Despite uncertainties in the global economy, Vingroup will continue focusing on winning over international markets this year, the company said at the 2023 Annual General Meeting of Shareholders on May 17.
Hanoi (VNS/VNA) - Despite uncertainties in the globaleconomy, Vingroup will continue focusing on winning over international marketsthis year, the company said at the 2023 Annual General Meeting of Shareholderson May 17.
VinFast, a Vingroup subsidiary that specialises in the design andproduction of electric vehicles (EVs), and Black Spade Acquisition Co.announced a merger on May 12.
The occasion represents a significant step toward VinFast'slisting on the US stock market and presents Vingroup and VinFast with newoptions for international financing.
In addition, VinFast continues to focus on the production oflaunched EV models for delivery to customers and prepares for the manufacturingof new models, which are the VF 6 and VF 7, while ramping up the progress ofsetting up a plant in North Carolina.
In 2023, the Board of Directors of Vingroup targets a net revenueof 190 trillion VND (8.1 billion USD), a gain of 87% year-on-year. If it isreached, this will be the highest net revenue since the company startedoperations. The company's profit after tax is forecast to slightly decrease by 44billion VND from last year’s figure to 2 trillion VND.
For its fund-raising plan, Vingroup expects to issue a maximum of 5trillion VND in bonds in one or many offerings. They are convertible bonds witha maximum coupon rate of 15% a year.
The term of a bond ranges from 12 months to 60 months. Vingroupwill offer private placement or public placement, depending on the actualsituation.
Last year, it raised nearly 1.1 billion USD from internationalmarkets, demonstrating the company's reputation globally.
Regarding the plan to use accumulated profit after tax as of theend of 2022, Vingroup proposes to distribute 5 billion VND to the reserve fundaccording to the provisions of the group's charter, and all accumulated profitswill be kept for operating activities./.
Chairman of VinGroup Pham Nhat Vuong is not in the list of people banned from traveling abroad, and the firm is operating normally, according to Lieut. Gen. To An Xo, Chief of the Office and Spokesperson of the Ministry of Public Security.
Vietnam’s largest conglomerate Vingroup has released its consolidated financial statements for the third quarter of 2022, with a profit after tax of over 506.3 billion VND (2 million USD).
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
At the meeting (Photo: Vingroup) 
