Mr. Pham Nhat Vuong Establishes New Company, “Bombshell” in the Sector Where Vietnam Ranks Top 12 in the World, Leading in ASEAN

On October 6, 2025, Vingroup announced the establishment of VinMetal Joint Stock Company in the metallurgy industry, with an investment of 10 trillion VND. The company aims to produce high-tech steel in Vung Ang, Ha Tinh, with a target capacity of 5 million tons per year in phase 1. VinMetal will supply steel for Vingroup’s internal projects like Vinhomes and VinFast, while also supporting large infrastructure projects such as the North-South high-speed railway. The company aims to produce green steel, employing emissions reduction technology and renewable energy. Vietnam’s crude steel production is projected to exceed 21 million tons in 2024, reaffirming its position among the top 12 in the world.