Introducing Phạm Nhật Vượng’s second son, who has been making waves in the business world.
Mr. Phạm Nhật Minh Hoàng (born in 2000), the second son of billionaire Phạm Nhật Vượng, has been garnering attention for his recent appointments in strategic Vingroup corporations.
Most recently, on November 26th, Mr. Phạm Nhật Minh Hoàng welcomed the President of Bulgaria, Rumen Radev, and a high-level Bulgarian delegation to the VinFast Complex in Hai Phong for a visit and working session.
During this visit, President Rumen Radev highly appreciated the quality and potential success of VinFast electric vehicles in the European market. He also proposed that VinFast should soon invest and cooperate in Bulgaria, including selling cars in the Bulgarian market, establishing a base for producing auto parts, manufacturing automobiles, or developing software for electric vehicles, while adhering to European standards and regulations.
Young entrepreneur Phạm Nhật Minh Hoàng (second from right) meets with Bulgarian President Rumen Radev during his visit to the VinFast Complex in Hai Phong.
This rare media appearance by the young entrepreneur, Phạm Nhật Minh Hoàng, has sparked curiosity about his involvement in newly established Vingroup companies.
What Companies is Entrepreneur Phạm Nhật Minh Hoàng Involved With?
According to sources, Mr. Phạm Nhật Minh Hoàng previously served as the Global Marketing Director for VinFast and led several launch campaigns in key markets.
Presently, Mr. Phạm Nhật Minh Hoàng is the General Director of Commercial and Services Joint Stock Company (FGF) – For a Green Future , a company engaged in the business of buying and leasing electric vehicles since July 2024. FGF has a charter capital of 200 billion VND. In this company, billionaire Phạm Nhật Vượng holds a 90% stake, Mr. Phạm Khắc Phương holds 9.9%, and Mr. Nguyễn Đức Minh holds 0.1%.
Notably, just a few months after its establishment, FGF is experiencing rapid growth. Initially, FGF aimed to provide 1,000 to 2,000 self-driving cars, including VinFast models, in major cities such as Hanoi, Ho Chi Minh City, and Da Nang. As of mid-November, FGF has leased over 2,000 electric vehicles long-term, surpassing its initial target within just four months. Additionally, FGF currently has 50 partners who are reputable used car dealerships, and this number is expected to exceed 120 by the end of this year.
Furthermore, entrepreneur Phạm Nhật Minh Hoàng is a major shareholder in the VinVentures technology investment fund, holding 5% of the shares. According to VinVentures, this fund is backed by billionaire Phạm Nhật Vượng and the Vingroup conglomerate, with a total asset value of $150 million. Of this, $100 million is an inherited investment portfolio from Vingroup, and the remaining $50 million is planned for disbursement over the next 3 to 5 years. VinVentures focuses on investing in artificial intelligence (AI), semiconductors, cloud computing, and high-tech products. Ms. Lê Hàn Tuệ Lâm currently serves as the Executive Director of VinVentures.
Notably, in late November, Mr. Phạm Nhật Minh Hoàng and his brother, Mr. Phạm Nhật Quân Anh, each acquired a 5% stake in the Robot Research, Development, and Application Joint Stock Company (VinRobotics). Vingroup holds a 51% stake in this company, while their father, billionaire Phạm Nhật Vượng, holds 39%, and each son owns 5%.
According to official information, VinRobotics will focus on research, development, and technology transfer in the fields of automation, industrial robotics, and AI.
“Wuling Cars Prove Efficient for Taxi Use, Says TMT Motor Vice President”
Mr. Bui Quoc Cong, Vice Chairman of TMT Motors, believes that Let’s Go Taxi’s strategy of deploying nearly 300 Wuling Mini EVs in Phu Yen and Binh Dinh provinces, with a competitive fare of 8,000 VND per kilometer, has stirred up the market. As a result, the taxi company has made a bold move by purchasing an additional 1,000 vehicles.
The Billionaire’s Heir: A Presidential Welcome at VinFast
This young entrepreneur is the second son of billionaire Pham Nhat Vuong. He previously served as the Global Marketing Director of VinFast, spearheading numerous launch campaigns in key markets worldwide.
“Unlocking Opportunities: Ho Chi Minh City and Bulgaria Explore Avenues for Collaboration”
President of the Republic of Bulgaria, Rumen Radev, emphasized that Vietnam is a significant partner for Bulgaria in Asia and praised the role and position of Ho Chi Minh City. With their shared similarities, the two countries have unlocked opportunities for collaboration in transportation, maritime affairs, logistics, and port infrastructure, among other areas.
The Future of Ride-Hailing: A VinFast Exclusive?
VinFast is set to launch two new models specifically designed for ride-hailing services in the coming months.
What Does VinFast’s Success as Vietnam’s Best-Selling Car Brand Tell Us?
According to Dr. Nguyen Son, a lecturer at RMIT University, VinFast’s leadership in the domestic automotive industry, surpassing even Toyota and Hyundai, reflects a significant shift in Vietnamese consumers’ perception of electric vehicles in general.
