Vingroup, Vietnam’s largest private conglomerate, has unveiled plans for its subsidiary VinSmart to halt the manufacturing of televisions and smartphones to concentrate on developing electronic products and other components for VinFast cars.

The first quarter profit of Vingroup, owned by Vietnam’s richest man Pham Nhat Vuong, increased five times over the same period last year thanks to three major real estate projects and high growth in sales of VinFast cars and smartphones.

VinGroup's investment in the auto industry is a great challenge, coming from high aspirations and showing a sense of responsibility to the country.

Billionaire Pham Nhat Vuong's company has recorded impressive business results despite the Covid-19 pandemic. 

Vingroup’s billionaire Pham Nhat Vuong is taking an unexpected step entering the world's largest electric car market.

Korean conglomerate SK Group said it will make a strategic investment in VinCommerce, Vietnam’s largest retailer, to tap into the fast-growing e-commerce segment in the Southeast Asian market, reported Yonhap News Agency.

After Masan Group's acquisition of Vingroup’s retail chain, Masan’s Nguyen Dang Quang took great steps to master the $7 billion system and form an ecosystem for Vietnamese people.

Vietnam’s dollar billionaire Pham Nhat Vuong did not succeed with his plan to take over LG’s smartphone production division in Vietnam and Brazil, but has taken new moves in the US market.

Vingroup rejects rumour about selling its stake in Vinmec and Vinschool, reiterating that these two systems play a crucial role in the group’s ecosystem.

Vuong has made a number of moves recently to restructure his huge business system to shift his development strategy to technology, industry and services.

Instead of injecting money into the real estate or service sector which allows profit after a short time, Vietnam’s most powerful corporations are investing in the processing and manufacturing industry.

The country is expected to market a “Made-in-Vietnam” vaccine for the novel coronavirus (COVID-19) within the next nine to 12 months due to the vaccine research and manufacturing project enjoying strong progress, according to researchers.

A ventilator model produced by Vinsmart, a member of Vingroup, has obtained approval for sale from the Ministry of Health.

Vietnam has been advised to introduce a range of solutions aimed at attracting private investment in an effective manner with the private economic sector increasingly becoming a key part of the national economy,

5G appears to be high on the Vietnamese government’s priority list, with the earliest of services set to be commercialized in mid-2020 following trials conducted through 2019.

The system of facial recognition which identifies people with masks created by VinAI has sparked duscussion in the scientists’ community.

With the agreement announced on May 4, Vsmart has become the second brand of Vingroup cooperating with a leading Italian industrial designer.

Their network expansion strategy in normal conditions offers great advantages to retailers, but it has put a burden on them during the Covid-19 crisis.

Some large corporations have shifted to making products that can be useful in the fight against Covid-19. Vingroup has promised to make ventilators, and garment companies are making face masks from antibacterial fabric.

Vingroup has announced it has completed the design and is preparing to introduce to the market two invasive ventilator models which adhere strictly to international standards.