VinEnergo, an energy company under Vingroup of billionaire Pham Nhat Vuong, has increased its capital from 10 trillion to 28.335 trillion VND as of October 23, 2025. Vingroup retains 19% of shares, while Vuong’s sons each hold 5%. Notably, the company welcomed a new shareholder, Dynamic Invest Group Limited from Hong Kong, holding 5% equivalent to 1.416 trillion VND. VinEnergo has expanded into electricity transmission and distribution, planning to retail electricity in urban areas to meet growing demand, where EVN currently dominates the electricity market. The company proposes to add regulations allowing retail electricity units to participate in a competitive market to meet potential demand in residential areas. Another notable project of Vingroup in the energy sector is the Hai Phong LNG Thermal Power Plant, expected to be the largest in Vietnam with an investment of over 178 trillion VND. VinEnergo has officially registered for electricity retail activities.
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