Mr. Pham Nhat Vuong: The group makes whatever is good, I invest in the bones.

Mr. Pham Nhat Vuong answers shareholders at the meeting - Photo: LN

On the morning of April 24th, Vingroup Corporation (VIC) is holding its 2025 annual general meeting, a rare opportunity for shareholders to meet in person with Vietnam's richest billionaire.

The discussion session lasted nearly an hour. Mr. Pham Nhat Vuong - Chairman of Vingroup, was the one who answered most of the questions from shareholders.

Mr. Pham Nhat Vuong: Many people are worried about electricity shortages, so we will build electricity grids.

The highlight of this year's Vingroup general meeting is the ambitious goal of achieving consolidated net revenue of VND 300,000 billion and after-tax profit of approximately VND 10,000 billion, representing increases of 60% and 90% respectively compared to last year's performance.

Mr. Vuong admitted that the 2025 plan is very ambitious. "Whether we will achieve it or not, I'm not sure. But we will certainly try our best to not only achieve it but also surpass it," Mr. Vuong said.

The billionaire pointed out several reasons for this ambitious goal. Firstly, the real estate market is clearly recovering, and revenue from this sector is expected to skyrocket. Meanwhile, VinFast's sales are growing steadily.

According to Mr. Vuong, the only way to achieve the above plan is to "work day and night, be creative and decisive." That is what sets Vingroup apart, its extraordinary effort.

Besides real estate and electric vehicles, the chairman of Vingroup said the group is expanding into many other pillars. These include investing in expressways, and will soon register to develop a seaport.

Regarding renewable energy, Mr. Vuong revealed the reason for investing in this sector. "Many people say electric vehicles are not green. So we will develop green electricity to make it green from start to finish. Many people worry about electricity shortages, so we will develop electricity so that there is no shortage and people can have plenty," Mr. Vuong shared.

Still maintaining his familiar, straightforward and decisive style, Mr. Vuong said the most important reason why Vingroup participates in many new fields.

It was the General Secretary and other high-ranking leaders who called on businesses to undertake large-scale projects to build the country. Vingroup, as a large enterprise, needs to be responsible; it has done and will continue to do large-scale projects.

A shareholder asked, "So, which areas will Vingroup focus on in the future, and which will the chairman invest in?" Mr. Vuong frankly replied, "The group will invest in what's profitable, and I'll invest in what's challenging."

By investing in VIC for the long term, shareholders will receive the expected value.

One individual shareholder stated that many people are interested in and choose VIC shares as a long-term asset accumulation channel, similar to how previous generations chose gold to preserve their wealth.

"We often choose to buy VIC whenever the price drops sharply in order to accumulate shares. Is this a sound strategy? What strategies does Vingroup have in the future to increase the long-term confidence of minority shareholders?", this shareholder asked.

In a very interesting response, Mr. Vuong said: "When shareholders asked whether to choose VIC or gold, choosing VIC was the right decision. With the efforts of such a large team, we are gradually creating value and gaining recognition."

The chairman of Vingroup said there will be times when investing in the group's shares, like being on a ship, and there will be storms. But he believes that loyal, long-term shareholders will reap the benefits they desire.

Also at the general meeting, Mr. Vuong informed that the procedures for listing Vinpearl had been underway since last year. It is expected to be completed in April, and Vinpearl will be listed in May; all business operations are currently profitable.

Vinfast is confident it can compete on equal footing with Chinese car manufacturers.

Mr. Pham Nhat Vuong shared with shareholders VinFast's plan to sell more than 200,000 vehicles this year in the Vietnamese market, accounting for approximately 40% of the market share.

The billionaire asserted that this is the highest market share ever achieved by a car manufacturer in Vietnam. If VinFast reaches this market share, it will also reach its break-even point in the Vietnamese market.

Regarding Vinfast's competitive advantages, especially compared to Chinese car manufacturers, Mr. Vuong stated: VinFast cars have three basic elements: good quality, reasonable price, and good after-sales service. These are the three pillars for competitiveness. The car prices are also continuously being reformed to reduce them, allowing the company to confidently compete on equal footing with Chinese car manufacturers.

We compete fairly, and our outstanding strength lies in our dedication to customer service. Many companies overlook this; for example, Tesla in the US has very long waiting times for car repairs, sometimes taking months, while we aim for car repairs to take no more than 8 hours under standard conditions.

Source: https://tuoitre.vn/ong-pham-nhat-vuong-cai-gi-ngon-tap-doan-lam-xuong-thi-toi-dau-tu-20250424111647667.htm