Business

VinGroup named top private firm in Vietnam

Property developer VinGroup was named the biggest private firm in 2017 by the Vietnam Report Company on December 5.
VinGroup named top private firm in Vietnam ảnh 1One corner of Vinpearl Da Nang.
(Photo: Vinperalpremiumdanang)

Hanoi (VNA) – Property developer VinGroup was named the biggestprivate firm in 2017 by the Vietnam Report Company on December 5.

Thecompany’s rational investment process and business development strategieshelped secure the honour.

Asof September 30, the group’s total assets were calculated at nearly 205trillion VND (9.02 billion USD), up 24.4 trillion VND (1.07 billion USD) fromthe end of 2016. Accumulated net revenue in the first nine months in 2017increased 65 percent year on year to 57.1 trillion VND (2.51 billion USD)thanks to good growth of property transactions, resort services, entertainment,retail sales and education.

Earlier, the group’s four trade brands, Vinhomes, Vincommerce, Vinpearl andVincom Retail, entered Top 50 Most Valuable Vietnamese Brands 2017 by BrandFinance, a valuation and strategy consultant.

Vinhomes ranked fourth with brand value of 604 million USD, up 18 percent fromlast year. This is the second consecutive year Vinhomes has entered the list.

Meanwhile, Vincommerce, Vinpearl, and Vincom Retail placed 19th, 26th and 32nd position, respectively.

The Vincom Joint StockCompany (VinGroup) was established in May 2002 with initial charter capital ofjust 196 billion VND (9 million USD). The company has emerged as a prominentplayer in retail, office and commercial real estate with many large projects,including the Vincom Mega Mall Royal City in Hanoi, said to be Asia’s largestunderground retail and entertainment complex.

In January 2012,Vinpearl JSC merged into Vincom JSC to form VinGroup JSC with charter capital exceeding7 trillion VND (308 million USD). The group has positioned itself as theleading multi-industry corporation in Vietnam. Its revenues rose to 57.7trillion VND (2.6 billion USD) in 2016 along with its rapid expansion intoretail, healthcare, education, automobile production and agriculture industries.

VinGroup has been planningto place itself on the global economic map. VinEco, the group’s foray into theagriculture sector, which provides safe and clean food, plans to export some ofViệt Nam’s agricultural products to Singapore, Malaysia, Hong Kong, Japan andDubai. In the healthcare industry, the company is collaborating with partnersin the United States, Japan, France and Singapore to treat serious diseaseslike cancer, diabetes and cardiovascular problems.-VNA
VNA
# Property developer VinGroup #biggest private firm #Vietnam Report Company #Vinhomes #Vincommerce #Vinpearl #Top 50 Most Valuable Vietnamese Brands 2017 #vietnamplus
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