HANOI • Vingroup, one of Vietnam's largest private business groups, is aiming high, with aspirations to make its mark on the global economic map.
One of the country's leading real estate developers and retail sector giants, it has set a bold goal to grow revenue by 40 per cent this year.
VinEco, which is leading the group's foray into agriculture, aims to provide safe and clean food. It plans to export some of Vietnam's dominant agricultural products to Singapore, Malaysia, Hong Kong, Japan and Dubai.
In the healthcare industry, the group is collaborating with partners in the United States, Japan, France and Singapore to provide quality treatment for serious diseases such as cancer, diabetes and cardiovascular conditions.
Vingroup's market capitalisation is estimated at nearly US$5 billion (S$6.8 billion), based on its share price on the Ho Chi Minh City Stock Exchange on July 28.
Group founder and chairman Pham Nhat Vuong was a rare Vietnamese entry in the Forbes list of the world's billionaires in 2013, with total assets valued at US$1.5 billion. His net assets were estimated at US$2.4 billion on Forbes' website as of July 28.
With a stake of around 65 per cent in Vingroup, directly and indirectly through the Vietnam Investments Group, he has been on the list of the 10 richest people on the Vietnamese stock market for eight consecutive years.
Vingroup founder and chairman Pham Nhat Vuong was a rare Vietnamese entry in the Forbes list of the world's billionaires in 2013, with total assets valued at US$1.5 billion. His net assets were estimated at US$2.4 billion on Forbes' website as of July 28.
Born in 1968, he studied in Moscow. He later started his business Technocom Group by making fast food in Ukraine, building a popular brand called Mivina, with annual sales of US$150 million. He returned to Vietnam in the early 2000s, and began investing in the country's real estate at the time of "hot land fever".
Later, he sold his food company in Ukraine to Nestle, after which he relocated his entire business to Vietnam. In 2001, he founded Vinpearl Land, focusing on hospitality and leisure in Nha Trang. In 2002, he began developing commercial real estate under the brand name Vincom in Ha Noi.
The Vincom Joint Stock Company (Vingroup) was established in 2002. The company has emerged as a prominent player in the retail, office and commercial real estate sectors. Its many famous projects include the Vincom Mega Mall Royal City in Hanoi, which is said to be Asia's largest underground retail and entertainment complex.
VIET NAM NEWS/ASIA NEWS NETWORK
•This is a special series of articles by The Straits Times and its media partner Asia News Network to mark Asean's golden jubilee. Read about businesses from Indonesia, the Philippines, Myanmar and Laos tomorrow, in the third and final part of this series.