Vingroup Joint Stock Company (), is the largest conglomerate of Vietnam, focusing on technology, industry, real estate development, retail, and services ranging from healthcare to hospitality. The company was founded by property developer and entrepreneur

Phạm Nhật Vượng Phạm Nhật Vượng (born 5 August 1968) is a Vietnamese property developer and Vietnam's first billionaire. He is the founder and chairman of Vingroup. Personal life Vượng was born on 5 August 1968 in Hanoi; his paternal family has o ...

History

Vingroup was founded in

Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inva ...

on August 8, 1993 as Technocom, originally producing

dried foods Drying is a mass transfer process consisting of the removal of water or another solvent by evaporation from a solid, semi-solid or liquid. This process is often used as a final production step before selling or packaging products. To be considered ...

, such as

instant noodles Instant noodles, or instant ramen, is a type of food consisting of noodles sold in a precooked and dried block with flavoring powder and/or seasoning oil. The dried noodle block was originally created by flash frying cooked noodles, and this is ...

, mainly under the ''Mivina'' brand by

. In 2000, the company began operations in

Vietnam Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making ...

. In 2006, Vinpearl Land, the first amusement park was opened in

Nha Trang Nha Trang ( or ; ) is a coastal city and capital of Khánh Hòa Province, on the South Central Coast of Vietnam. It is bounded on the north by Ninh Hoà town, on the south by Cam Ranh city and on the west by Diên Khánh District. The city ha ...

. In 2007, Vingroup was listed on the

Ho Chi Minh City Stock Exchange Ho Chi Minh Stock Exchange (HOSE), formerly known as HCM Securities Trading Center, is a stock exchange in Ho Chi Minh City, Vietnam. It was established in 1998 under Decision No. 127/1998/QD-TTg of the Prime Minister of Vietnam. HCM Securities ...

. In 2010, Vingroup sold its Ukraine operation to

Nestlé Nestlé S.A. (; ; ) is a Switzerland, Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest publicly held food company in the world, measured by revenue and other me ...

for $150 million USD. In October 2014, Vingroup bought the

supermarket chain A supermarket is a self-service Retail#Types of outlets, shop offering a wide variety of food, Drink, beverages and Household goods, household products, organized into sections. This kind of store is larger and has a wider selection than earli ...

OceanMart in a move to gain market share in the retail industry, and renamed it VinMart. In September 2015, Vingroup launched a major animal conservation program on

Phú Quốc Phú Quốc () is the largest island in Vietnam. Phú Quốc and nearby islands, along with the distant Thổ Chu Islands, are part of Kiên Giang Province as Phú Quốc City, the island has a total area of and a permanent population of appr ...

, Vietnam's largest island. In October 2015, Vingroup bought the Vietnamese supermarket chain Maximark. In 2016, Vingroup began operating their Vinmec healthcare and Vinschool education subsidiaries as

non-profits A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

. In September 2017, Vingroup started construction of a car factory for the

VinFast VinFast LLC is a Vietnamese private automotive company headquartered in Vietnam. Established in 2017, it is a member of the conglomerate organization Vingroup, that was founded by Phạm Nhật Vượng. It is the first Vietnamese car brand ...

subsidiary. Landmark 81 cropped

In May 2018, 10% of

Vinhomes Vinhomes is the largest commercial real estate developer in Vietnam. Founded as a subsidiary of Vingroup, the company was spun off in 2018 and 10% of shares sold in an IPO. After the first day of trading, the company was already the second larg ...

was made public on the

. The 25 year anniversary of Vingroup was celebrated by the opening of the Vingroup owned

Landmark 81 Landmark 81 is a supertall skyscraper in Ho Chi Minh City, Vietnam. The investor and primary developer for the project is Vinhomes, a Vietnamese corporation that is also the country's largest real-estate company. Landmark 81 is the tallest buil ...

tower in Ho Chi Minh City, the tallest completed building in Southeast Asia at the time. In October 2018, Vingroup announced that VinFast, its car division, would become the first domestic

car manufacturer This is a list of notable automobile manufacturers with articles on Wikipedia by country. It includes companies that are in business as well as defunct manufacturers. Only companies that have articles here are included. A Algeria * SNVI ...

, with an annual production capacity of 250,000 cars. $3.5 billion was invested in the development of this project. In December 2018, Vingroup entered the

smartphone A smartphone is a portable computer device that combines mobile telephone and computing functions into one unit. They are distinguished from feature phones by their stronger hardware capabilities and extensive mobile operating systems, whi ...

market with the launch of VSmart phones, running on Android. The smartphones are produced by the

VinSmart VinSmart Research & Manufacturer Joint Stock Company is a member of Vingroup Joint Stock Company – one of the biggest wholly owned conglomerates in Vietnam, specialising in Technology, Industry, Commercials & Services. VinSmart was establish ...

unit. In November 2018, the city of

Hanoi Hanoi or Ha Noi ( or ; vi, Hà Nội ) is the capital and second-largest city of Vietnam. It covers an area of . It consists of 12 urban districts, one district-leveled town and 17 rural districts. Located within the Red River Delta, Hanoi i ...

announced that the city would be hosting a

Formula 1 Grand Prix Formula One, abbreviated to F1, is the highest class of open-wheeled auto racing series managed by the Fédération Internationale de l'Automobile (FIA), motorsport's world governing body. The "formula" in the name alludes to a series of FIA ...

starting in April 2020, with Vingroup as the promoter of the project. The race was later cancelled due to the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

. In 2019, Vingroup automobile subsidiary VinFast introduced three new combustion vehicles. In March 2019, Vingroup acquired the

e-wallet A digital wallet, also known as an e-wallet, is an electronic device, online service, or software program that allows one party to make electronic transactions with another party bartering digital currency units for goods and services. This can ...

platform MonPay. In May 2019, South Korean conglomerate

SK Group SK Group ( Korean: SK그룹, 에스케이그룹) is the second largest South Korean chaebol behind Samsung Group. SK Group is composed of 186 subsidiaries and affiliates that share the SK brand name and the group's management culture, named SKMS ...

bought a 6.1% stake in Vingroup for $1 billion. In February 2020, Vinpearl Land rebranded as VinWonders In May 2021, Vingroup announced that it would cease the production of smartphones and televisions. On February 9, 2022, Nikkei reported that Vingroup lost approximately $1.05 billion in 2021 "at its manufacturing segment last year due to sluggish sales of gasoline-powered cars at home and growing investments in the emerging electric vehicle business."

Subsidiaries

: Residential

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to other ...

: Automobile, cars, and motorbike manufacturing *

VinBus VinBus or VinBus LLC, formally the VinBus Ecology Transport Services LLC (), is a Vietnamese privately-operated non-profit bus route network service established by Vingroup in 2019. History The VinBus subsidiary was announced by Vingroup on May ...

: Operator of

electric buses Electricity is the set of physical phenomena associated with the presence and motion of matter that has a property of electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as described by ...

Smartphones A smartphone is a portable computer device that combines mobile telephone and computing functions into one unit. They are distinguished from feature phones by their stronger hardware capabilities and extensive mobile operating systems, whic ...

and

televisions Television, sometimes shortened to TV, is a telecommunication medium for transmitting moving images and sound. The term can refer to a television set, or the medium of television transmission. Television is a mass medium for advertising, ...

* Vincom:

Shopping malls A shopping mall (or simply mall) is a North American term for a large indoor shopping center, usually anchored by department stores. The term "mall" originally meant a pedestrian promenade with shops along it (that is, the term was used to refe ...

(Vincom Centre, Vincom Plaza, Vincom Mega Mall, Vincom+) * VinPearl:

Resorts A resort (North American English) is a self-contained commercial establishment that tries to provide most of a vacationer's wants, such as food, drink, swimming, lodging, sports, entertainment, and shopping, on the premises. The term ''resort' ...

* VinSchool:

K-12 Education K-1 is a professional kickboxing promotion established in 1993, well known worldwide mainly for its heavyweight division fights and Grand Prix tournaments. In January 2012, K-1 Global Holdings Limited, a company registered in Hong Kong, acquired ...

* VinWonders :

Amusement parks An amusement park is a park that features various attractions, such as rides and games, as well as other events for entertainment purposes. A theme park is a type of amusement park that bases its structures and attractions around a central ...

and attractions such as an ice skating rink and a water park and Vinpearl Safari Phu Quoc. * VinMec: Officially opened in 2012, VinMec currently consists of 7 general hospitals and 2 clinics. * VinUniversity: Higher education institution, in partnership with

Cornell University Cornell University is a private statutory land-grant research university based in Ithaca, New York. It is a member of the Ivy League. Founded in 1865 by Ezra Cornell and Andrew Dickson White, Cornell was founded with the intention to tea ...

and

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a Private university, private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest- ...

* VinFa: Pharmaceutical * VinID: Technology product development – providing Fintech, Loytal and Digital Marketing services with roughly 7 million users in 2019. *VinCommerce:

Convenience stores A convenience store, convenience shop, corner store or corner shop is a small retail business that stocks a range of everyday items such as coffee, groceries, snack foods, confectionery, soft drinks, ice creams, tobacco products, lottery ticke ...

(VinMart+) and supermarkets (VinMart). Controlling stake sold to

Masan Group Masan Group Corporation, (), is among the top three largest private sector companies in Vietnam in terms of market capitalization. The group was founded and is headquartered in Ho Chi Minh city. Its subsidiaries include Masan Food (consumer stapl ...

in 2019, but VinGroup retains a large stake. South Korean conglomerate SK Group has agreed to acquire a 16.3% * VINCSS:

Network Security Network security consists of the policies, processes and practices adopted to prevent, detect and monitor unauthorized access, misuse, modification, or denial of a computer network and network-accessible resources. Network security involves th ...

Services *Vincom Office: Office real estate *VinES (Vin Energy Solution): EV battery manufacturer * VinBigData: Big Data * VinAI: Artificial Intelligence * Thien Tam Fund: Philanthropical organization on behalf of Vingroup

References

External links

* * * {{authority control Conglomerate companies established in 1993 Real estate companies established in 1993 1993 establishments in Vietnam Vietnamese companies established in 1993 Conglomerate companies of Vietnam