Vingroup: A Multi-Sector Vision for Innovation and Sustainable Growth
Founded in 1993 in Ukraine, Vingroup now has a multi-billion-dollar valuation and operates more than a dozen subsidiaries across key industries. From real estate developments like Vinhomes, which operates 30 urban complexes across Vietnam, to cutting-edge tech ventures, the Group has continually reimagined what a modern Vietnamese corporation can achieve. Today, it stands as a beacon for emerging markets looking to balance rapid economic growth with environmental stewardship and technological leadership.
Among its most remarkable ventures, VinFast has captured global attention as Vietnam's first major car company, as well as its first major electric vehicle (EV) manufacturer. From its cutting-edge manufacturing facilities in Hai Phong to its design and engineering collaborations spanning Europe, including partnerships with Siemens and Pininfarina, VinFast is a compelling example of Vingroup's philosophy in action: building high-tech, world-class products that accelerate the transition to a greener future.
VinFast's recent expansion into the UAE underscores this commitment to sustainability and innovation. As the country intensifies its efforts to diversify its economy and invest in renewable energy and electric transportation, VinFast's arrival resonates with the UAE's own vision for sustainable development. VinFast has collaborated with Al Tayer Motors, a leading UAE automotive group with over 40 years of experience. For consumers and businesses in the Emirates, the brand offers an opportunity to embrace clean mobility solutions without compromising on performance or sophistication.
More broadly, Vingroup's approach demonstrates how a multi-sector strategy can create lasting impact. For customers, this means a seamless experience across daily needs, from Vinhomes smart residential communities and Vinschool's bilingual
education to Vinmec's accredited healthcare and VinFast's electric vehicles. These are part of a unified ecosystem supported by consistently enforced quality standards, ensuring reliable service. This integrated model not only improves quality of life but also strengthens Vingroup's capacity to address broader challenges such as sustainable living, accessible healthcare, and clean mobility. By leveraging expertise across sectors, the Group is well positioned to meet society's evolving needs while cultivating a culture of continuous improvement and forward thinking.
As VinFast gains traction in the UAE and beyond, it becomes a symbol of Vingroup's larger mission: to pioneer not only products, but also ideas that redefine what is possible when innovation and sustainability are woven into the fabric of an enterprise.
In doing so, Vingroup has become more than a corporate success story. In fact, it has become an example of how purposeful ambition can shape a more resilient, technologically advanced, and environmentally responsible future.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
4 days ago
- Gulf Today
Vietnam aims to become the next Asian tiger economy
Beneath red banners and a gold bust of revolutionary leader Ho Chi Minh in Hanoi's central party school, Communist Party chief To Lam declared the arrival of "a new era of development" late last year. The speech was more than symbolic- it signaled the launch of what could be Vietnam's most ambitious economic overhaul in decades. Vietnam aims to get rich by 2045 and become Asia's next "tiger economy" — a term used to describe the earlier ascent of countries like South Korea and Taiwan. The challenge ahead is steep: Reconciling growth with overdue reforms, an aging population, climate risks and creaking institutions. There's added pressure from President Donald Trump over Vietnam's trade surplus with the US, a reflection of its astounding economic trajectory. In 1990, the average Vietnamese could afford about $1,200 worth of goods and services a year, adjusted for local prices. Today, that figure has risen by more than 13 times to $16,385. Vietnam's transformation into a global manufacturing hub with shiny new highways, high-rise skylines and a booming middle class has lifted millions of its people from poverty, similar to China. But its low-cost, export-led boom is slowing, while the proposed reforms — expanding private industries, strengthening social protections, and investing in tech, green energy. It faces a growing obstacle in climate change. "It's all hands on can't waste time anymore," said Mimi Vu of the consultancy Raise Partners. Investment has soared, driven partly by US-China trade tensions, and the US is now Vietnam's biggest export market. Once-quiet suburbs have been replaced with industrial parks where trucks rumble through sprawling logistics hubs that serve global brands. Vietnam ran a $123.5 billion trade surplus with the US trade in 2024, angering Trump, who threatened a 46% US import tax on Vietnamese goods. The two sides appear to have settled on a 20% levy, and twice that for goods suspected of being transshipped, or routed through Vietnam to avoid US trade restrictions. During negotiations with the Trump administration, Vietnam's focus was on its tariffs compared to those of its neighbors and competitors, said Daniel Kritenbrink, a former US ambassador to Vietnam. "As long as they're in the same zone, in the same ballpark, I think Vietnam can live with that outcome," he said. But he added questions remain over how much Chinese content in those exports might be too much and how such goods will be taxed. Vietnam was preparing to shift its economic policies even before Trump's tariffs threatened its model of churning out low-cost exports for the world, aware of what economists call the "middle-income trap," when economies tend to plateau without major reforms. To move beyond that, South Korea bet on electronics, Taiwan on semiconductors, and Singapore on finance, said Richard McClellan, founder of the consultancy RMAC Advisory. But Vietnam's economy today is more diverse and complex than those countries were at the time and it can't rely on just one winning sector to drive long-term growth and stay competitive as wages rise and cheap labor is no longer its main advantage. It needs to make "multiple big bets," McClellan said. Following China's lead, Vietnam is counting on high-tech sectors like computer chips, artificial intelligence and renewable energy, providing strategic tax breaks and research support in cities like Hanoi, Ho Chi Minh City, and Danang. It's also investing heavily in infrastructure, including civilian nuclear plants and a $67 billion North-South high-speed railway, that will cut travel time from Hanoi to Ho Chi Minh City to eight hours. Vietnam also aspires to become a global financial center. The government plans two special financial centers, in bustling Ho Chi Minh City and in the seaside resort city of Danang, with simplified rules to attract foreign investors, tax breaks, support for financial tech startups, and easier ways to settle business disputes. Underpinning all of this is institutional reform. Ministries are being merged, low-level bureaucracies have been eliminated and Vietnam's 63 provinces will be consolidated into 34 to build regional centers with deeper talent pools. Vietnam is counting on private businesses to lead its new economic push — a seismic shift from the past. In May, the Communist Party passed Resolution 68. It calls private businesses the "most important force" in the economy, pledging to break away from domination by state-owned and foreign companies. So far, large multinationals have powered Vietnam's exports, using imported materials and parts and low cost local labor. Local companies are stuck at the low-end of supply chains, struggling to access loans and markets that favored the 700-odd state-owned giants, from colonial-era beer factories with arched windows to unfashionable state-run shops that few customers bother to enter. "The private sector remains heavily constrained," said Nguyen Khac Giang of Singapore's ISEAS-Yusof Ishak Institute. Again emulating China, Vietnam wants "national champions" to drive innovation and compete globally, not by picking winners, but by letting markets decide. The policy includes easier loans for companies investing in new technology, priority in government contracts for those meeting innovation goals, and help for firms looking to expand overseas. Even mega-projects like the North-South High-Speed Rail, once reserved for state-run giants, are now open to private bidding. By 2030, Vietnam hopes to elevate at least 20 private firms to a global scale. But Giang warned that there will be pushback from conservatives in the Communist Party and from those who benefit from state-owned firms. Even as political resistance threatens to stall reforms, climate threats require urgent action. After losing a major investor over flood risks, Bruno Jaspaert knew something had to change. His firm, DEEP C Industrial Zones, houses more than 150 factories across northern Vietnam. So it hired a consultancy to redesign flood resilience plans. Climate risk is becoming its own kind of market regulation, forcing businesses to plan better, build smarter, and adapt faster. "If the whole world will decide it's a can go very fast," said Jaspaert. When Typhoon Yagi hit last year, causing $1.6 billion in damage, knocking 0.15% off Vietnam's GDP and battering factories that produce nearly half the country's economic output, roads in DEEP C industrial parks stayed dry. Climate risks are no longer theoretical: If Vietnam doesn't take strong action to adapt to and reduce climate change, the country could lose 12-14.5% of its GDP each year by 2050, and up to one million people could fall into extreme poverty by 2030, according to the World Bank. Meanwhile, Vietnam is growing old before it gets rich. The country's "golden population" window — when working-age people outnumber dependents — will close by 2039 and the labor force is projected to peak just three years later. That could shrink productivity and strain social services, especially since families — and women in particular — are the default caregivers, said Teerawichitchainan Bussarawan of the Centre for Family and Population Research at the National University of Singapore. Vietnam is racing to pre-empt the fallout by expanding access to preventive healthcare so older adults remain healthier and more independent. Gradually raising the retirement age and drawing more women into the formal workforce would help offset labor gaps and promote "healthy aging," Bussarawan said. Associated Press
Dubai Eye
6 days ago
- Dubai Eye
Fistful of dollars for Vietnamese farmers displaced for Trump golf club
News Home More from International Reuters Vietnamese farmers face threat of being displaced and jobless as US President Donald Trump's family-backed golf resort is scheduled for construction next month in Hung Yen province. Thousands of villagers are being offered compensation packages worth $3,200 and rice provisions to vacate the land, their home and only source of livelihood, according to six people with direct knowledge and documents seen by Reuters. The project is the first partnership for the family business of Trump in Vietnam, which fast-tracked approvals as it negotiated a crucial trade deal with Washington. Developers have cut compensation forecasts from an initial estimate exceeding $500 million, said one person familiar with the plans, not disclosing reasons for the reduction. The 990-hectare site designated for the golf course currently supports fruit farms growing bananas, longan and other crops. While some see opportunity, many farmers are elderly and fear they won't find an alternative means of survival. Vietnamese real estate company Kinhbac City and its partners will develop the luxury golf club after paying the Trump Organisation $5 million for brand licensing rights, according to regulatory filings and a source familiar with the deal. Vietnam's argiculture ministry, Hung Yen authorities, the Trump Organisation and Kinhbac City did not reply to questions on compensation rates. Vietnam's Prime Minister Pham Minh Chinh said farmers would be reimbursed fairly when he spoke in May at the groundbreaking ceremony for the golf project. Conversely, lawyers and investors in the province said the golf club would create better jobs and enrich villagers. Israel strike kills Al Jazeera journalists in Gaza A prominent Al Jazeera journalist, who had previously been threatened by Israel, was killed along with four colleagues in an Israeli airstrike on Sunday, in an attack condemned by journalists and rights groups. Israel strike kills Al Jazeera journalists in Gaza Australia to recognise Palestinian state at UN in September Australia will recognise a Palestinian state at next month's United Nations General Assembly, Prime Minister Anthony Albanese said on Monday, a move that adds to international pressure on Israel after similar announcements from France, Britain and Canada. Australia to recognise Palestinian state at UN in September India's top court orders Delhi authorities to move stray dogs to shelters India's top court ordered authorities in the capital Delhi and its suburbs on Monday to relocate all stray dogs to shelters within eight weeks, according to the Live Law website, after media reports of a rise in cases of rabies, especially among children. India's top court orders Delhi authorities to move stray dogs to shelters Arab League condemns Israeli plan to impose control over Gaza The Council of the Arab League has condemned the Israeli government's plans to impose military control over the Gaza Strip and displace its population, stating it constitutes a violation of international law and a threat to Arab and regional security. Arab League condemns Israeli plan to impose control over Gaza Firefighters battle 'fire whirls' in northern Spain Extreme heat and strong winds caused "fire whirls" as a blaze burned several houses and forced the evacuation of hundreds of people from near a UNESCO-listed national park in northern Spain, authorities said on Monday.
ARN News Center
6 days ago
- ARN News Center
Fistful of dollars for Vietnamese farmers displaced for Trump golf club
Vietnamese farmers face threat of being displaced and jobless as US President Donald Trump's family-backed golf resort is scheduled for construction next month in Hung Yen province. Thousands of villagers are being offered compensation packages worth $3,200 and rice provisions to vacate the land, their home and only source of livelihood, according to six people with direct knowledge and documents seen by Reuters. The project is the first partnership for the family business of Trump in Vietnam, which fast-tracked approvals as it negotiated a crucial trade deal with Washington. Developers have cut compensation forecasts from an initial estimate exceeding $500 million, said one person familiar with the plans, not disclosing reasons for the reduction. The 990-hectare site designated for the golf course currently supports fruit farms growing bananas, longan and other crops. While some see opportunity, many farmers are elderly and fear they won't find an alternative means of survival. Vietnamese real estate company Kinhbac City and its partners will develop the luxury golf club after paying the Trump Organisation $5 million for brand licensing rights, according to regulatory filings and a source familiar with the deal. Vietnam's argiculture ministry, Hung Yen authorities, the Trump Organisation and Kinhbac City did not reply to questions on compensation rates. Vietnam's Prime Minister Pham Minh Chinh said farmers would be reimbursed fairly when he spoke in May at the groundbreaking ceremony for the golf project. Conversely, lawyers and investors in the province said the golf club would create better jobs and enrich villagers.
