It advanced five places to sixth in the 12th annual rankings done by research company Vietnam Report (VNR). The list includes mostly state-owned giants: Vietnam Electricity, PetroVietnam, military telecom company Viettel, petroleum retailer Petrolimex, lenders Agribank and BIDV, and Vietnam Airlines. Topping the list is Korean giant Samsung Electronics Co., also the biggest foreign investor in Vietnam. The firm has invested $17.3 billion in eight factories and one research and development center in the country, creating jobs for more than 160,000 locals. Exports from Samsung Electronics’ factories in Vietnam totaled $54 billion last year, accounting for around a quarter of the country’s total export revenue. Its two cellphone factories in Bac Ninh and Thai Nguyen provinces in northern Vietnam produce around half of all the cellphones that Samsung supplies to the global market. Samsung Electronics and Japanese automobile and motorbike maker Honda, which is in … [Read more...] about Vingroup’s major move: enters list of top 10 firms in Vietnam
Vingroup
Vingroup plans to sell 20 million non-convertible bonds
An image of Landmark 81 of Vingroup in HCM City. - Photo cafef.vn Property developer Vingroup has gained the State Securities Commission’s approval to sell 20 million non-convertible bonds. Vingroup bonds will be sold at VND100,000 (US$4.39) each in two phases without any covered warrants or guaranteed assets. Vingroup will sell the first 10 million bonds, coded VIC112020, from the beginning of December to the end of February. The sale of the second bond issuance, coded VIC122020, will take place within 90 days from the day the State Securities Commission receives Vingroup’s announcement. The total value of the bond deal is VND2 trillion ($87.8 million). Techcombank Securities (TCBS) is Vingroup’s advisor for the deal. According to Vingroup, the bond issuance will help it shake up its loans and clear its financial targets. Vingroup will spend VND1 trillion raised from the bond issuance to pay the original face value of VIC11504 on December 27, 2018. The remaining … [Read more...] about Vingroup plans to sell 20 million non-convertible bonds
Vingroup invests $4.5 million in gene decoding project
Gene studies will aid in the early treatment of some diseases and develop treatment methods suitable for each individual. — Photo genk.vnViet Nam News HÀ NỘI — The VinTech technology development company’s Institute of Big Data announced on Thursday that it will start a US$4.5 million project to build Vietnamese genome data next year. The project, “Building the Database of Genetic Variations of the Vietnamese”, will decode the genomes of 1,000 people to generate mass data for local and foreign researchers. It will run for five years starting in 2019, divided into two phases. In the first phase, which will last three years, scientists will collect samples from 1,000 Vietnamese participants, and then co-operate with partners from the US, Germany, Singapore and Japan to decode and analyse the genomes to build a database of genetic variations in the Vietnamese population. From this database, scientists will create genetic variation … [Read more...] about Vingroup invests $4.5 million in gene decoding project
Vingroup listed in Vietnam’s top 10 largest businesses
Illustrative image (Source: internet) Hanoi (VNS/VNA) - Vingroup has become the first and only private firm listed among Vietnam’s top 10 largest businesses (VNR500), according to the latest Vietnam Report JSC. This year, Vingroup has made a spectacular breakthrough by reaching 6th on the VNR500, which includes State-owned, FDI and private sectors. This is the first time a private enterprise has risen to a scale of comparable with major State-owned corporations such as Vietnam Electricity, PetroVietnam and Viettel, along with leading FDI firms such as Samsung and Honda. In the top 500 largest private enterprises in Vietnam, Vingroup continues to maintain its leading position. Vingroup’s breakthrough this year is thanks to its aggressive investment and strategic expansion. As of September 30, its total assets stood at 268.23 trillion VND, up 54.44 trillion VND compared with the end of 2017. The firm’s ownership equity was 98.11 trillion VND. In the first nine … [Read more...] about Vingroup listed in Vietnam’s top 10 largest businesses
Vingroup listed in VN’s top 10 largest businesses
An image of Landmark 81 in HCM City. Viet Nam News HÀ NỘI — Vingroup had become the first and only private firm listed among Việt Nam’s top 10 largest businesses (VNR500), according to the Vietnam Report JSC on Wednesday. This year, Vingroup has made a spectacular breakthrough by reaching 6th on the VNR500, which includes State-owned, FDI and private sectors. This is the first time a private enterprise has risen to a scale of comparable with major State-owned corporations such as Việt Nam Electricity, PetroVietnam and Viettel, along with leading FDI firms such as Samsung and Honda. In the top 500 largest private enterprises in Việt Nam, Vingroup continues to maintain its leading position. Vingroup’s breakthrough this year is thanks to its aggressive investment and strategic expansion. As of September 30, its total assets stood at VNĐ268.23 trillion, up VNĐ54.44 trillion compared with the end of 2017. The firm’s … [Read more...] about Vingroup listed in VN’s top 10 largest businesses