Billionaire Pham Nhat Vuong shares things never made public before

Billionaire Pham Nhat Vuong made impressive statements at the 2025 General Meeting of Shareholders. Besides, he also revealed the new investment strategy of Vingroup Corporation.

Daily must report directly vehicles repaired for more than 8 hours

On the morning of April 24, Vingroup Corporation (VIC) held its 2025 Annual General Meeting of Shareholders with many notable points, especially the impressive statements of Chairman Pham Nhat Vuong and the group's new business pillars.

One of the notable points at the congress was the information that Vingroup is researching to open two more pillars for the group's activities. Those are infrastructure and energy. Regarding infrastructure, Vingroup is proposing to spend its own money to build the Phu My Hung - Can Gio, Hanoi - Quang Ninh railway lines. Vingroup also registered to research and develop seaports and energy, by 2030 developing about 25.5 GW of renewable energy and LNG. The target by 2035 is 52.5 GW.

Previously, in August 2018, Vingroup, chaired by billionaire Pham Nhat Vuong, announced its orientation to become a technology - industry - service corporation. The group's goal is to become an international technology - industry - service corporation by 2028, in which technology accounts for the main proportion. In the past few years, Vingroup has continuously restructured after releasing its strategy in August 2018.

Responding to the competitive advantage of VinFast electric car company compared to foreign manufacturers, Mr. Pham Nhat Vuong said that VinFast cars have 3 basic factors that need to be clearly understood. First of all, it is a good car. Second is a reasonable price and third is "extremely good after-sales service". Those are the 3 strengths and pillars for VinFast to be able to compete.

Regarding the cost and price of the car, billionaire Pham Nhat Vuong said that the group is constantly researching, improving, and reforming to reduce costs from components, car development to production and business costs. Therefore, VinFast is completely confident to compete on par with Chinese companies.

What is the outstanding strength? According to Mr. Vuong, it is the dedication to customer service. That is “extremely good after-sales service”. Accordingly, VinFast’s after-sales department must report directly to Mr. Vuong every day any vehicle that takes more than 8 hours to be repaired.

“Every day I receive a list of 5-7 cars that take more than 8 hours to repair, of course under standard conditions, not crashed or completely destroyed. That means after-sales issues are of primary concern. So I am confident that VinFast can not only compete but also develop well in the market.”

"The country will be"

Regarding Vingroup's recent divestment from VinBrain and VinAI amid the strong development of artificial intelligence (AI), billionaire Pham Nhat Vuong said that the transfer deals to NVIDIA and Qualcomm all come with a double condition: the requirement to continue investing heavily in Vietnam.

“That is the main reason. We want Vietnam to attract the world's leading technology corporations, thereby creating a foundation for domestic science and technology development. They must open research centers in Vietnam and recruit Vietnamese personnel. This will be a long-term training and business development environment,” Mr. Vuong shared, emphasizing: “Selling for a few hundred million USD is not what Vingroup cares about.”

Billionaire Pham Nhat Vuong at Vingroup's 2025 Annual General Meeting of Shareholders. Photo: VIC

The second reason, according to Mr. Pham Nhat Vuong, is that Vingroup does not create companies or assets to hold for the long term, but to promote development. When the businesses reach a certain level, the group is ready to transfer them to continue investing in dozens, hundreds of other companies.

“In parallel with the divestment, I have established a $150 million venture capital fund to invest in technology startups. Currently, the fund is in the process of promoting its operations. I am willing to invest in anyone who presents a good project and proves its future potential. The important thing is that the idea has real prospects,” Mr. Vuong shared.

He emphasized: “The corporation may benefit in part or not, it may even lose. But the country will benefit. I believe that even technology businesses should be allowed to go bankrupt a few times to grow up. It is a playground, a fighting arena - where those who do not succeed the first time can continue to rise and fight. The more opportunities to fail, the more solid the success later. Accept sacrifices from a young age to grow up sustainably.”

“In short, the first goal is to promote a large foundation for the country. The second is to create many startup opportunities for young people. Therefore, I decided: if any company is stable, has a good partner who wants to buy it and the deal brings mutual benefits, then I will sell it and not keep it for myself,” Mr. Pham Nhat Vuong shared.

“What Vingroup needs can still be guaranteed through a cooperation contract to develop products according to orders. At that time, not only Vingroup will benefit but other Vietnamese enterprises can also access and use it together. This is the strategy to develop an ecosystem of small and medium-sized enterprises in the field of science and technology for Vietnam,” Mr. Vuong shared things that he had never made public before.

At the congress, Vingroup continued to set the goal of sustainable growth, pioneering the construction of a green economy, contributing to promoting Vietnam's rise in the new era.

In 2025, Vingroup aims to achieve VND300,000 billion in revenue and VND10,000 billion in profit after tax, focusing on sustainable development through the "green transformation" campaign, maintaining its leading position in the market in its fields of operation, focusing on developing product quality, services, and customer experience.

In 2024, Vingroup recorded net revenue of VND 189,068 billion, an increase of 17.1% compared to 2023. Profit after tax reached VND 5,276 billion, an increase of 156.6%. Total assets by the end of 2024 reached VND 839,216 billion, an increase of VND 172,000 billion compared to the same period last year.

Source: https://vietnamnet.vn/ty-phu-pham-nhat-vuong-chia-se-nhung-dieu-truoc-nay-chua-tung-cong-khai-2394612.html