“VinFast: A Mission-Driven Business Venture with a Visionary Billionaire at its Helm.”

“VinFast isn’t just a business venture; it’s a dedication to elevating Vietnamese manufacturing on the global stage and creating a sustainable green ecosystem for future generations. The fact that VinFast, a Vietnamese electric vehicle brand, has risen to dominate the domestic market and is now expanding internationally is nothing short of remarkable. It showcases the determination and tireless dedication of the entire Vingroup collective, supported by the enthusiasm of the Vietnamese people.

I believe this significant milestone will inspire and motivate businesses and communities alike to strive for a greener and more prestigious Vietnam as we enter a new era of development: an era of soaring ambition for a greener future,” said billionaire Pham Nhat Vuong, Chairman of Vingroup’s Board of Directors, in the 2024 annual report.

In the past year, Pham Nhat Vuong’s VinFast delivered nearly 88,000 vehicles in the Vietnamese market, becoming the top-selling automotive brand in the country. The VF5 and VF3 models were the best-selling vehicles. This is the first time a domestic industrial brand has led the domestic automotive market, surpassing numerous well-known global competitors. Notably, the VF3 mini car has become a phenomenon in the automotive market, with over 25,000 vehicles delivered to consumers.

Nguyen Viet Quang, Vice Chairman of the Board of Directors and CEO, attributed VinFast’s success to its “core values of offering high-quality, affordable vehicles and exceptional after-sales service for electric cars,” along with the enthusiastic support of the Vietnamese people.

In addition to automotive excellence, billionaire Pham Nhat Vuong’s other business ventures also achieved impressive results in 2024.

In real estate, Vinhomes introduced Vinhomes Royal Island in Hai Phong’s Vu Yen Island, spanning 877 hectares with a total investment of $2.4 billion. Designed as a “city within an island, island within a city,” the project attracted 2,000 buyers within a month of its launch. It completed 500 shophouses in just six months and welcomed 2.5 million visitors from March to December. As of December 31, 2024, the unrecorded revenue in the real estate sector amounted to VND 94,200 billion.

In the tourism sector, Vinpearl welcomed 10.9 million visitors, representing a 50% growth in the number of guests at its tourism, resort, and entertainment facilities. Notably, international visitor numbers increased by 58% compared to 2023, significantly outpacing the industry average of 40%. VinWonders also saw a 39% increase in visitors compared to 2023 and a 19% increase compared to pre-Covid-19 levels, welcoming nearly 7 million visitors. The tourism, resort, and entertainment sector’s revenue grew by an impressive 80%, reaching VND 8,642 billion.

In education and healthcare, VinSchool now has 54 facilities nationwide with 48,300 students, while Vinmec successfully performed a liver transplant for a child with congenital bile duct obstruction, pelvic and femur replacement surgery for a bone cancer patient, and endoscopic heart surgery for a 3-year-old child, among other achievements. Revenue in the education and healthcare sectors reached VND 5,944 billion and VND 4,487 billion, respectively, reflecting a 15.9% and 1.6% increase compared to 2023.

In 2025, Vingroup will continue to focus on its three main pillars: Technology & Industry, Trade & Services, and Social Philanthropy.

In the Technology & Industry sector, VinFast aims to maintain its leading position in the Vietnamese market, focusing on popular models like the VF 3 and VF 5, expanding its distribution network, and enhancing its services. It will also venture into the Green vehicle line to tap into the vast potential in the transportation and taxi industries.

In the Asian market, VinFast will continue to target Indonesia, the Philippines, and India, supported by its green mobility ecosystem strategy through partners such as GSM and V-Green, two companies owned by Pham Nhat Vuong. Assembly plants in Indonesia and India are set to commence production in 2025.

In the Trade & Services sector, Vinhomes will maintain its leadership in the real estate market with large-scale, master-planned urban areas in prime locations with convenient transportation connections. These urban developments will integrate Vingroup’s diverse ecosystem of amenities and iconic structures. On April 19, Vingroup commenced construction on the super-project Vinhomes Can Gio, officially named Vinhomes Green Paradise.

This year, Vinpearl aims to solidify its position as the leading brand in entertainment, tourism, and resorts in Vietnam, especially catering to families. Vinpearl will explore potential markets such as India, the Middle East, and Southeast Asia while strengthening its presence in Vietnam.

In the realm of social philanthropy, Vinmec will enhance its operations by adopting the Hub & Spoke model, where specialized hub hospitals provide advanced care, and spoke hospitals offer initial screening and treatment. In education, Vinschool plans to open two new schools, increasing the total number of students to 52,000.