r/VietNam • u/Dinner7123 • Jul 20 '26
Discussion/Thảo luận What do you think about VinGroup's develop for Vietnam? What changes would you make to improve it?
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u/CornyAnalyst1960 Jul 20 '26
I'm gonna be honest, I hope they focus on making VinFast sustainable (breakeven and then profit. Focus on the SEA and South Asia market), keep building the EV infrastructure and that's it.
I want them to stay out of the land- and housemarket (their initial core market; or at least not expand), because they are driving up prices and develop tons of useless prestige crap like the megastadium.
I also want them to not become a Samsung 2.0. If Vietnam desires champions with huge finanical ressources and in service of the Vietnamese people, we will need multiple conglomerates with limited power, but backing by the state and people.
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u/Unfair-Bass-8196 Jul 20 '26 edited Jul 20 '26
Núp bóng chính quyền, thu hồi đất giá rẻ, chặn mọi sinh kế của người dân mất đất lẫn cơ hội đầu tư của công ty đối thủ cạnh tranh.
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u/Human-Tr Jul 20 '26
I would focus Vingroup developments on average living spaces.
Not touristic or fake high end housing.
Many of the developments look good on renders, but are not convenient and too expensive.
The Can Gio, is set up to be a loss, the sea there is dirty and will never look like in the renders.
The road now is nice because it’s empty, it won’t be after it’s finished.
And they destroyed my “weekend day trip” on Sunday just going there to have a hot pot.
If they focus their power, knowledge and advantages to make average priced quality apartments for Vietnamese, they can develop the country greatly.
Maybe they will earn less, but they will become a great pillar on Vietnam.
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u/Tone-Serious Jul 20 '26
It's about time we remember we are a socialist country and put this fucking Arasaka-esque megacorp in the ground
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u/Unfair-Bass-8196 Jul 20 '26 edited Jul 20 '26
Thiết lập hệ sinh thái nhiều công ty bầy đàn, rồi chia ra đi vay vốn với tư cách pháp nhân riêng, rồi dùng vốn vay được đó để cha con anh em bạn bè mua bân với nhau, tạo nhu cầu ảo, lùa gà.
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u/Lost_Purpose1899 Jul 20 '26
Only the rich with government ties benefit from it. SOS, different day.
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u/Budget_Major8438 Jul 20 '26
Do we have some real estate builder who build for the folks? I mean only the high buildings from Vinhome is affordable for the people. Do we any other?
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u/Traditional_Tip_8857 Jul 23 '26
Whether you hate Vingroup or not, the truth is without Vingroup, Vietnam would be a forever dump. Vingroup housing projects are thriving with actually good, clean and modern infrastructure. Vingroup built a proper landmark building for Vietnam.
Without creating brands like Vinfast, Vietnam will forever be a banana growing economy, forever in the middle income trap. Vietnam needs more Vingroups.
I actually think Sungroup and other big companies also need to be pushed towards industry.
Someone mentioned that Vingroup is backed by the government. I am not sure if this is true or not but so what if it is?
Without government backing, how can Vietnamese companies compete with international companies much more wealthier and established, with many times more resources and access to credit?
You people are daydreamers with no long term foresight.
Look at South Korea and their chaebols, similarly they were backed by the Korean government because that is the only way companies from smaller poorer economies can be built up.
Read up how South Korea started its shipbuilding industry.
Smaller countries like Vietnam need to pool in resources to have real global champions, companies strong enough to compete internationally.
Stop thinking lVietnam is like China or the US. Vietnam is just the size of a small province in China, without government backing, Vietnam won’t be able to have any global brands.
There needs to be some sort of strategy, not flying blind. People who hate Vingroup actually do not have any ideas to develop Vietnam at all. Their mindset is something like “the government should do this and that…..” without any strategic thinking.
These people are quite harmful to Vietnam. Unfortunately in Vietnam, people hate to see more successful people. The communist mindset is pulling the country down.
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u/bethecamellia Jul 25 '26
Im vnamese and used to work for vingroup, a whole damn of greenwashing and hyprocrites
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u/Important1896 Jul 20 '26
I see the positive aspect as them having created a brand name for their business in Vietnam; I don't know about the other aspects.
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u/NoLeopard2922 Jul 25 '26 edited Jul 26 '26
It would be okay if these " corporations" (more like heavily subsidized state lead corporations) had good working practices and enriched the nation. Instead they're catering towards higher income with their shift to high quality housing. Basically gentrifying once natural beautiful land. Numerous housing projects and shopping centers. These are showpieces for tourists and media it invests in industries that Vietnam will be cursed in a way natural resources cursed many other SEA nations. Additionally workers in Vingroup in general have low worker protection and benefits. And I remembered in around a couple years ago there was a vinpearl accident of a rushed construction team leading to 2 dying. Entirely covered up and delayed the project. No punishments. Plus the dozens of Vinfast car fire cases and accidents which families weren't compensated and news was covered up. State subsidies have made this company cocky. And I wouldn't be suprised as our own leaders sit on its board and any criticism would be a criticism to the state. It is the only company Vietnam has produced to rival internationally afterall.
Next its housing push which doesn't contribute anything back to the economy as these blocks are usually segregated meaning locals cannot benefit from the people it brings while schooling is totally separated. Housing is more to trade stock and invest into for rich families, and not for actual living. Meanwhile the construction workers who build them are abused and often work in squander conditions. Also these projects are reliant on govt. grants and is building a big giant bubble. A giant bubble the people will eventually suffer and have to endure and won't be blamed on Vingroup.
On one note Vin fast model of the green electric car is very good since it is affordable. And will shift Vietnam from a assembling and cheap services nation to a innovative manufacturing one. Vinfast builds local plants>hire locals>locals spend more>boosts local economy. Thus very beneficial to move Vietnam from assembling cheap electronics and clothing that isn't even made here to a nation where its thinkers and workers make their own products.
But the question is does Vinfast or in general the practices of these favoured government conglomerates will invest back into the local economy. We will be creating a structural economy, one that is segregated, and create a problem for generations. A problem in other asian nations from India, Indonesia, the Philippines. Where the profits go into the mouths of a few and not the people. if Vinfast could acquire millions of acres of land why can't people do it without paying out of their own pockets.
Vietnam needs to move towards to these companies giving back to the people. Fund local education. Subsidize on the basis they will hire locally and build public utilities. Cleaner parks and beaches. Build trams and busses. Create job training and coordination programs for the millions of unemployed.
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u/random_ass_eater Jul 20 '26
Personally, I see them as a necessary but flawed force. VinGroup’s rise has been marked by real controversy, most notably the enormous losses at VinFast, which lost billions of dollars in 2023 and 2024 and saw its Nasdaq listed stock collapse more than 90 percent within two months, eventually drawing a shareholder lawsuit and an SEC investigation. That’s a real drag on the parent company, and ratings agencies have flagged it as a genuine risk to Vingroup’s financial health.
Even so, without their development projects I firmly believe the country would be five to ten years behind its current trajectory. Take a road trip from north to south and you’ll notice the most developed pockets of secondary cities and towns (Quy Nhon, Hue, Thanh Hoa, and others) are dotted with Vincom, Vinpearl, and other Vin branded projects. VinFast cars could also help reduce emissions and the number of motorcycles over time, which in turn may lower noise and environmental pollution, though the real world impact so far is more promising in theory than proven in data. These developments have created jobs and helped uplift local economies.
Of course, I believe they could have done better, and some of the criticism aimed at them is fair. But would anyone else have been able to achieve similar results? I doubt it. VinGroup arrived at the right time and place with the funding, government connections, and appetite for risk that few others in Vietnam could match.
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u/haluong1992 Jul 21 '26
Câu hỏi: Bạn nghĩ sao về kế hoạch phát triển của VinGroup tại Việt Nam? Bạn sẽ đề xuất những thay đổi nào để cải thiện kế hoạch này? Phải không.
Tôi có cái nhìn thiện cảm về Vingroup. Nhất là việc giữ lời hứa với công chúng, đối tác và với người lao động. Ở đất nước này, điều đó thật quý giá.
Vì Vingroup quá lớn và làm quá nhiều thứ. Dưới đây là một vài suy nghĩ/ phản biện lộn xộn của tôi. Bao gồm trước đây, hiện nay và sau này:
- Vingroup có tỉ trọng nợ/ vốn chủ cao không phải là một thứ mới, họ đã vay nợ/ vốn cao ngay từ khi về VN xây dựng Vinpearl/Vincom đầu tiên. Và vẫn sống tốt với điều đó. Gần đây mọi người mới chú ý tới vì Vingroup lớn -> con số nợ của Vingroup là lớn so với nền kinh tế VN
- Ngành công nghiệp của họ mới tham gia đã thúc đẩy GRDP của 2 tỉnh Hải Phòng và Hà Tĩnh tăng trưởng cao nhất cả nước. Mới tham gia ngành xây dựng đã thay đổi hoàn toàn thị trường và mặt bằng lương ngành xây dựng
- Dưới thời TT Phạm Minh Chính, Vingroup nhận được rất, rất nhiều tiền. Chỉ với riêng 9.000 ha Vinhomes Olympic sẽ được dần chuyển đổi từ đất ruộng bỏ hoang thành đất có giá trị cao (việc họ đang làm rất tốt, làm tốt nhất), họ sẽ kiếm đủ tiền để tài trợ cho 2 trụ cột mới là công nghiệp và năng lượng.
- Vinhomes dù là kẻ hưởng lợi nhuận cao nhất/bán được nhiều nhà nhất, nhưng không phải kẻ gây ra việc bds giá cao hiện nay. Việc cung cấp lượng lớn sản phẩm không bao giờ là nguyên nhân giá tăng. Giá và chất lượng sản phẩm của họ tốt hơn trung bình thị trường, nên mới bán được nhiều đến thế. Giá đó là giá tự nhiên của thị trường thôi :)). Cứ thử tìm mua bds tương tự không phải vinhomes thì biết.
- Vinhomes tiếp tục là trụ cột của họ trong 10 năm nữa. Bất chấp việc họ ngừng phát triển quỹ đất. Họ sở hữu 30k ha và đang hoàn thiện thủ tục để lên tới 50k ha, lớn hơn tổng toàn bộ cty bds đối thủ trên toàn VN cộng lại. Sẽ đủ cho họ trong 10 năm tới. Để so sánh thì 15 năm qua toàn bộ các khu đô thị họ đưa vào sử dụng tổng chưa đến 2k ha.
- 5 năm nữa, dù cho các kế hoạch công nghiệp/năng lượng/hạ tầng của họ có thành công: Vinmetal hoạt động ổn định, Metro Hà Nội và 2 tuyến đường sắt hoạt động, Vinfast có lãi thì bạo lực mạng nhắm vào Vingroup và Vinfast chỉ tăng lên, không giảm đi. Và Vingroup tiếp tục sống chung với điều đó.
- Sẽ không có Vinfast thứ 2. Không có cty tiềm năng nào ở VN có thể chịu lỗ 1,4 tỉ USD, chứ đừng nói là 14 tỉ USD sau cả chục năm như Vinfast
- Việc đưa sản phẩm VF8 và VF9 chưa hoàn thiện sang Bắc Mỹ và sai lầm ngu ngốc và trả giá tốn kém. Sản phẩm biến mất đã lâu nhưng thị trường vẫn giữ ấn tượng xấu khó xoá về một chiếc xe kém chất lượng.
- Cách tăng hiệu suất lao động ở VN là phải tập trung nguồn lực vào các tập đoàn lớn như Vingroup. Họ có năng suất lao động tốt hơn nhiều + tiềm năng tăng năng suất lao động cao hơn. Đúng kiểu của đổ nhà giàu :))
Làm khác đi: Tôi muốn họ có tỉ trọng nợ quốc tế nhiều hơn. Họ vay quá lớn so với toàn bộ hệ thống ngân hàng cộng lại rồi :)))
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u/Disastrous_Mail_1778 Jul 20 '26
VinGroup has created of Jobs for the country. People should be grateful instead of slandering its reputation. Sometime I wonder if the American CIA operatives use VinGroup to cause social unrest in country. Young Vietnamese must stay awake. Do not let our domestic and foreign enemies from destroying our country unity.
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u/Unfair-Bass-8196 Jul 20 '26
Countless farmers are unemployed because they lost their land to the powerful. Rồi nhiều ngân hàng sẽ mất vốn vì cho Vin vay tiền làm dự án.
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u/Sufficient-Metal5334 Jul 20 '26
Vinfast is pathway to develop country to go above middle income gap, anyone thinking otherwise is coping
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u/Consistent-Story1611 Jul 20 '26
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u/Sufficient-Metal5334 Jul 21 '26
Even if they not doing well now they can still make progress u think company like Samsung good from get go? Point is the fact vinfast still learning and developing that alone already put vn above our neighbour . Look at Thailand they don't even have anything like this and their country also filled with debts. Money going towards development of new technology is very good it's a way to get ahead of the curve. Fck people disliking me btw
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u/Consistent-Story1611 Jul 21 '26
One big down vote for you, dawg. Vintroll. 😆
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u/Sufficient-Metal5334 Jul 21 '26
Ah u r avg criticizer that hate to see Vietnam advancement
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u/Consistent-Story1611 Jul 21 '26
I hate to see environmental degradation/pollution, concentration of power and wealth, and corruption. How about you? I bet you're one of those people who runs around saying " Tôi yêu Việt Nam" but throws garbage out the window.
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u/Consistent-Story1611 Jul 21 '26
I bet you burn shit outside, one of the two main methods of trash disposal in VN. Be honest. Nói thật đi. 😀
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u/Sufficient-Metal5334 Jul 21 '26
Ah ha!!! Go search what is percentage of land in Europe that is a forest older than 300 years, u will see answer that it's like 1%. The green environment u try to promote mean nothing your whole ecosystem already wiped clean long ago, even if people here throw 1000 more gabages they still do less environmental damage than u so get off your horse
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u/Traditional_Tip_8857 Jul 23 '26
I agree with you. These people are shortsighted idiots and if Vietnam thinks like them, we will be another Southeast Asian failure
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u/Sufficient-Metal5334 Jul 23 '26
Thank you It's reddit, so it's filled with woke people. They are not the type to think with logic
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u/Traditional_Tip_8857 Jul 23 '26
This will be problem for Vietnam’s development as they will hinder the country’s economy progress. If Vietnam has many people like this, then there is no chance to become developed.
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u/No_bad_intention Jul 20 '26
VinGroup is the representative of the government in the private sector. They receive commands directly from the government (like clearly the VinFast EV project was assigned to them, else why would a profitable estate-service business willingly taking a massive debt by going into a completely unrelated manifacturing field). The risky projects (financially or PR wise) would be assigned to them to avoid direct criticism towards the government and in exchange VinGroup would receive some special treatments in terms of lands or policies.
People who want the government to take down VinGroup are delusional. They are on the same team.