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Retail Asia24/04/2019

The joint venture will be located in the automaker’s factory in the southern port city of Hai Phong, where it will manufacture lithium-ion battery packs for VinFast’s electric scooters that are being made now, and for electric cars to be produced in the future, VinFast said in a statement. The factory, which will be built […]

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Retail Asia15/04/2019

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Vingroup has acquired 87 Vietnamese Shop&Go convenience stores for just US$1. Vingroup’s retail arm VinCommerce, which manages Vinmart supermarkets and Vinmart+ convenience stores, will upgrade infrastructure, staff and goods at the acquired stores by the end of next month. According to a VinCommerce statement, Shop&Go made the approach and offered to sell itself. “The competition […]

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Retail Asia13/03/2019

Vietnam’s first full-fledged carmaker has started trial runs in its Hai Phong factory, preparing to deliver preordered vehicles later this year. The Lux SA 2.0 SUV, which has a 228 horsepower engine and an 8-gear automatic transmission, started its first run Wednesday at VinFast’s factory in the northern port city of Hai Phong. Commercial versions […]

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Retail Asia21/02/2019

VinFast, Vietnam’s first indigenous car manufacturer, plans to test its first vehicle for safety parameters in Europe on March 6. According to company executives, the vehicle will be tested for international standards to ensure its highest safety. This announcement came after VinFast’s Hai Phong factory successfully manufactured the first body shell of the Lux A2.0, […]

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Retail Asia18/02/2019

Pham Nhat Vuong is the first Vietnamese to enter the list of the world’s 200 wealthiest people. He has an estimated worth of $7.5 billion. Vuong, who heads the Vingroup conglomerate, is 198th on the real time billionaires ranking updated by Forbes magazine on Saturday. His net worth has increased by $3.2 billion over last year when […]

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Retail Asia06/02/2019

Vietnamese companies are branching out into new areas, in line with the government’s goal of establishing the country as a manufacturing powerhouse by 2020. Real estate conglomerate Vingroup has started manufacturing electric motorbikes and smartphones and is set to enter the car industry in June. VinFast, a Vingroup unit, began selling its first electric motorbike in November. […]

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Retail Asia04/02/2019

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Vietnam’s largest listed private company Vingroup has reported revenues of VND600 billion ($25.77 million) from car, electric motorbike and phone sales last year. VinFast, a Vingroup subsidiary, became the country’s first indigenous car manufacturer last October and showed off its first two car models at the Paris Motor Show in France. It has begun to accept bookings […]

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Retail Asia18/01/2019

VinFast, Vietnam’s first fully-fledged car manufacturer, plans to launch seven new ‘premium’ models. Following the first line of Lux (short for Luxury) automobiles aimed at the high-end segment, VinFast, a unit of Vietnam’s largest private conglomerate, Vingroup, has announced it will launch a Pre (short for Premium) car line with the aim of tapping a […]

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Retail Asia17/01/2019

Vietnam’s five most valuable brands were worth a combined $8.1 billion in 2018, up $2.3 billion or 39 percent against 2017, Brand Finance estimated. The most valuable brand was military-owned mobile network Viettel at $2.8 billion last year, up 9 percent from $2.57 billion 2017, said the UK brand valuation company. The 47th most valuable telecom […]

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Retail Asia04/01/2019

Vietnam surpassed Singapore and Thailand to top Southeast Asia in initial public offerings (IPOs) last year, raising $2.6 billion. This figure was 3.7 times that of 2017, according to consultancy Ernst & Young. Two of three largest IPOs in Southeast Asia last year were launched by Vietnamese companies: $1.34 billion from Vinhomes, a real estate […]

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Retail Asia17/12/2018

Vietnam’s largest private firm Vingroup launched four new phone models Friday, saying it aims to sell them internationally. The four new Vsmart phones, manufactured at the group’s VinSmart factory in Vietnam’s northern city of Hai Phong, are priced from 2.49 million ($107.18) to 6.29 million ($270.76) in the introductory phase. The prices will later increase […]

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Retail Asia06/12/2018

Vietnam’s largest private conglomerate, Vingroup, will introduce its first smartphones on December 14 as part of its tech expansion. The company will launch four new models under the brand name “Vsmart,” at the Landmark 81 skyscraper in Ho Chi Minh City. The phones are produced at Vingroup’s factory in the northern city of Hai Phong, […]

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Retail Asia26/11/2018

A Vingroup-invested firm has been allowed to include a casino in a hotel-amusement complex on Vietnam’s largest island Phu Quoc. The People’s Committee of Kien Giang Province announced that the Prime Minister has approved in principle the casino’s inclusion in a hotel-amusement being built on the southern province’s island. With the casino business, total investment […]

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Retail Asia26/11/2018

Vingroup is expected to invest VND1.2 trillion ($51.38 million) in a “Smart Electronics Factory” that will produce smartphones as its first products next year. The project, expected to be operational by the second quarter of 2019, is the first one to be implemented under a cooperation agreement between the Hoa Lac Hi-Tech Park (Hoa Lac […]

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Retail Asia08/11/2018

Vietnam’s biggest private conglomerate Vingroup has officially confirmed its acquisition of major tech products retailer Vien Thong A. In its financial statement for the third quarter of 2018, Vingroup lists Vien Thong A Import Export Trading Production Corporation as a fully-owned subsidiary. On September 14, Mai Thu Thuy, board member of the Vincom Retail Joint […]

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Retail Asia02/11/2018

Vingroup has invested VND13.6 trillion ($583.3 million) in its auto subsidiary VinFast in the first nine months of the year. VinFast, Vietnam’s first indigenous car manufacturer, is expected to eventually receive investments of $4.2 billion from the parent firm’s internal resources and loans. VinFast has already unveiled its first two cars, a sedan and an […]

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Retail Asia10/10/2018

VinCommerce, owner of the largest Vietnamese retail outlet chain, has bought out competitor supermarket chain Fivimart. The deal, whose value has not been revealed, delivers 23 Fivimart outlets to VinMart. VinCommerce, a member of the Vingroup business conglomerate, bought Fivimart from domestic company Nhat Nam JSC and Japanese retailer AEON, which held 70 percent and […]

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Retail Asia02/10/2018

Former Manchester United football star David Beckham introduced the first made-in-Vietnam cars in Paris on Tuesday. VinFast, a unit of Vietnam’s largest conglomerate Vingroup, invited Beckham to attend the opening of its new cars at the Paris Motor Show in France. Beckham is also known for his collection of rare, valuable cars including an Aston […]

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Retail Asia02/08/2018

Hanoi has submitted a proposal to the Ministries of Construction and Planning and Investment for building a new IT park possibly in Dong Anh District. It will be built by Vingroup on Vo Nguyen Giap Street on the way to Noi Bai Airport. It is estimated to cost US$302.54 million and likely to spread over 78.1 […]

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Retail Asia30/07/2018

Vingroup has opened its 55th shopping centre, The Vincom Center Landmark 81 mall, in Ho Chi Minh City’s Binh Thanh district. The 50,000sqm shopping centre occupies six of the skyscraper’s 81 storeys, housing 100 domestic and international brands in cosmetics, fashion, F&B, and entertainment. Fashion brands include Versace Jeans, Calvin Klein, Adidas, Tommy Hilfiger, Lacoste, […]

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