The Government Standing Committee recently held a meeting with businesses on tasks and solutions for private businesses to accelerate, make breakthroughs, and contribute to the country's rapid and sustainable development in the new era. During this meeting, leaders of many large enterprises belonging to private corporations expressed their opinions, thoughts, and aspirations to contribute to the development of production and business, towards the new era.
The Prime Minister and delegates attending the conference took a photo together, called the "billion dollar" photo, where many leaders of large enterprises such as Vingroup, Hoa Phat, BRG , T&T, FPT, Thaco, Geleximco, Thanh Thanh Cong, REE... gathered.
Vingroup Corporation
Attending the meeting with the Prime Minister, representing Vingroup was Mr. Nguyen Viet Quang - General Director. Mr. Quang was born in 1968, has a master's degree in law, bachelor's degree in business administration from the National Economics University. He joined Vingroup in 2010. In 2018, he was appointed to the position of General Director of this group.
Vingroup was founded in 1993 in Ukraine under the name Technocom, specializing in instant noodle production. In the early 2000s, Technocom returned to Vietnam and focused on investing in tourism and real estate with major projects such as Royal City, Times City, and Vinpearl.
Recently, Vingroup has expanded its production and business sectors to industries such as automobile manufacturing, retail, healthcare, education, technology, and data.
In 2024, Vingroup achieved a record net revenue of VND192,159 billion (about USD7.5 billion), up from last year thanks to strong handovers at major real estate projects and strong growth in the electric vehicle segment.
Profit after tax in 2024 will reach VND5,251 billion, 2.5 times higher than the previous year. As of December 31, 2024, Vingroup's total assets reached VND828,216 billion, up 26% compared to the beginning of the year.
T&T Group
T&T Group was founded by Mr. Do Quang Hien (also known as Mr. Hien) in 1993. Its main business is distributing electrical products. T&T Group has quickly built a reputation and become the official and exclusive distributor in the North of the leading Japanese corporation Matsushita with brands such as Panasonic, National... and Mitsubishi Heavy Industries Corporation.
According to the information published by the company on its website, the group's charter capital is over 22,000 billion VND, total assets are 45,000 billion VND, 80,000 employees in the entire system, operating in domestic and international markets.
In particular, T&T Group has 500 affiliated member companies and joint ventures covering the fields of finance and investment, real estate, energy - environment, industry and trade, agriculture - forestry - fisheries, transport infrastructure, health - education - sports. Notable ones include Saigon - Hanoi Commercial Joint Stock Bank (SHB), Saigon - Hanoi Securities Company (SHS), Saigon - Hanoi Insurance Corporation (BSH), Vietnam Forestry Corporation (Vinafor)....
Mr. Hien's group is also known for many large-scale energy and real estate projects across the country. In 2020-2021, T&T Group put into operation and managed wind and solar power projects in Ninh Thuan and Binh Thuan.
At the same time, the Group has cooperated with major energy corporations in the world to invest in onshore and nearshore wind power projects, solar power in the provinces of Ninh Thuan, Dak Nong, Soc Trang, Ben Tre, Bac Lieu with a total estimated capacity of nearly 1,500 MW, total investment of about 2.5 billion USD.
The Group also started construction of the Hai Lang LNG Power Center (Quang Tri) with a capacity of 1,500 MW, with a total investment of nearly VND54,000 billion. In 2022, the Group will also start construction of high-end commercial center and hotel projects; ecological urban areas, tourism, resorts and golf courses in Dong Thap and Phu Tho provinces.
FPT Corporation
It is impossible not to mention Mr. Truong Gia Binh with the name of FPT Group - a pioneer enterprise in the fields of technology, telecommunications and education. This group has a history of 37 years of formation and development with total assets reaching more than 72,000 billion VND by the end of 2024. The enterprise has nearly 54,700 employees.
In 2024, FPT Corporation achieved revenue of VND 62,849 billion, up 19% over the previous year; profit after tax of more than VND 9,420 billion, up 21%. The achieved figures are all the highest ever and help FPT exceed the set plan.
In the structure, the technology sector contributes the most to FPT's business results, accounting for 62% of revenue and 47% of profit. The telecommunications sector contributes the second largest, followed by education, investment and other sectors.
FPT also increased the development of foreign IT services. In 2024, the group recorded many large orders from foreign markets, winning bids for 48 large projects with a scale of over 5 million USD, an increase of 50% over the same period last year.
Thaco Group
Truong Hai Group (Thaco) was established in 1997 in Dong Nai, founded by Mr. Tran Ba Duong, who is also Chairman of the Board of Directors.
From a business specializing in importing used cars and providing auto repair parts, Thaco has developed into a multi-industry group consisting of 6 member corporations: Thaco Auto (automobiles), Thaco Industries (mechanics and supporting industries), Thaco Agri (agriculture), Thadico (investment, construction), Thisco (trade and services), Thilogi (logistics).
Mr. Tran Ba Duong, Chairman of Thaco (Photo: VGP/Nhat Bac).
At the conference with the Prime Minister, Mr. Duong said that Thaco produces almost all types of cars, accounting for 32% of the market share. In 2024, the group sold 92,000 cars and set a target of 100,000 cars this year, focusing on hybrid cars - cars with both electric and gasoline engines.
According to the latest update, in 2023, Thaco achieved after-tax profit of VND 2,734 billion, down more than 63% compared to the previous year. Owner's equity is more than VND 52,400 billion.
Refrigeration Electrical Engineering (REE)
Refrigeration Electrical Engineering (REE) has been associated with the name of Ms. Nguyen Thi Mai Thanh for more than 3 decades. REE was established in 1977 as a state-owned enterprise. In 1993, the enterprise was transformed from a state-owned enterprise to a public company in the form of equitization. REE has been known for its air conditioning products under the Reetech brand since 1996.
By 2000, REE was the first listed company on the Vietnamese stock market. After that, the company entered the real estate sector with the construction of its first office building; participated in the energy sector, renewable energy...
Ms. Nguyen Thi Mai Thanh, General Director of Refrigeration Electrical Engineering Company (Photo: VGP/Nhat Bac).
Today, REE continues to focus on three main areas: Mechanical and electrical engineering; Commercial and office real estate; Renewable energy, clean water and environment.
In the energy sector, REE owns a series of large hydroelectric, thermal, wind, rooftop solar, and retail power plants such as Thac Ba Hydroelectric, Vinh Son - Song Hinh Hydroelectric, Thac Mo Hydroelectric, Pha Lai Thermal Power, Ninh Binh Thermal Power, Thuan Binh Wind Power...
In the clean water sector, REE invests in Tan Hiep Water Plant, Thu Duc Water Plant, Song Da Clean Water Plant, Gia Dinh Water Supply Plant...
In the real estate sector, the company develops a number of commercial housing projects and many office leasing projects in Ho Chi Minh City.
In 25 years of being listed on the stock exchange, from an enterprise with initial charter capital of 150 billion VND, REE has now reached more than 4,710 billion VND, 31 times higher. Asset size has also increased 140 times, reaching more than 35,361 billion VND.
In 2024, REE's revenue will be VND 8,384 billion; profit will decrease by 14%, reaching VND 2,397 billion and completing the set target.
TTC Group
The "billion dollar photo" also had the participation of 2 leaders of TTC Group's enterprises, including Ms. Huynh Bich Ngoc and Mr. Dang Thanh Ngu.
TTC Group was founded by the business couple Dang Van Thanh - Huynh Bich Ngoc, and has been around for nearly 5 decades, expanding its investment in many fields such as agriculture, energy, real estate, industrial real estate, tourism and education with more than 120 affiliated units in Vietnam, Laos, Cambodia, Singapore and Australia.
In agriculture, TTC has a core unit, Thanh Thanh Cong - Bien Hoa Company (TTC AgriS), which owns nearly 46% of the domestic sugar market share. This company has a raw material area of more than 71,000 hectares in 4 countries: Vietnam, Laos, Cambodia and Australia.
In the energy sector, TTC's main unit is Gia Lai Electricity Joint Stock Company (stock code: GEG). This company owns 23 hydropower, solar power and wind power plants with a total operating capacity of nearly 800 Mwp, providing 5.9 billion kWh of electricity to the national grid, reducing emissions of nearly 5.6 million tons of CO2 and supplying electricity to 2.6 million households.
In real estate, TTC Land owns a land fund of nearly 2,000 hectares, nearly 30 key projects in Ho Chi Minh City, Da Nang, Phu Quoc, Tay Ninh, Dong Nai, Long An. In addition, TTC also has Thanh Thanh Cong Industrial Real Estate Corporation which owns many industrial parks, clusters and warehouse and factory systems.
Up to now, TTC has Thanh Thanh Cong Industrial Park (Tay Ninh) with a master plan of 1,020 hectares, Tan Hoi 1 Industrial Cluster (Tay Ninh) with a scale of nearly 52 hectares, and Tan Kim Expanded Industrial Park (Long An) with a scale of 71 hectares.
Regarding tourism, TTC has Thanh Thanh Cong Tourism Joint Stock Company (TTC Hospitality), owning nearly 20 destinations in key tourist provinces and cities across the country.
Hoa Phat Group
Hoa Phat Group was established in 1992, initially as a company specializing in trading construction machinery. The company then expanded into other fields such as furniture, steel pipes, construction steel, refrigeration, real estate and agriculture.
Mr. Tran Dinh Long, Chairman of Hoa Phat Group (Photo: VGP/Nhat Bac).
Currently, Hoa Phat, chaired by Mr. Tran Dinh Long, operates in 5 areas: cast iron, steel products, agriculture, real estate, and household appliances. The Group also holds the No. 1 market share in Vietnam for construction steel, steel pipes, and is in the top 5 for galvanized steel.
By the end of 2024, Hoa Phat will have total assets of more than VND 224,000 billion with a charter capital of nearly VND 64,000 billion. The company achieved revenue of more than VND 138,855 billion, up 17% and after-tax profit of VND 12,020 billion, up 77%.
BRG Group
BRG Group was founded by Ms. Nguyen Thi Nga in 1993, starting with the import-export business. After nearly 3 decades, the company now focuses on real estate (hotels), retail, manufacturing and trade services, real estate, finance, and golf courses.
BRG Group's key projects include the North Hanoi Smart City and the Nhat Tan - Noi Bai planning. According to information from the company's website, the North Hanoi Smart City project has a total investment of 4.2 billion USD, covering nearly 300 hectares and divided into 5 phases. With 108 floors, this tower is expected to be the tallest in Southeast Asia with about 7,000 apartments.
About founder Nguyen Thi Nga, she was born in 1955, has a bachelor's degree in economics from the National Economics University. In addition to her leadership role at BRG, Ms. Nga has also been the Chairwoman of the Board of Directors of many joint stock commercial banks and is currently the Vice Chairwoman of the Board of Directors of Southeast Asia Commercial Joint Stock Bank.
Geleximco
Geleximco was established in 1993 under the name of Hanoi General Import-Export Company Limited. Initially, this enterprise specialized in import-export activities. Later, the group expanded into many other fields including industrial production, real estate infrastructure, banking and finance, and trade services.
The Group is building and operating a number of large factories such as An Hoa pulp factory (capacity of 130,000 tons/year), An Hoa Paper factory (capacity of 140,000 tons/year) in Tuyen Quang province; Thang Long thermal power plant, Thang Long cement factory in Quang Ninh and cement factory in Binh Phuoc, and Omoda & Jaecoo brand automobile assembly factory.
In the real estate sector, Geleximco is the investor of a number of large projects in Hanoi and the northern provinces such as Giao Luu City, Gelexia Riverside, Geleximco Le Trong Tan Urban Area, Cai Dam Urban Area. In 2019, the company became the developer of the resort real estate project Doi Rong International Tourist Area in Hai Phong City.
In the field of banking and finance, Geleximco is a strategic shareholder of An Binh Commercial Joint Stock Bank and An Binh Securities Joint Stock Company.
The financial report shows that Geleximco's after-tax profit in 2023 reached VND 73.7 billion. Owner's equity was VND 12,295 billion, total assets were VND 30,983 billion at the end of 2023.
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