Business | Born to Vin

Vingroup, Vietnam’s top conglomerate, leaps into global markets

Perhaps a bit too boldly

Apr 2nd 2022|Singapore

IN THE HEYDAY of Vietnam’s communist economy, comrades could expect their health care, education, housing and entertainment to be provided by the government. In the freeish-market Vietnam of today, those necessities are still purveyed by one dominant entity, albeit a capitalist one. Vingroup, the country’s biggest conglomerate, and its two listed subsidiaries, Vinhomes (a property developer) and Vincom Retail (which offers other real-estate services), jointly make up 28% of free-float shares in Vietnam’s stockmarket index (see chart). Their revenues are equivalent to nearly 2% of Vietnamese GDP.

This article appeared in the Business section of the print edition under the headline “Born to Vin”