingroup acquires e-wallet platform MonPay". DealStreetAsia. Retrieved June 2, 2019.
  19. ^ "SK Group invests $1 billion in Vingroup as part of Vietnam expansion". Reuters. May 16, 2019. Retrieved June 2, 2019.
  20. ^ "SK Group to buy 6.1% stake in Vietnam's Vingroup for US$1b". The Business Times. May 16, 2019. Retrieved June 2, 2019.
  21. ^ Onishi, Tomoya (May 11, 2021). "Vingroup makes quick exit out of smartphones in shift to EVs". Nikkei Asia. Retrieved February 12, 2022.
  22. ^ Onishi, Tomoya (February 9, 2022). "Vingroup loses $1bn in manufacturing on poor sales of gasoline cars". Nikkei Asia. Retrieved February 12, 2022.
  23. ^ "Vingroup, Vietnam's top conglomerate, leaps into global markets". The Economist. ISSN 0013-0613. Retrieved February 4, 2024.
  24. ^ "EV maker VinFast's losses heap pressure on parent Vingroup as foreign investors sell". Reuters.
  25. ^ "VinCity 'biến mất', quyền lợi khách hàng ra sao?". VinCity ‘biến mất’, quyền lợi khách hàng ra sao? (in Vietnamese). Retrieved November 10, 2025.
  26. ^ "Vingroup sẽ bán căn hộ Happy Town với giá 200 triệu đồng". Tuoi Tre Online (in Vietnamese). June 29, 2018. Retrieved November 10, 2025.
  27. ^ "Tổng hợp các dự án Vinhomes của Vingroup". Thu Vien Phap Luat Viet Nam. January 24, 2025.
  28. ^ "Vincom Retail | Case Studies | Warburg Pincus". Retrieved December 9, 2025.
  29. ^ "Vincom Retail: A Catalyst Driving Vietnam's Retail Future". sloveniatimes.com. November 22, 2024. Retrieved December 9, 2025.
  30. ^ a b "Vinpearl's Multi-Experience Resorts: A "Back to Nature" Experience that's Anything but Boring". www.newsvoir.com. Retrieved December 9, 2025.
  31. ^ "Classy Experience at Vinpearl Phu Quoc Golf Course!". rootytrip.com. Archived from the original on September 9, 2025. Retrieved December 9, 2025.
  32. ^ "From Barren Island to Glittering Oasis: The Vinpearl Story". vietnamnews.vn. Retrieved December 9, 2025.
  33. ^ "VinWonders Phu Quoc (2025) - All You Need to Know BEFORE You Go (with Reviews)". Tripadvisor. Archived from the original on August 17, 2025. Retrieved December 9, 2025.
  34. ^ "VinWonders: The Ultimate Traveler's Guide to Fun and Adventure". www.bamboohattours.com. Retrieved December 9, 2025.
  35. ^ "Vinmec healthcare system". MedicalTourism.vn | Premium Healthcare & Travel in Vietnam. Retrieved December 9, 2025.
  36. ^ a b Degen, Matt (April 29, 2022). "What is VinFast? All About the New Vietnamese Automaker". Kelley Blue Book. Retrieved December 9, 2025.
  37. ^ VinFast. "VinFast Steals the Show in Paris". www.prnewswire.com. Retrieved November 11, 2025.
  38. ^ "VinFast officially begins operations in North America & Europe | VinFast". vinfastauto.us. Retrieved November 11, 2025.
  39. ^ "VinFast officially begins operations in North America and Europe". vietnamnews.vn. Retrieved November 11, 2025.
  40. ^ Bank, Asian Development (March 18, 2025). "ADB, Vinschool Sign First Sustainability-Linked Loan in Viet Nam's Education Sector". www.adb.org. Retrieved December 9, 2025.
  41. ^ "Đảng bộ tỉnh Hưng Yên, DANG BO TINH HUNG YEN". tuyengiao.hungyen.dcs.vn (in Vietnamese). Retrieved November 10, 2025.
  42. ^ Johnson, Cornell SC. "VinUniversity Project". Cornell SC Johnson. Retrieved December 9, 2025.
  43. ^ "Home | Vingroup-Penn Alliance | Perelman School of Medicine at the University of Pennsylvania". www.med.upenn.edu. Retrieved December 9, 2025.
  44. ^ a b "VinUni calls for admission for the first academic year 2020-2021". english.vtv.vn (in Vietnamese). November 11, 2019. Retrieved December 9, 2025.
  45. ^ "Vingroup announces culture as a new core pillar to develop world-class artistic spaces". The Slovenia Times. November 10, 2025. Retrieved November 14, 2025.
  46. ^ "Siêu ứng dụng thông minh cho người Việt". VinID (in Vietnamese). Retrieved December 31, 2021.
  47. ^ "VinAI - Intelligence for Tomorrow, Today". VinAI. Retrieved August 4, 2024.
  48. ^ "Vingroup opens three technology firms". Việt Nam News (in Vietnamese). November 23, 2018. Retrieved December 31, 2021.
  49. ^ "Quỹ Thiện Tâm – Giới thiệu – LỜI MỞ ĐẦU". quythientam.com (in Vietnamese). Archived from the original on June 23, 2018.
  50. ^ Dougn, Dean (December 3, 2019). "VinCommerce and VinEco of Vingroup will be merged with Masan Consumer". Vietnam Insider.
  51. ^ "SK Group acquires stake in VinCommerce for $410m". Retail Insight Network. April 7, 2021. Retrieved December 31, 2021.
edit
  •   Media related to Vingroup at Wikimedia Commons
  • Official website
  • Vingroup on Facebook
Retrieved from "https://en.wikipedia.org/w/index.php?title=Vingroup&oldid=1337587568"