Vietnamese billionaire Pham Nhat Vuong

According to Forbes, the conglomerate Vingroup, which is owned by the Vietnamese billionaire, signed a licensing agreement with Dublin-based Medtronic in April with the aim of producing ventilators through two subsidiaries.

The deal will see auto manufacturer Vinfast and electronics firms Vinsmart shift their production, with the pair capable of producing a total of 10,000 ventilators each month.

Along with the pair, Taiwanese firm Foxconn are also set to contribute by working alongside ventilator developer Medtronic to create the lifesaving devices.

In addition to striving to supply the nation with vital medical equipment, Vingroup has also committed a sum of US$4.3 million to be spent on medical supplies and testing through the Vietnam Fatherland Front Central Committee. Furthermore, the group has also spent approximately US$1 million to sponsor research projects that are seeking a vaccine for the COVID-19.

Moreover, Vincom, the company’s retail arm, has allocated approximately US$13 million in an effort to support tenants who have been negatively impacted by the economic fallout from the virus.

These charitable actions have seen plenty of international users take to social media platform Twitter to share news of Vingroup’s anti-epidemic activities. Most notably, Scott Whitaker, Chairman of the Advanced Medical Technology Association based in Washington, DC, heaped praise on Vingroup’s efforts to fight the COVID-19 pandemic globally.

In addition to being recognised by Forbes, billionaire Pham Nhat Vuong has also been praised by an array of international news agencies such as CNN, Reuters, Nikkei, and NHK for his actions to combat the COVID-19. VOV

2019: Pham Nhat Vuong is richest Vietnamese billionaire

Pham Nhat Vuong, president of Vingroup, and Nguyen Thi Phuong Thao, CEO of Vietjet Air and vice president of Hdbank, top the 2019 list of Vietnamese stock billionaires.

Vingroup to produce ventilators, body thermometers

Vingroup announced on April 3 that it would produce ventilators and body thermometers to serve the domestic market amid the complicated developments of the COVID-19 pandemic.