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Vingroup Joint Stock Company (Vingroup JSC)
Vingroup, formerly known as Technocom Corporation, was founded in 1993 in Ukraine. In the early 2000s, Vingroup started in Vietnam with two key brands: Vincom and Vinpearl. In January 2012, Vinpearl JSC merged with Vincom JSC to form Vingroup Joint Stock Company.
Vingroup is one of the biggest private conglomerate in Asia with a market capitalization value of around US $16 billion. As a multi-sector corporation, Vingroup focuses on three main areas:
Vingroup continues to pioneer and lead consumer trends in each of its businesses while introducing Vietnamese consumers to an entirely new and modern lifestyle with products and services based on international standards. Vingroup has created a respected and well-recognized Vietnamese brand and is proud to be one of the nation’s leading private enterprises.
Construction of Vinpearl Nha Trang on Hon Tre Island was completed in a record-breaking 18 months
In June 2002, Vingroup embarked on the “impossible” plan of transforming Hon Tre Island in Nha Trang, Khanh Hoa, from a deserted island without electricity and water into one of Vietnam's most beautiful resort paradises!
After only 18 months of construction, Vinpearl Nha Trang, a 5-star resort complex with a capacity of 500 rooms, marked the beginning of Vingroup's development with record-breaking feats from then on.
Hon Tre has since become an island of national and international events. Also, from this initial “unthinkable” project, Vingroup has developed and operated a chain of 44 hotels, 5-star resorts, and several world-class amusement parks with the Vinpearl and VinWonders brands, spanning across the country.
Building the world's longest ocean-crossing cable car
In 2006, Vingroup officially commenced the construction of the 3,320m Vinpearl cable car, which was then recognized as the world's longest cable car over the ocean for 11 consecutive years from its opening. The Vinpearl cable car was constructed under challenging conditions. Many specialized types of equipment were unavailable in the Vietnamese market because they were never needed, especially equipment necessary for the structure and foundation of the cable car pillars rising from under the sea. This became the most challenging aspect of the project due to its immense technical requirements and the challenges it raised to the will and determination of the team. However, despite these obstacles, 28 pillars emerged from the sea after only eight months.
With the complexity level of this project being one of the highest the world has seen, the Vinpearl cable car represents a symbol of determination, bravery, and intelligence. These qualities make up the “Vingroup DNA” - giving Vingroup the strength to overcome all challenges and limitations.
Metropolitan transformation with Vinhomes real estate projects
Vingroup's journey to becoming the largest multi-disciplinary private economic group in Vietnam is also the journey to turn unspoiled lands into magnificent projects that contribute to the transformation of Vietnam.
One of the most outstanding projects is the Vinhomes Riverside Eco-Urban Area in Long Bien District (Hanoi). In 2011, construction only took eight months to transform nearly 200 hectares of the empty space into the “magnificent Venice in the heart of Hanoi”. Vinhomes Riverside laid the first ground-breaking stones for the real estate sector of Vingroup. In addition to providing a platform for the world-class “city in the city” model, the Vinhomes brand redefined the living standard for many people, bringing a new face to the Vietnamese metropolis.
Landmark 81, One of the World's Top 10 Skyscrapers – the symbol of a rising new Vietnam
In 2018, Landmark 81 was officially topped out by Vingroup at 461m, becoming one of the world's top 10 tallest buildings. Featuring architecture inspired by the image of traditional Vietnamese bamboo, Landmark 81 is a symbol of strength, solidarity, and the spirit of reaching the top of a new dynamic and fast-developing Vietnam.
At the time, Landmark 81 was a particularly challenging project because none of the domestic contractors could execute at that level.
On March 9, 2018, Landmark 81 was officially inaugurated, 45 days ahead of schedule. While not yet in operation, the building was awarded “World's Best High-Rise Building 2016” by the International Real Estate Award (IPA).
Representing the first time in international architecture and construction history, Landmark 81 is celebrated as the first skyscraper constructed entirely by Vietnamese people. As a result, Vietnam is proud to be listed in the “golden table” of the tallest buildings on the planet.
VinFast's world record for its 21-month construction and installation of its automobile factory
On June 14, 2019, VinFast inaugurated an automobile factory in Hai Phong, officially entering mass production. Within 21 months of construction and completion, the VinFast automobile factory achieved the world record for progress, taking the Vietnamese automobile industry to the next level.
The VinFast factory is built on an area that spans over 500 thousand square meters with a capacity to assemble up to 500,000 cars and 1 million e-scooters annually, making it one of the world's most scalable and modern assembly plants.
In particular, the VinFast factory is the only automobile factory in Vietnam that can master the core stages of production. As a result, it can manufacture the main components of its cars, such as hulls and engines. .... With its world-leading complete, synchronized, and highly automated production line, VinFast has affirmed its position as an independent car manufacturer.
A Proven go-to-market track record in capturing #1 market share in Vietnam across various segments
In May 2020, VinFast Fadil officially surpassed the Hyundai i10 to become the best-selling car in Vietnam for segment A. Meanwhile, VinFast Lux A2.0 and VinFast Lux SA2.0 were also the no. 1 models in the E-class sedan and SUV segment, overcoming the dominant BMW 5-series and Mercedes-Benz E-class.
It is worth mentioning that VinFast had established the feat of rapidly dominating the market in less than one year following the first commercial vehicle handover to customers (June 2019). Few automakers in the world can achieve such market penetration and development speed.
By the end of 2020, VinFast has become one of the best-selling car brands in Vietnam. In particular, the VinFast Fadil has sold more than 18,000 units, taking about 38% of the segment A market share, a record-breaking growth rate for any new car company entering the market.
At the “Car of the Year 2021” Award held in April 2021, all three models, the VinFast Fadil, Lux A2.0, and Lux SA2.0, won the most popular car in their respective segments with an overwhelming lead over the other competing brands.
VinFuture – One of the world's largest annual prizes in science and technology
On the day of International Solidarity of Humanity (20 December 2020), Vingroup announced the launch of VinFuture - one of the world's most valuable annual international science and technology awards, totaling up to VND 104.5 billion (equivalent to US$4.5 million) in prizes.
The award's mission is “to make positive changes in the daily lives of millions of people on Earth by promoting scientific research and technological innovation” .
The Award Council consists of 11 of the world's leading scholars in various fields who have won several prestigious accolades such as Nobel Prizes and Turing Awards. The VinFuture Award represents Vingroup's efforts in solving the common problems for humanity. The objectives and stature of the award have completely surpassed the country's framework, a people with its global influence and impact.
An outstanding Asian enterprise in the fight against Covid-19
In 2020, Vingroup made its mark with the global community when it was recognized as one of Asia's most prominent enterprises in the fight against Covid-19. Chairman Pham Nhat Vuong was honored as a Philanthropic Hero in Asia-Pacific by Forbes magazine. In the early stages of the pandemic, the Group decided to postpone production in its automobile and phone factories and redirected all its resources to produce ventilators to alleviate the world's severe shortage of medical equipment.
After three months, Vingroup completely mastered the technology behind producing ventilators. Thousands of Vsmart-branded ventilators have been awarded by Vingroup to people in Russia, Ukraine, and Singapore.
In addition to showing Vingroup's enthusiasm and social responsibility, it also affirms the potential and ability of Vietnam's science and technology development compared to developed countries.
Launching Vietnam's first EV brand In January 2021
VinFast showcased its goals of becoming a global smart electric car brand and promoting electric vehicle evolution when it announced its three smart electric SUVs - the VF e34, VF e35, and VF e36. On 24 March 2021, VinFast kickstarted the pre-order campaign for its first electric car VF e34. After 12 hours, the VF e34 received nearly 4,000 orders - a record that no automaker has ever been able to reach in the Vietnamese market. The figure has now surpassed 25,000 - an achievement that recognizes VF e34 and VinFast as the outstanding change agent in the Vietnamese EV industry.
According to the global expansion plan, VF e35 and VF e36 electric cars will be launched for pre-order in the US, Canada, and Europe from March 2022 with delivery starting from June 2022. With this significant step, VinFast will be the first Vietnamese automaker to export Vietnamese branded cars to the world, including the two most difficult markets, the US and Europe.
Opening of the region's leading 24/7 entertainment tourism complex
On 21 April 2021, Vingroup officially opened the "Phu Quoc United Center" - Vietnam's first 24/7 super complex in Northern Phu Quoc. Phu Quoc United Center, with a total area of more than 1,000 hectares, is developed under the model of "one destination for all". This major development project includes more than 12,000 resort rooms, the largest theme park in Vietnam - VinWonders Phu Quoc, one of Asia's largest semi-wildlife conservation parks - Vinpearl Safari, an 18-hole Vinpearl Golf course, the 5-star Corona Casino 5, Grand World 24/7 entertainment city, and Vinmec Hospital.
In addition to five national records for its product categories, the "sleepless city" model at Phu Quoc United Center also lays the foundation for developing Vietnam's night economy while becoming an impressive feat highlighting Vietnam as a new international destination on the world's tourism map.