Vietnamese billionaire Pham Nhat Vuong has invested VND213 billion (US$8.1 million) to launch a new aerospace firm called VinSpace.
It will operate in six sectors, including aircraft, spacecraft and telecommunications satellites manufacturing and air transport, according to the firm’s registration document.
It has a charter capital of VND300 billion (US$11.4 million), of which Vuong owns 71%.
His conglomerate, VinGroup, holds a 19% stake and the rest is held by his sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang.
Anh and Hoang also own shares worth trillions of dong in several VinGroup subsidiaries like energy firm VinEnergo, transportation infrastructure developer VinSpeed and technology company VinRobotics.
 |
|
Vingroup chairman Pham Nhat Vuong seen at the company’s general meeting in April 2025. Photo courtesy of the company |
Vingroup had planned to enter the aviation sector in 2019 with carrier VinPearl Air but scrapped the project in 2020 to focus on the tech industry.
Vuong, who chairs VinGroup, and his family ventured into the steel and entertainment industries for the first time in October with VinMetal and V-Film. They also started a new elderly care venture called Vin New Horizon the same month.
At VinGroup’s annual general meeting in April, when asked by shareholders which sectors the company planned to expand into next, Vuong said: “The group will venture into fields that look promising while I will personally invest in any [sector] that seems risky.”
Vuong is currently the richest man in Vietnam, according to Forbes, which estimates his net worth at $19 billion.
