Daily reports on cars repaired beyond 8 hours

A standout revelation from the event was Vingroup’s plan to add two new pillars to its business operations: infrastructure and energy. For infrastructure, the company is proposing to self-finance rail lines such as Phu My Hung - Can Gio and Hanoi - Quang Ninh. In energy, it is pursuing projects including seaport development and plans to build up to 25.5 GW of renewable and LNG-based power by 2030, with a target of 52.5 GW by 2035.

Back in August 2018, under Vuong’s leadership, Vingroup announced a transformation into a tech-industrial-services conglomerate with the goal of becoming world-class by 2028, emphasizing technology as its core driver. Since then, the group has continued to restructure according to this strategic vision.

Answering questions on how VinFast compares with foreign electric vehicle manufacturers, Vuong highlighted three essential pillars: quality vehicles, competitive pricing, and exceptional after-sales service.

VinFast, he explained, is constantly working to reduce costs through product development and operational efficiency - allowing it to confidently go head-to-head with Chinese automakers.

But what truly sets VinFast apart, Vuong said, is its deep commitment to customers. “That means outstanding after-sales service,” he stated. Every day, VinFast’s after-sales division sends him a direct report listing vehicles that take over eight hours to repair.

“I receive a daily list of 5 to 7 vehicles under standard conditions - not those severely damaged in crashes - that are under repair for more than eight hours. It shows how seriously we take after-sales. That’s why I believe VinFast won’t just compete, but will thrive in the market.”

“The country will benefit”

Responding to questions about Vingroup’s recent divestments from VinBrain and VinAI, especially as AI is booming globally, Vuong clarified that the deals with NVIDIA and Qualcomm came with a vital condition: continued strong investment in Vietnam.

“That’s the main reason behind the deals. We want to attract top global tech firms to Vietnam and lay the groundwork for domestic scientific and technological advancement,” Vuong said. “They must open R&D centers here and hire Vietnamese talent. That creates long-term opportunities for innovation and industry.”

He emphasized, “The fact that we made a few hundred million dollars is not what Vingroup cares about.”

According to Vuong, Vingroup doesn’t aim to hold companies or assets long-term. Instead, it aims to incubate and accelerate their growth. Once they reach a certain maturity, the group is ready to divest and reinvest in dozens or hundreds of new ventures.

“In parallel with divesting, I’ve established a $150 million venture capital fund for tech startups,” Vuong revealed. “The fund is now actively sourcing projects. If someone presents a compelling idea with real future potential, I’ll invest. What matters is whether the idea is truly viable.”

He added, “The group might benefit - or might not. It could even lose. But the country will benefit. I believe even tech companies should be allowed to fail a few times before succeeding. It’s a competitive arena where those who don’t win the first time can keep fighting. The more chances they get to fail, the stronger their eventual success will be. We must be willing to sacrifice early to grow sustainably.”

“To summarize, the first goal is to build a robust national foundation. The second is to open up more startup opportunities for young people. So, I’ve decided: if a company is stable, has a good partner, and the deal brings shared benefits, we will sell. We won’t cling to it.”

“What Vingroup needs can still be guaranteed through cooperation contracts for product development. That way, not only does Vingroup benefit, but other Vietnamese businesses can also access and share the results. This is the strategy to develop an ecosystem of small and medium-sized tech enterprises in Vietnam,” Vuong explained - sharing thoughts he had never made public before.

At the shareholders’ meeting, Vingroup reiterated its commitment to sustainable growth and its leadership in building a green economy, positioning Vietnam for progress in the new era.

For 2025, Vingroup targets revenue of VND 300 trillion (approx. USD 11.8 billion) and post-tax profit of VND 10 trillion (approx. USD 393 million), focusing on sustainable development through a “green transition” campaign and maintaining market leadership in its core sectors. The group will continue enhancing product quality, services, and customer experience.

In 2024, Vingroup recorded net revenue of VND 189.07 trillion (USD 7.4 billion), a 17.1% increase over 2023. Post-tax profit reached VND 5.28 trillion (USD 207 million), up 156.6%. By the end of 2024, total assets stood at VND 839.22 trillion (USD 32.7 billion), an increase of VND 172 trillion from the previous year.

Manh Ha