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

Morning of April 24, Vingroup Corporation (VIC) held its 2025 annual meeting, a rare occasion for shareholders to meet directly 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 power shortage, so we will make electricity.

The focus this year at Vingroup's congress is the ambitious target of consolidated net revenue of VND300,000 billion and after-tax profit of about VND10,000 billion, up 60% and 90% respectively compared to last year.

Mr. Vuong admitted that the 2025 plan is very ambitious. "I am not sure whether we can achieve it or not. But we will definitely try our best to not only achieve it but also exceed it," Mr. Vuong said.

The billionaire pointed out many bases for this big goal. First, the real estate market is clearly recovering, revenue from this sector is expected to skyrocket. Meanwhile, VinFast's sales are growing.

The solution to achieve the above plan, according to Mr. Vuong, is to "work day and night, creatively and decisively". That is Vingroup's difference, an unusual effort.

In addition to real estate and electric vehicles, Vingroup’s chairman said the group is expanding many other pillars, including highway investment, and will soon register to develop seaports.

Regarding the renewable energy sector, Mr. Vuong revealed the reason for investing in this sector. "Many people say electric cars are not green. So we will make green electricity to make it green from start to finish. Many people are worried about the lack of electricity, so we will make electricity so that we don't have to worry about the lack and can still be comfortable," 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 is the General Secretary and senior leaders calling on businesses to do big projects to build the country. Vingroup is a big business that needs to be responsible, has done and will do big things.

A shareholder asked, so in the future, which areas will Vingroup work on, and which areas will the chairman invest in? Mr. Vuong frankly said: The group will invest in what is good, and I will invest in what is bad.

Long-term investment in VIC, shareholders will receive expected value

An individual shareholder said many people are interested in and choose VIC shares as a long-term asset accumulation channel, just like the previous generation chose gold to keep assets.

"We often choose to buy VIC when the price drops deeply to accumulate. Is this the right way of thinking? What strategy does Vingroup have in the future to increase the long-term trust of small shareholders?", this shareholder asked.

Mr. Vuong gave an interesting answer: If shareholders asked whether to choose VIC or gold, then choosing VIC was the right choice. With the efforts of such a large group, we have gradually created value and been recognized.

Vingroup’s chairman said there will be ups and downs when investing in the group’s stocks. But he believes loyal, long-term shareholders will get the benefits they want.

Also at the congress, Mr. Vuong informed that he had been carrying out the procedures to list Vinpearl since last year. It is expected to be completed in April and Vinpearl will be listed in May, and all business activities are profitable.

Vinfast confident to compete on par with Chinese car manufacturers

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

The billionaire affirmed that this is the highest market share that any car company has ever achieved in Vietnam. If this market share is achieved, VinFast will also break even in the Vietnamese market.

Regarding Vinfast's competitive advantages, especially compared to Chinese car manufacturers, Mr. Vuong said: VinFast cars have 3 basic factors: good cars - reasonable prices - good after-sales service, these are the 3 pillars to compete. Car prices are also constantly being reformed to reduce and confidently compete on par with Chinese car manufacturers.

We compete fairly, our outstanding strength is dedicated customer service. Many companies ignore this, for example, Tesla in the US has a very long wait for repairs, sometimes taking months, while we aim to repair cars in 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