What’s happening with Vingroup stocks?

Vingroup stocks (ticker: VIC) owned by billionaire Pham Nhat Vuong have risen sharply, increasing by more than 40% since early March, boosting its market capitalization to over 220 trillion VND (about 10 billion USD). This resurgence has restored Vingroup to the position of the leading private enterprise on the Vietnamese stock exchange, only behind large banks. However, pressure from investments in VinFast and challenges in the real estate market have hindered Vingroup’s previous high position. The recent comeback brings hope to shareholders, especially with Vinpearl preparing to list on the stock exchange. Vingroup has also received good news with the approval of a beach reclamation project in Can Gio with a total investment of over 64.425 trillion VND. In technology, VinFast is nearing completion of its electric vehicle manufacturing plant in India and is preparing for component imports, aiming to produce about 200,000 vehicles globally by 2025.