Mr. Do Tien Si
According to the business registration changes on November 3, Vinmetal Corporation, a member of Vingroup (VIC), has appointed Mr. Do Tien Si as the new CEO and Legal Representative, replacing Mr. Nguyen Viet Quang, who previously held this position alongside his role as Vingroup’s CEO.
Mr. Nguyen Viet Quang will continue as the Chairman of Vinmetal’s Board of Directors.
Profile of Vinmetal’s New CEO
Born in 1967 in Ho Chi Minh City, with roots in the former Ha Tay province (now Hanoi), Mr. Do Tien Si holds a Medical Doctor degree from Ho Chi Minh City University of Medicine and Pharmacy, a Bachelor’s in Management & Marketing from Monash University (Australia), and dual Master’s degrees in Business Administration from INSEAD (France) and Tsinghua University (China).
Notably, he currently serves as Vice Chairman and CEO of Pomina Steel Corporation (POM) and is a Board Member and Audit Committee Member at Mobile World Investment Corporation (MWG). He is also the brother of Mr. Do Duy Thai, Chairman of Pomina.
With over 30 years in Vietnam’s steel industry, Mr. Si served as Deputy CEO of Tay Do Steel (1995–2000) before becoming CEO of Pomina (2000–2008). In 2009, he was elected Vice Chairman of Pomina, with Mr. Do Van Khanh as CEO. He reassumed the CEO role in June 2015.
During his tenure, he chaired Pomina’s Board (2022–2023) and currently holds 8.6 million POM shares (3.08% equity).
Pomina: The Legacy of the Do Family
Once Vietnam’s leading steel brand with the slogan “The Core of Life,” Pomina dominated the early 2010s market. Specializing in construction steel, its three plants (Pomina 1, 2, 3) boasted a 1.5 million ton/year capacity, making it a domestic steel icon.
However, mistimed investments led to challenges. Pomina’s Board recently approved a restructuring plan, set for a December 2025 extraordinary shareholder meeting.
Q3 2025 financials showed revenue down 58% YoY to VND 203 billion, with a VND 183 billion net loss (vs. VND 286 billion in Q3 2024). Accumulated losses reached VND 3.05 trillion, with negative equity of VND 187 billion.
Failed Partnerships with Nansei and Thaco
Pomina sought capital through strategic partnerships but faced setbacks. In September 2023, a 51% stake sale to Japan’s Nansei for $58.9 million failed due to Vietnam’s 50% foreign ownership cap.
Talks with THACO Industries stalled over due diligence on steelmaking processes and Thaco’s ambitions for auto-grade steel production, requiring extended timelines.
VinMetal: Vingroup’s Ambitious Steel Venture
Established on October 6, 2025, with a VND 10 trillion charter capital, VinMetal is 98% owned by Vingroup, with 1% each held by Phạm Nhật Vượng’s sons.
Its Phase 1 goal is a 5 million ton/year high-tech steel complex in Vung Ang, Ha Tinh, producing construction steel, high-strength alloys, and automotive-grade steel for VinFast and infrastructure projects.
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Billionaire Pham Nhat Vuong’s Vingroup has been shaping a vast ecosystem, spanning multiple sectors from technology and industry to real estate, infrastructure, energy, and culture-society.
Vingroup Unveils Cultural Pillar, Aiming to Craft World-Class Artistic Spaces
On November 10, 2025, Vingroup (HOSE: VIC) announced the addition of a new pillar, Culture, to its existing portfolio of Technology & Industry, Commerce & Services, Infrastructure, Green Energy, and Social Philanthropy.
Vingroup’s $10 Billion Mega-Project Featuring the World’s Tallest 108-Story Offshore Tower Receives New Directives from Ho Chi Minh City Leadership
TPHCM Party Secretary Tran Luu Quang has urged all relevant agencies and units to accelerate the construction progress of ongoing projects, ensuring timely completion as per the set deadlines, as reported by the People’s Committee of Ho Chi Minh City.
Vingroup Expands into New Territory
Vingroup has ventured into the cultural sector by establishing three distinct companies: V-Culture Talents, V-Film, and V-Spirit. Each entity plays a strategic role within the broader cultural and artistic ecosystem, collectively driving the group’s vision in this domain.
Vingroup Merges Two Subsidiaries
Vingroup’s Board of Directors has approved the merger of VinApp into VinSmart Future, strategically optimizing the operations of its technology companies within the conglomerate.
