Vingroup Chairman Pham Nhat Vuong

The information was disclosed in VinSpace JSC's business registration filing. According to the document, VinSpace was founded on November 3, with a charter capital of VND300 billion ($12 million). The company operates in six business areas, most notably aircraft manufacturing, spacecraft and satellite production, and air cargo transportation.

Pham Nhat Vuong, chairman of Vingroup, holds 71 ​​per cent of VinSpace's capital. Vingroup is the second-largest shareholder, owning 19 per cent of the company. The remaining shares belong to Pham Nhat Quan Anh and Pham Nhat Minh Hoang, two sons of billionaire Vuong.

In addition to investing in VinSpace, Quan Anh and Minh Hoang also hold shares in several companies within the Vingroup ecosystem, such as VinEnergo, VinSpeed, and VinRobotics. The total value of their holdings could reach hundreds of millions of dollars.

Before entering the aerospace sector, Vingroup had previously ventured into aviation with the VinPearl Air project in 2019, but withdrew from the field in 2020.

In October, Pham Nhat Vuong and his family established several other companies in various industries, including VinMetal (steel), Vin New Horizon (elderly care), and V-Film (entertainment). Among these, steel and entertainment are new sectors for Vingroup's investments.

At Vingroup's AGM in April, shareholders asked Vuong which industries he and the group would expand into next, besides their core businesses. Vuong replied, “Vingroup will invest in whatever sectors are promising, and I'll take on the tough ones.”