Decoding Vingroup’s Huge Cash Block of 80,000 Billion: Where Does the Money Come From?

The Q3 2025 financial report from Vingroup shows that total cash and bank deposits reached 80.100 trillion VND, a 68% increase compared to the beginning of the year. Cash accounts for 7.4% of total assets, with total assets exceeding 1 trillion VND. Three main factors contributing to the abundant cash flow are: 1) A significant increase in long-term payables, 2) A net borrowing cash flow of nearly 94.400 trillion VND, and 3) Support from Pham Nhat Vuong to VinFast of 23.000 trillion VND. Vingroup has heavily invested in large projects, with net investment cash flow reaching 144.500 trillion VND, mostly for capital contributions and fixed asset acquisitions.