Vingroup JSC is a private conglomerate owned by entrepreneur Phạm Nhật Vượng as the largest shareholder, and headquartered in Hanoi, Vietnam. It focuses on technology, industry,[3] real estate development, retail, and services from healthcare to hospitality.
History
The group was founded in Ukraine on August 8, 1993 as Technocom. It started as a food company, initially producing dried food products, including instant noodles under the Mivina brand by Phạm Nhật Vượng. By 2000, the company began operations in Vietnam.[4]
In 2007, Vingroup was listed on the Ho Chi Minh City Stock Exchange.[5] In February 2010, it sold its Technocom facility in Ukraine and the Mivina brand to Nestlé for a deal worth approximately US$150 million.[6]
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. It launched an animal conservation program on Phú Quốc, Vietnam's largest island, in September 2015. The program had started with research and conservation of some rare animal species and their natural habitats by Vinpearl Safari.[7]
In October 2015, Vingroup bought the Vietnamese supermarket chain Maximark.[8] In 2016, it began operating its Vinmec healthcare and Vinschool education subsidiaries as non-profits.[5] In September 2017, Vingroup started construction of a car factory for the VinFast subsidiary.[9] In May 2018, 10% of Vinhomes was made public on the Ho Chi Minh City Stock Exchange.[10] 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.[11]
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.[12] 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.[13]
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.[14][15] In 2019, Vingroup's automobile subsidiary VinFast introduced 3 new combustion vehicles.[16] In March 2019, Vingroup acquired the e-wallet platform MonPay.[17] In May 2019, South Korean conglomerate SK Group bought a 6.1% stake in Vingroup for $1 billion.[18][19]
In May 2021, Vingroup announced that it would cease the production of smartphones and televisions.[20] Its 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."[21][22]
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.[23]
Subsidiaries
Vingroup was originally established as a merger of Vincom and VinPearl – businesses under Phạm Nhật Vượng ownership. Both of them exist as subsidiaries under Vingroup.
Hospitality, real estate, healthcare, and services
Vinhomes
Vinhomes is a subsidiary of residential real estate, villas, and other services. Vingroup develops real estate across 3 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),[24] affordable housing projects under Happy Town, and premium office leasing system (Vin Office).[25] 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.[26]
Vincom Retail
Vincom Retail is a commercial real estate and office subsidiary.[27] 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.[28]
Vinpearl
Vinpearl Resorts is a resort and hotel chain of Vingroup, providing hospitality, culture, and cuisine to customers. [29] Vinpearl operates resorts and tourism complexes across Vietnam, including Vinpearl Nha Trang, Vinpearl Đà Nẵng, Vinpearl Làng Vân, and Vinpearl Hải Giang.[29] Its high-end golf system operates under Vinpearl Golf.[30] The Vinpearl Hotel and Resort network includes 4 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.[31]
VinWonders
Vingroup operates amusement parks, ice rinks, and water parks under the VinWonders brand.[32] The group also manages the Vinpearl Safari wildfire care and conservation park in Phú Quốc, and VinWonders Nha Trang, VinWonders Phú Quốc, VinWonders Nam Hội An, and the Vinpearl Aquarium in Times City.[33]
VinMec
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.[34]
Vinhomes
Vinhomes is a subsidiary of residential real estate, villas, and other services. Vingroup develops real estate across 3 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),[24] affordable housing projects under Happy Town, and premium office leasing system (Vin Office).[25] 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.[26]
Vincom Retail
Vincom Retail is a commercial real estate and office subsidiary.[27] 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.[28]
Vinpearl
Vinpearl Resorts is a resort and hotel chain of Vingroup, providing hospitality, culture, and cuisine to customers. [29] Vinpearl operates resorts and tourism complexes across Vietnam, including Vinpearl Nha Trang, Vinpearl Đà Nẵng, Vinpearl Làng Vân, and Vinpearl Hải Giang.[29] Its high-end golf system operates under Vinpearl Golf.[30] The Vinpearl Hotel and Resort network includes 4 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.[31]
VinWonders
Vingroup operates amusement parks, ice rinks, and water parks under the VinWonders brand.[32] The group also manages the Vinpearl Safari wildfire care and conservation park in Phú Quốc, and VinWonders Nha Trang, VinWonders Phú Quốc, VinWonders Nam Hội An, and the Vinpearl Aquarium in Times City.[33]
VinMec
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.[34]
VinFast
VinFast was launched in 2017 to manufacture cars and motorcycles powered by internal combustion and electric engines.[35] The company planned 5 vehicle types: a 5-seater sedan, SUV, a compact car, an electric car, and an electric bus—all set to debut in 2019.[35] 2 internal combustion models—a 5-seat sedan and a 7-seat SUV—were introduced to the public in October 2018 at the Paris Motor Show.[36]
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.[37] In 2024, Vinfast launched the VF6 electric SUV in Europe and expanded its retail network in North America.[38]
Education
Vinschool
The Vinschool education system offers programs from kindergarten to high school. It operates 27 campuses in Hanoi and Ho Chi Minh, serving more than 23,000 students. Vinschool is the largest Vietnamese private school system in Vietnam.[39]
Vinuniversity
Vingroup established VinUniversity (VinUni) and VinMec University of Health Sciences.[40] It has signed strategic cooperation agreements with 2 Ivy League institutions- Cornell University[41] and the University of Pennsylvania (Penn).[42] On November 11, 2019, VInUni announced its first admissions cycle (2020-2021) for 3 academic fields: Business Administration, Health Sciences, and Engineering & Computer Science.[43] Admission includes 2 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.[43]
Vinschool
The Vinschool education system offers programs from kindergarten to high school. It operates 27 campuses in Hanoi and Ho Chi Minh, serving more than 23,000 students. Vinschool is the largest Vietnamese private school system in Vietnam.[39]
Vinuniversity
Vingroup established VinUniversity (VinUni) and VinMec University of Health Sciences.[40] It has signed strategic cooperation agreements with 2 Ivy League institutions- Cornell University[41] and the University of Pennsylvania (Penn).[42] On November 11, 2019, VInUni announced its first admissions cycle (2020-2021) for 3 academic fields: Business Administration, Health Sciences, and Engineering & Computer Science.[43] Admission includes 2 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.[43]
Entertainment and culture
In November 2025, Vingroup announced that they have invested in establishing 3 additional subsidiaries to preserve and promote Vietnamese traditional identity and culture.[44]
Other subsidiaries
- 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.[45]
- VinAI: Artificial intelligence research.[46]
- VinCSS: Cyber security services.[47]
- Thien Tam Fund: Philanthropic organization on behalf of Vingroup.[48]
- Green SM: Ridesharing company
Sold or dissolved subsidiaries
- VinSmart: Smartphones and televisions.
- VinCommerce: Convenience stores (VinMart+) and supermarkets (VinMart). The controlling stake was sold to Masan Group in 2019.[49] South Korean conglomerate SK Group has agreed to acquire a 16.3% stake.[50]
External links
References
- VinGroup Annual Report 2022^
- Home Vingroup Company^
- Vingroup to become tech-industry-service conglomerate Vietnam News, 2018-08-29^
- About Vingroup Vingroup^
- Annual Report 2016^
- Company Nestle bought the Kharkov trademark enterprise "Mivina" Economy of Ukraine, February 26, 2010^
- Vingroup begins animal conservation programme on Phu Quoc; safari next VietNamNet, 15 September 2015, retrieved 2 June 2019^
- Vingroup announces plan to buy supermarket chain Việt Nam News, retrieved 2019-06-02^
- Vietnam's Vingroup starts construction on $1-1.5 billion first... Reuters, 2017-09-02, retrieved 2019-06-02^
- Anshuman Daga. Vinhomes raises $1.35 billion in Vietnam's biggest share issue:... Reuters, 7 May 2018^
- Hue Chi. Vietnam's tallest Landmark opens for business – VnExpress International VnExpress, July 27, 2018^
- James Pearson. Fast and serious: Vietnam's first domestic car manufacturer bets big Reuters, 2018-10-03, retrieved 2019-06-02^
- Vietnam to host Formula 1 Grand Prix from 2020 Formula One, 2018-11-07, retrieved 2019-06-02^
- John Reed. Vingroup targets 30% Vietnam smartphone market with first mobile Financial Times, 15 December 2018, retrieved 2019-06-02^
- Vietnam's Vingroup targets global markets with smartphones in tech shift Reuters, 2018-12-14, retrieved 2019-06-02^
- Oanh Ha K, Kieu Giang Nguyen, John Boudreau. Vietnam's Richest Man Has a Plan to Save the Virus-Stricken World Bloomberg News, 2020-06-08, retrieved 2021-03-23^
- Quynh Nguyen. Vietnam's Vingroup acquires e-wallet platform MonPay DealStreetAsia, May 24, 2019, retrieved 2019-06-02^
- SK Group invests $1 billion in Vingroup as part of Vietnam expansion Reuters, 2019-05-16, retrieved 2019-06-02^
- SK Group to buy 6.1% stake in Vietnam's Vingroup for US$1b The Business Times, 2019-05-16, retrieved 2019-06-02^
- Tomoya Onishi. Vingroup makes quick exit out of smartphones in shift to EVs Nikkei Asia, May 11, 2021, retrieved 2022-02-12^
- Tomoya Onishi. Vingroup loses $1bn in manufacturing on poor sales of gasoline cars Nikkei Asia, February 9, 2022, retrieved 2022-02-12^
- Vingroup, Vietnam's top conglomerate, leaps into global markets The Economist, retrieved 2024-02-04^
- EV maker VinFast's losses heap pressure on parent Vingroup as foreign investors sell Reuters^
- VinCity 'biến mất', quyền lợi khách hàng ra sao? VinCity ‘biến mất’, quyền lợi khách hàng ra sao?, retrieved 2025-11-10^
- Vingroup sẽ bán căn hộ Happy Town với giá 200 triệu đồng Tuoi Tre Online, 2018-06-29, retrieved 2025-11-10^
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- Vincom Retail: A Catalyst Driving Vietnam's Retail Future sloveniatimes.com, 2024-11-22, retrieved 2025-12-09^
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- Classy Experience at Vinpearl Phu Quoc Golf Course! rootytrip.com, retrieved 2025-12-09^
- From Barren Island to Glittering Oasis: The Vinpearl Story vietnamnews.vn, retrieved 2025-12-09^
- VinWonders Phu Quoc (2025) - All You Need to Know BEFORE You Go (with Reviews) Tripadvisor, retrieved 2025-12-09^
- VinWonders: The Ultimate Traveler’s Guide to Fun and Adventure www.bamboohattours.com, retrieved 2025-12-09^
- Vinmec healthcare system MedicalTourism.vn, retrieved 2025-12-09^
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- VinFast. VinFast Steals the Show in Paris www.prnewswire.com, retrieved 2025-11-11^
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- VinFast officially begins operations in North America and Europe vietnamnews.vn, retrieved 2025-11-11^
- Asian Development Bank. ADB, Vinschool Sign First Sustainability-Linked Loan in Viet Nam’s Education Sector www.adb.org, 2025-03-18, retrieved 2025-12-09^
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- Home www.med.upenn.edu, retrieved 2025-12-09^
- VinUni calls for admission for the first academic year 2020-2021 english.vtv.vn, 2019-11-11, retrieved 2025-12-09^
- Vingroup announces culture as a new core pillar to develop world-class artistic spaces The Slovenia Times, 10 November 2025, retrieved 14 November 2025^
- Siêu ứng dụng thông minh cho người Việt VinID, retrieved 2021-12-31^
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- Vingroup opens three technology firms Việt Nam News, November 23, 2018, retrieved 2021-12-31^
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- SK Group acquires stake in VinCommerce for $410m Retail Insight Network, 2021-04-07, retrieved 2021-12-31^