Vingroup’s stock (VIC) of billionaire Pham Nhat Vuong has surged by 470% this year, reaching 229,700 VND/share as of November 21, leading to a market capitalization of nearly 885 trillion VND. This unprecedented increase sets a record in Vietnam’s stock market history. Vuong’s net worth has also increased substantially, currently estimated at over 500 trillion VND (21 billion USD) by Forbes, ranking him 109th in the world. Vingroup plans to issue 3.9 billion bonus shares, doubling its charter capital to over 77 trillion VND. The company is executing numerous major projects across the nation, including wind energy, high-tech steel, and urban developments. Notably, the Halong Green Urban Complex project in Quang Ninh, with total investment exceeding 456.6 trillion VND, is being accelerated. Vingroup continues to hold the number one position on the Vietnamese stock exchange, surpassing major banks such as Vietcombank and BIDV.
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