Pham Nhat Quan Anh, deputy CEO of VinFast (red tie) at the MOU signing ceremony.

Anh was seen at a ceremony where VinFast and Marubeni Group announced the signing of an MOU on repurposing end-of-life EV batteries in a circular economy, an event within the framework of the Vietnam-Japan Business Forum and summit held on the occasion of the 50th anniversary of the ASEAN-Japan partnership establishment in Tokyo December 16-18.

VinFast cooperates with Marubeni to carry out research on clean energy solution applications and smart energy storage.

Anh had never before appeared before the public and was just known as Vuong’s son when Vuong gave an interview to a local newspaper in 2019. At that time, Vuong said he would not force his children to continue their father’s business if they did nor want to.

He stressed that only if children really liked the business and have real ability will they develop the family’s business

Prior to that, on December 15, the HCM City Stock Exchange (HOSE) announced that Anh, the son of Vingroup President Pham Nhat Vuong, had registered to buy 150,000 VIC shares under the Employee Stock Ownership Plan (ESOP).

At this time, Quan doesn’t hold shares of the group, and he will make the transaction as a person related to insiders.

Prior to that, Vingroup announced a plan to issue 9.88 million ESOP shares at the price of VND10,000 per share to high ranking executive officers of the group and subsidiaries to recognize their contribution and devotion to the group’s development, and enhance their role and responsibilities.

In another announcement, Pham Thu Huong, Vuong’s wife, Vingroup vice president, also registered to buy 672,000 ESOP shares.

Other senior executives of Vingroup have also registered to buy ESOP shares, including CEO Pham Viet Quang (672,000 shares), Duong Thi Hoan, deputy CEO (672,000) and Mai Huong Noi, deputy CEO (150,000).

The shares bear transfer restrictions within one year from the date of completion of the issuance. 

Vingroup’s administration report shows that three children of Vuong, including Pham Nhat Quan Anh, Pham Nhat Minh Hoang and Pham Nhat Minh Anh, and daughter in law Bui Lan Anh are not holding any VIC share.

VIC was traded at VND43,200 per share on December 18, which represented a 19 percent price decrease compared with early this year.

Ngoc Ha