VinFast’s Success Leads the Way for Vietnamese Businesses to Conquer the Global Market

VinFast's listing on the US stock exchange not only provides an opportunity for the company, but also inspires a strong sense of empowerment among young Vietnamese entrepreneurs. It affirms that dreams and ambitious visions are not bound by geographical limitations.

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The ambition of conquering the world of Vietnamese businesses.

In recent years, Vietnam has gradually demonstrated its position and capabilities in the business and cultural promotion to international friends. This is evidenced by many Vietnamese businesses “reaching out to the sea” and standing shoulder to shoulder with the “giants” in the world.

VinFast officially listing on the US stock exchange has created a historic turning point not only for VinFast but also brought about a great influence on Vietnamese businesses and young people who intend to enter the international market.

In addition to VinFast’s success on the world’s largest stock exchange, Cong Cafe – a Vietnamese coffee chain has also expanded its network from Japan to the US. The combination of delicious coffee flavors and unique cafe design has attracted the attention of international customers, creating an integral part of the world coffee culture.

Image of nearly 1000 VinFast VF8 electric cars exported to the US. Photo: VinFast.

Not only coffee, Vietnamese cuisine has also truly conquered the world through Pho Story. Vietnam’s traditional pho dish has been exported by Pho Story to many countries, especially in major cities such as Paris and New York. This helps promote the value of Vietnamese cuisine worldwide, opening up international business opportunities for the founder.

In addition, ST25 rice has also attracted the attention of top chefs and restaurants around the world. Exporting the rice dubbed as the best in the world not only brings income to Vietnamese farmers but also contributes to promoting the country’s agriculture and creating significant international business opportunities.

According to some economic experts, successful Vietnamese brands such as VinFast, Pho Story, and ST25 Rice have demonstrated that Vietnam is not only a country with great production and business potential but also capable of producing high-quality products and services that can compete in the international market.

VinFast IPO: The inspiration to dare to dream, dare to act

VinFast has gone through a 6-year journey full of challenges from a coastal land in Hai Phong to a grand factory completed after 21 months of construction, setting a record in the global automobile industry.

From the first electric cars named VinFast VF e34 equipped with many outstanding features that gained the trust of customers to the shipment of thousands of cars exported to the US, the factory producing electric cars right in North Carolina, and now the listing on the US stock exchange.

VinFast VF e34 is the first electric car produced in Vietnam. Photo: VinFast.

Accordingly, VinFast rang the bell for its debut on the Nasdaq Global Select Market, becoming a publicly listed company on the US stock exchange.

VFS stocks opened their first trading session on Nasdaq at $22 with an estimated circulation of 2.3 billion shares, resulting in a market capitalization of approximately $50 billion for the electric car manufacturer. At that time, VinFast became the largest-valued Vietnamese brand listed on the US stock market to date.

Moreover, after the listing, VinFast’s stocks were priced higher than major car brands such as Ford and General Motors, creating a big stir and demonstrating the rapid progress of this brand.

The stock listing deal of VinFast at Wall Street is not only an important milestone for this company but also a symbolic event for the entire Vietnamese financial market. It is also an inspirational event that helps many young people and businesses dare to dream and dare to pursue their dreams.

VinFast’s Image appears on Wall Street.

Sharing at the IPO event, Ms. Le Thi Thu Thuy, Global CEO of VinFast, showed the vision and mission of VinFast. Ms. Thu Thuy hopes that VinFast’s story “ringing the bell” in the United States will inspire other Vietnamese brands. This not only expands the exporting market and international competition but also leaves a mark on the world map in the automobile industry.

Representatives of some Vietnamese businesses believe that VinFast has dared to dream and dared to shine, inspiring many people in the Vietnamese business community. The confident step of this brand into the international market is a major breakthrough, demonstrating that Vietnamese businesses have the ability to compete globally.

Recently, VinFast has received “sweet fruit” when it excellently won the “Event of the Year” award at the WeChoice Awards 2023 with the turning point of “VinFast officially listing on the US stock exchange” with 61,221 overwhelmingly voted ballots.

It can be said that VinFast has shown vision, dared to think big, opening up new directions for the future of the Vietnamese economy. VinFast’s success story is clear evidence of the progress and confidence of Vietnamese businesses in the race for global economic integration.

SOURCEcafef
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