return icon

With new 'business model', billionaire Pham Nhat Vuong could earn $1.5 billion

Billionaire Pham Nhat Vuong has launched a new system that is expected to help Vinhomes bring in about $1.5 billion in 2021.

Vinhomes Joint Stock Company (VHM) has released documents of the 2021 annual general meeting of shareholders, which set a goal to earn after-tax profit 45% higher (to VND35 trillion - $1.5 billion) year on year, and revenue of VND90 trillion.

The revenue of Vinhomes continues to come from mega-urban areas Vinhomes Ocean Park, Vinhomes Smart City, Vinhomes Grand Park and a number of new projects.

Vinhomes is building a new business model called O2O (Online-to-Offline) to bring its products to more customers through a variety of interactive channels.

This company will speed up the implementation of the first industrial real estate projects in the northern port city of Hai Phong. It started participating in this high-potential segment in 2020.

By late 2020, Vinhomes had a total undistributed profit of more than VND 56.2 trillion. The company will pay dividends at the rate of 45% in the third and fourth quarters, of which 15% will be in cash and 30% in shares.

In the first quarter, Vinhomes achieved a pre-tax profit of more than VND7,000 billion. This was also the time when Vinhomes officially applied the O2O model and launched an e-commerce platform specializing in leasing Vinhomes real estate products.

Hé lộ chiêu mới, tỷ phú Phạm Nhật Vượng tính thu 1,5 tỷ USD

Vingroup’s Chairman Pham Nhat Vuong.



According to Vingroup, it will issue $500 million of international bonds with a five-year term with the option to receive Vinhomes (VHM) shares priced at VND123,000 per share.

VHM stock is currently priced at VND97,000, a modest increase of about 30% over the past year.

Vinhomes is a real estate management enterprise - the core activity of Vingroup. The industrial park real estate segment is said to be a new push for Vinhomes.

Recently, many large corporations in Vietnam have focused on industrial real estate to welcome the new wave of foreign investment such as Hoa Phat, Viglacera, Gilimex, and others, in addition to other firms that have been active in this field for a long time such as KBC, ITA, Sonadezi, Nam Tan Uyen...

In the first two months of the year, Kinh Bac Urban Development Corporation (KBC) of Mr. Dang Thanh Tam attracted more than $1.2 billion (accounting for 50% of the country’s total) to its industrial parks such as Quang Chau (Bac Giang province), Trang Due (Hai Phong) … and it is expected that profit in 2021 will increase 6-7 times compared to the previous year as foreign capital is still pouring in. This is the highest profit ever expected by Dang Thanh Tam’s group.

According to Reuters, Foxconn will invest an additional $700 million in Vietnam in 2021. One of Foxconn's key projects is the $270 million Fukang Technology complex in Bac Giang province invested in by Foxconn Singapore PTE. Ltd. The factory is expected to produce about 8 million computers a year, including iPads and MacBooks, after Apple Inc asked suppliers to move their production lines out of China.

In 2020, Vietnam attracted $28.53 billion of foreign investment, a reduction of 25% year on year while capital disbursement reached $19.98 billion, 2% down. Asia was the largest investor in Vietnam in 2020, led by Singapore, South Korea, China, Hong Kong and Taiwan.

V. Ha

VN tycoon considers major deal, competes with foreign rivals in $10bil market segment

VN tycoon considers major deal, competes with foreign rivals in $10bil market segment

Masan Group billionaire Nguyen Dang Quang is considering a billion-dollar deal in an area that is Vietnam's strength but has been controlled by large foreign corporations for the past decade.

Husbandry: Vietnam’s new billion-dollar strength

Husbandry: Vietnam’s new billion-dollar strength

The Covid-19 pandemic has caused global trade bottlenecks and disruptions, but livestock exports are still growing strongly. With export turnover of $1.23 billion in 2020, livestock is the new export strength of Vietnam.



First-ever baguette festival honours national delicacy

1.6 mobile subscribers in danger of service termination after March 31

The Authority of Telecommunications (under the Information & Communications Ministry) yesterday announced that 1.9 million mobile subscribers successfully certify personal information with their carriers.

Case of four flight attendants carrying drugs remains under investigation

Regarding the case of the four Vietnam Airlines flight attendants who transport drugs from France to Tan Son Nhat Airport, the police have initiated an investigation and will provide updates on the results.

Foreign ownership at some local banks may rise to 49%

The State Bank of Vietnam (SBV) has proposed increasing the foreign ownership cap at some commercial banks from 30% to 49%.

Chinese manager arrested for murdering staff member in Binh Duong

A Chinese director of a company in the southern province of Binh Duong was arrested on Thursday after allegedly murdering a female staff member.

Hundreds of flights added for surging national holiday demand

Vietnamese airlines have provided around hundreds of additional flights to serve travel demand for Reunification Day (30/4) and International Labour Day (May 1).

New 3D virtual space promotes Vietnamese betel nut culture

The practice of chewing betel has deep cultural roots in Vietnamese traditions and is a customary element in engagement and wedding ceremonies, as well as during conversations.

HCM City organises first-ever bánh mì festival

Visitors can browse and enjoy a wide variety of Vietnamese bánh mì with many types of fillings, including vegetarian, as well as other baked goods and sweets.

20 districts, thousands of communes to be eliminated as part of admin reform

Eight districts and 563 communes have been eliminated as part of administrative reform. The figures will double or triple in the time to come.

Vietnam a potential market for shoppertainment: report

Vietnam is one of the most potential markets in the Asia-Pacific region for shoppertainment - a trend that combines online shopping with entertainment.

Education Ministry urges schools to boost vigilance after spate of scams

In response to a spate of sophisticated scams targeting parents and students, the Vietnamese Ministry of Education and Training (MoET) has called on schools to increase their vigilance and strengthen their coordination with parents.

Vietnamese artists, athletes exalted at Devotion Awards 2023

Outstanding artists and athletes were honoured at the Cong hien (Devotion) Awards 2023, which for the first time featured new categories for sports in addition to traditional ones for music.

Visa extension proposal to help boost Vietnam's tourism

The Government has agreed to propose to the National Assembly some new policies relating to the immigration, transit and residence of foreigners in Vietnam, including one on a visa extension to 90 days.

Vietnamese documentary films screened in France

Documentary films produced by young Vietnamese directors are being screened in a special programme entitled "Adventure of Varan Vietnam" in Paris from March 24- April 2.

New stamp set promotes Vietnamese biodiversity

A new stamp collection depicting the blooming flowers from fern trees that grow abundantly in Da Lat has been issued by Vietnam Post Corporation under the Ministry of Information and Communications.