According to VnExpress, since late 2022, Pham Nhat Vuong, Chairman of Vingroup, has used 535.6 million personally held VIC shares to capitalize new companies. These companies, all controlled by the billionaire, operate within Vingroup's ecosystem.
In late 2022, Vingroup announced that Vuong had transferred 243 million VIC shares to VMI Real Estate Management and Investment JSC. He used these shares to capitalize VMI, a real estate company that divides Vinhomes products for sale to smaller investors. Vuong currently holds a 90% stake in VMI.
In 3/2025, he invested a further 50.8 million VIC shares in Green and Smart Mobility JSC (GSM). Vuong holds a 95% stake in GSM, which provides car and electric motorbike rentals, and taxi services using VinFast vehicles.
This year, Vuong established VinEnergo Energy JSC and VinSpeed High-Speed Rail Investment and Development JSC, using similar investment methods. VinEnergo focuses on electricity production and electrical equipment, while VinSpeed focuses on railway construction and rolling stock production.
This year, Vingroup plans to expand into two new sectors: infrastructure and energy. The group currently operates in real estate, technology-industry, and social philanthropy.
At Vingroup's annual shareholders' meeting in April, a shareholder asked which business areas the group would invest in and which Vuong would personally invest in. "The group will invest in the promising areas; I'll take the challenging ones," Vuong replied.
Vuong established VinSpeed and VinEnergo to participate in the energy and railway sectors. On 9/6, Vingroup announced it would partner with VinEnergo to invest in the Hai Phong LNG thermal power project in the Tan Trao industrial park, Hai Phong City. The plant will occupy approximately 98.5 hectares with a designed capacity of 4,800MW.
VinSpeed has proposed investing in the North-South high-speed railway, with a total investment of approximately 61.35 billion USD, about 13% of Vietnam's GDP at the end of 2024. The company expects to complete the project within five years.
According to the proposal, VinSpeed will arrange 20% of the project's total investment, equivalent to about 12.27 billion USD. The remaining 80% will be borrowed from the state interest-free for 35 years from the disbursement date. VinSpeed will repay the state the entire loan after 35 years, despite expert estimations that the project's payback period could be up to 70 years. VinSpeed also seeks preferential treatment as the designated investor for urban and real estate projects near the railway stations.
Trong Hieu
