Positioning Vietnamese brands on the world map

After nearly two decades, for the first time, a Vietnamese enterprise was listed on the Nasdaq (USA). This event not only paved the way for the Vietnamese business community’s aspirations to go global , but also made Vietnam’s name continuously mentioned at prestigious forums around the world.

VinFast 's listing on Nasdaq paves the way for Vietnamese businesses to go global

VF

The world's largest financial market is called VN.

The name VinFast - a Vietnamese electric car brand - has been mentioned continuously since the night of August 15, 2023 (Vietnam time) when the bell officially rang for the first trading session of shares with the code VFS on the Nasdaq stock exchange in the US. Immediately after its market debut in the US, Google Trend statistics showed that the keyword "VinFast" skyrocketed in the search section, most in the two regions of North Carolina and California. These are the two locations of the $4 billion factory and VinFast's headquarters in the US, respectively. In the country, the keywords "VIC" (stock code of Vingroup - VinFast's parent company), or "Nasdaq" are both in the top searches, with the highest number reaching 20,000 searches. Not only are the media and Vietnamese people interested in following this event, but foreign news agencies and television stations are also constantly talking about VFS shares . The trading sessions within a week after listing were even more notable when VFS shares continued to increase sharply and even reached over 90 USD, an increase of more than 9 times compared to the 10 USD price in the previous merger agreement with Back Spade. A series of economic magazines and international news sites have published many articles analyzing VinFast and explaining the story of VFS shares. The leading economic column "First Move with Julia Chatterley" of the US CNN Television, broadcast live at the New York Stock Exchange (NYSE), had a conversation with Ms. Le Thi Thu Thuy, CEO of VinFast, in a live program at the NYSE. The host, journalist Julia Chatterley, who has talked with many famous leaders from brands such as Mr. Reid Hoffman, co-founder of the social network Linkedln; Mr. Tim Clark, Chairman of Emirates Airlines; Mr. Chuck Robbins, Chairman of Cisco..., opened the interview with the introduction "VinFast - one of the newest "players" in the electric car market". The attention of major media agencies is not only an effect for the VinFast brand but also the name Vietnam is mentioned more often. Ms. Le Thi Thu Thuy, General Director of VinFast, said that becoming a listed company in the US is an important milestone in the company's global development journey. This is not simply a transaction on the stock market but also a recognition of strong belief in the company's vision and potential, as well as a commitment to making smart, safe and environmentally friendly electric vehicles more accessible to everyone. According to VinFast's leadership, listing on the US stock market also aims to prove that it is on par with global businesses. In addition, listing on the US stock exchange can help businesses access abundant capital for the next stage of growth in the context of the electric car industry is still in its infancy and developing. Less than 10 days after VinFast's milestone, VNG Corporation - considered the first technology unicorn in Vietnam - also announced that it had officially submitted its registration dossier under the F-1 form to the US Securities and Exchange Commission (SEC). Accordingly, the largest shareholder, VNG Limited, is expected to make an initial public offering (IPO) of Class A common shares on the Nasdaq stock exchange with the trading code VNG. Underwriters for this IPO include Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and BofA Securities, Inc. The successful listing of VinFast and the following of VNG have officially realized the dream of listing on the world's largest capital market that many Vietnamese businesses mentioned nearly 20 years ago for many different reasons but have not been able to succeed.

Paving the way for Vietnamese businesses to go global

With VinFast's listing on Nasdaq, many domestic and foreign economic experts believe that this is a proud success not only for the enterprise but also for Vietnam. Because Nasdaq is a market with very high listing standards, not easy to enter. That proves that the capacity of Vietnamese enterprises has completely met the requirements of international stock exchanges. As an expert in the field of agriculture, Professor Vo Tong Xuan also exclaimed "very proud and honored" when mentioning the fact that Vietnamese brands have listed on the US stock exchange. According to him, these enterprises are on the right track. That is, participating in the field of electric car production with green, clean and safe technology, which is a trend of interest in the world. This will be quickly accepted by users everywhere. Compared to car companies with a history of development of nearly 100 years, VinFast's story is considered "lightning fast". Vietnamese enterprises have bravely and boldly invested in the high-tech field, which is not Vietnam's strength. Professor Vo Tong Xuan analyzed: Even in terms of rice, which is considered our strength with the starting point of being an agricultural country, the father of the ST25 rice variety also took nearly 20 years to crossbreed to produce the best ST25 rice, bringing the name of Vietnamese rice far into the world market and surpassing competitors in this field. This example shows that investing in invention and technology in any industry is never easy, but this is a mandatory path because only then can we compete. From there, we can build the brand of the enterprise in particular and the national brand in general. Vietnam really needs more large enterprises that dare to invest and are steadfast in their goals like Vingroup . Moreover, the stories of the above enterprises have affirmed the development of the Vietnamese economy through many periods and the gradual integration with the world in many fields, from agriculture to textile and footwear products, electronics and now high-end products. That also shows that Vietnamese enterprises can realize their dreams if they are determined and steadfast. Agreeing, economic expert - lawyer Truong Thanh Duc said that the story of VinFast or the upcoming VNG shows that Vietnamese enterprises have proven that they are truly integrating with the world, not just talking about it. In particular, they all operate in very difficult and fiercely competitive fields such as electric cars or the gaming and digital technology industry, which are the development trends of the world. That also reflects the change in Vietnam's viewpoint and policies. In the past, we were hesitant, even a bit disdainful, with games, but now there are policies to encourage their development. This is an important step to create large enterprises like VNG with high competitiveness, bringing products to the world to create more revenue for the company in particular and Vietnam in general. At the same time, that first story also inspires and paves the way for domestic enterprises to be more bold in the process of integration and reaching out to the world.

Promote innovation, invest in technology

Not only is it a brand, the above story also shows the development process of domestic companies in particular and the economic development process of Vietnam in general. More importantly, according to Associate Professor, Dr. Vo Tri Hao - Vietnam International Arbitration Center (VIAC), this is a signal of adjusting the investment focus, shifting from real estate to technology. Adjusting the investment focus and adjusting capital flows can only take place after the Government adjusts its policies. That is to encourage industrial development, helping businesses to be more courageous. "The people are rich and the country is strong. If there are no national capitalists to stand shoulder to shoulder with foreign capital, who will be the partners, what will be the counterpart? If the private economic sector is weak, what will be the basis for pursuing the model of "thin state, fat society". I always enthusiastically support this", Associate Professor, Dr. Vo Tri Hao said.

VinFast automobile factory

CTV

In fact, the number of domestic enterprises with brands that the world knows is still small. To further promote it requires the efforts, determination and determination of the enterprises themselves. But most importantly, experts all believe that there must be policies to encourage and support from the state. According to lawyer Truong Thanh Duc, the story of VinFast's shares in the early days of listing on the Nasdaq increased or decreased, attracting great attention from domestic and foreign media, which is also attractive for the enterprise's brand and the common name of Vietnam. We hope that there will be dozens, hundreds of more enterprises that are strong enough and qualified to list on regional or international stock exchanges. The more powerful the company, the better because it shows "class", positioning Vietnam's brand in the world to a new level. First of all, the enterprises themselves must be bold, accept risks, invest and be decisive to realize that aspiration. For example, VinFast is just a young enterprise in the automobile market and only determination and boldness can meet the standards of this field as well as the world's financial "brain". Therefore, Vietnamese people as well as state policies need to encourage companies, at the same time encourage and create conditions for the spirit of creativity and entrepreneurship as has been done and needs to continue to support more strongly. "In my opinion, billionaires are also national brands. In the past, when Vietnam did not have any USD billionaires named in the world rankings, we had nothing to say. Now, if there are more billionaire businessmen, Vietnam's name will be mentioned more. That is also something to be proud of and I hope Vietnam will have more billionaires, more large enterprises to start ringing the bell on major financial floors in the region and the world", lawyer Truong Thanh Duc shared more.

Vietnam's national brand will have higher value

Only businesses that develop themselves and create quality products can meet the standards of large markets like the US. We see that today, standards requiring green development, clean production, etc. have been implemented in many industries. If you only do processing, no one will care about you. We talk a lot about integration, but there must be concrete actions. The first thing that Vietnamese businesses have done is to list on the world's leading financial exchanges, which is concrete evidence that they have met a series of world regulations and criteria. Through that, Vietnam's national brand will have a higher value on the rankings, and be positioned on the world map. Lawyer Truong Thanh Duc

Strong affirmation for Vietnam's auto industry

VinFast - a member of Vingroup, the largest private corporation in Vietnam - is a leading electric vehicle manufacturer with a mission to create a green future for everyone. VinFast believes that a sustainable future can only be achieved when smart, safe and environmentally friendly electric vehicles are accessible to everyone. Through global partnerships with trusted suppliers and organizations as well as unprecedented investments in research and development (R&D), VinFast is poised to lead the global electric vehicle revolution. They have brilliantly combined beautiful design, advanced technology and state-of-the-art manufacturing processes to create Vietnam's first global automobile manufacturer. Vingroup has been changing the way Vietnamese people live for the past 30 years, and now VinFast is taking that mission to the world, their mission is ambitious but simple: creating a sustainable future for everyone. VinFast is operating a state-of-the-art automobile manufacturing complex in Hai Phong, with up to 90% automation in production processes and a capacity of up to 300,000 units per year. I am truly proud to have been to Hai Phong during my visit to Vietnam last year and witnessed it with my own eyes. Today's listing ceremony on Nasdaq is a strong affirmation of the hard work and dedication of every VinFast member, for their passion for leading the way, pioneering and innovating. It is the people and culture of VinFast that have a strong imprint of the entrepreneurial spirit in the automotive industry. Mr. Bob McCooey, Vice President and Head of Global Capital Markets of Nasdaq

Great success for businesses in particular and Vietnam in general

VinFast's listing and selection into the Nasdaq Global Select Market Composite index demonstrates the capacity of the enterprise and its consulting team. This is a great success, a source of pride for Vingroup in particular and Vietnam in general. It also opens the way for other Vietnamese enterprises in their aspirations to reach out globally and access the international capital market. VinFast itself is a known brand, contributing to bringing Vietnam's reputation to the world. The most important thing is to continuously develop products with the best quality, welcomed and used by customers everywhere. Thereby affirming VinFast's position in the long term. From this mark, Vietnam will receive more attention and interest from the international community. To continue to promote the Vietnamese enterprise brand in particular and the national brand to reach higher positions globally, the State needs to continue to support enterprises and corporations to promote research and development, innovation, and master technology so that "Make in Vietnam" becomes a reality. In addition, promoting the attraction of more foreign investment capital into Vietnam will also be positive but still need time. Vietnam still has to make efforts and cooperate systematically, because partners will have to assess the stability of the economic, political and social environment. Professor Nguyen Duc Khuong - Chairman of AVSE Global (Global Organization of Vietnamese Scientists and Experts)

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