The robot placed the car's body in the Vinfast factory in Haiphong.
NHAC NGUYEN/AFP via Getty Images
Billionaire Pham Nhat Vuong's private Vingroup talks with JTA Investment Qatar, potentially investing at least $1 billion in unprofitable Vinfast Auto.
In a statement, Vingroup said in a statement that Katari also explored possible investments in Vinpearl's assets in the hotel business unit of the conglomerate, under the memorandum of understanding signed on Tuesday.
“This collaboration will provide Vingroup and its subsidiaries with a huge opportunity to drive Vietnam's technology, infrastructure and sustainable economic development while laying the foundation for international expansion,” said Vingroup Vice Chairman Le Thu Thuy.
In addition to its equity investment in Vinfast, the Katari Fund is also exploring a strategic partner to support the global expansion of electric vehicles and technology enhancements, Vingroup said.
Leveraging Vingroup's ecosystem and local expertise and JTA's experience and resources to invest in Qatar, Le expects “successful projects to promote sustainable development, technological innovation in key areas such as electric vehicles and tourism.
VINPEARL said Vinpearl and JTA investments are actively considering expanding and enhancing Vinpearl's real estate development, focusing on the high-growth tourism market.
“We are delighted to contribute to the development of Vingroup’s strategic goals and promising business areas,” said Dr. Amir Ali Salemi, Founder and CEO of JTA Investment Qatar. “This collaboration will generate mutually beneficial business opportunities and facilitate the expansion of Vingroup’s strategy to international markets.”
Pham has a real-time net worth of $5.3 billion, and he made his own fortune from a flash noodle business that he started in Ukraine in 1993. He sold his business to Nestle in 2010, started Vingroup using the proceeds, and has since grown into a business with the interests of real estate, healthcare, education, education, automotive and technology.
