return icon

Vingroup abruptly abandons Vinpearl Air project

Vingroup announced today, January 14, to call off its project to set up Vinpearl Air even though the Ministry of Planning and Investment had just sent this project to the prime minister for approval, the local media reported.



A view of Tan Son Nhat International Airport. Vingroup today, January 14, announced its withdrawal from the aviation sector


According to Vingroup’s announcement, sent to the Ministry of Transport, its latest decision is aimed at enhancing its focus on the industrial and technology sectors, as part of the group’s restructuring plan. 

The Vietnamese conglomerate, however, will continue its pilot and aircraft technician training school, VinAviation School, which has been seen as a support facility for the Vinpearl Air project.

Pilot training courses at VinAviation are still running as normal, a representative of Vingroup noted.

The group also stated that it will continue to participate in projects to develop and upgrade the country’s civil aviation infrastructure.

On July 24 last year, Vingroup announced its cooperation with Canada's CAE Group to train pilots and aircraft technicians to provide manpower for the aviation sector.

In December last year, the Ministry of Planning and Investment proposed the prime minister consider and approve the Vinpearl Air project, which is expected to enter commercial service in July this year.

Nguyen Viet Quang, vice chairman and general director of Vingroup, pointed out that the Vietnamese aviation market holds great growth potential, so a number of major firms are tapping the market. The group’s strong investment in the aviation segment may lead to an oversupply.

Apart from this, the group is focusing on the growth of the industrial and technology sectors, motivating its withdrawal.

According to its development plan, released in 2018, Vingroup targets becoming Vietnam’s leading technology, industry and trade-service group in the next 10 years.

To fulfill its target, in December 2019, Vingroup withdrew from the retail and agriculture markets. On December 3, last year, Vingroup noted in a statement that it would merge its retail and agricultural arms, VinCommerce and VinEco, with Masan Consumer Holdings, the retail subsidiary of Masan Group.

On December 18, 2019, the group’s ecommerce website was merged with VinID, while it dissolved its electronics chain VinPro. SGT

Vinpearl Air may take off next year

Vinpearl Air may take off next year

The Ministry of Planning and Investment (MPI) has submitted to the Prime Minister plans for the establishment of Vinpearl Air, with investment capital of 4.7 trillion VND (202.6 million USD).

Vinpearl Air opens first pilot training course

Vinpearl Air opens first pilot training course

The VinAviation High-tech Human Resources Training School run by Vinpearl Air JSC under private conglomerate Vingroupon November 20 launched its first pilot training course for 180 trainees aged from 18-33.


Vietnam to attend ASEAN Tourism Forum 2023 in Indonesia

Vietnam will participate in ASEAN Tourism Forum (ATF) 2023 themed “ASEAN: A Journey to Wonderful Destinations”, and the Travel Exchange (TRAVEX) trade fair in Yogyakarta, Indonesia from February 2 – 5.

Hanoi and Ho Chi Minh City among safest cities in Southeast Asia

Hanoi and Ho Chi Minh City have both been included in a list of the safest cities in Southeast Asia, as compiled by statistics site Numbeo.

Action plan issued to accelerate national anti-corruption strategy building

Deputy Prime Minister Le Minh Khai, head of the steering committee on building the national anti-corruption strategy by 2030, has signed a decision on the issuance of the committee’s action plan.


Latest guidance on one-way money transfers from Viet Nam

HCM City proposes removing hindrances to develop real estate market

Ho Chi Minh City authorities made a proposal to clear bottlenecks for healthy and sustainable development of the real estate market.

More high-value foreign investment projects needed as tax policies change

Vietnam needs to improve FDI quality, attracting high-tech projects that promise to bring higher added value.

Khmer's ginger cake of love and faithfulness

The ginger cake of the Khmer ethnic group in Soc Trang Province is a beloved traditional treat that is often offered to ancestors on important anniversaries such as the Tet (Lunar New Year) festival.

HCM City promotes digital transformation in education

Digital transformation is considered key to improving education and training quality, as proven by the effect of HCM City actively applying digital transformation over the past five years.

Hanoi to close fruit shops lacking proper food safety preparations

The capital city of Hanoi encourages the expansion of safe fruit businesses while clamping down on fruit shops that do not comply with food safety protocols, specifically street vendors.

Dutch diplomat donates Vietnamese paintings to national museum

Vietnam National Fine Arts Museum has received two paintings from former deputy ambassador Ellen Berends of the Netherlands to Vietnam.

Hanoi's unique rice cooking contest in photos

On the 8th day of the first lunar month each year (January 29, 2023), Thi Cam village in Hanoi’s Nam Tu Liem district holds a rice cooking contest.

Hanoi proceeds with park revitalization program

The implementation of Hanoi leaders’ promise to revive parks has begun: admission to Thong Nhat Park is now free after the removal of the fence, and Con Coc Flower Garden has a new look. However, there are still many things that need to be done.

Vietnamese farmers on board the ‘digital agriculture train’

In the digital era, next-generation farmers can fertilize and water their fields in Binh Phuoc from afar, even in a different country.

Vietnam forecast to become second-largest economy in Southeast Asia by 2036

2023 is predicted to be the year of many challenges for the Vietnamese economy due to the gloomy outlook of the global economy and multiple crises.

Prenn Pass leading to Dalat to be closed for expansion

Vehicles will be banned from using the seven-kilometer-long Prenn Pass to travel to Dalat City as work on the pass upgrade and widening project begins on February 6.