Vietnamese billionaire Pham Nhat Vuong, sons establish aerospace company

According to the Hanoi Business Registration Office, Vinspace Joint Stock Company was officially founded on November 3 in the Vinhomes Riverside urban area in Phuc Loi Ward.

The company’s charter capital is VND300 billion (US$11.4 million).

Vingroup, whose chairman is Vuong, contributes 19 percent of the capital, equivalent to VND57 billion ($2.2 million), while he holds the largest share at 71 percent.

His two sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, hold a five-percent stake each.

Nguyen Mai Hoa, 56, serves as chairman of the board and legal representative of Vinspace.

Recently, Vuong has been actively establishing new companies in diverse sectors.

At the end of October, V-Film Cinema Development Joint Stock Company was launched with a charter capital of VND10 billion ($380,000).

Vuong contributed VND4.5 billion ($171,060) to establish V-Film, while other family members chipped in with an additional VND4.5 billion.

Vingroup submitted VND1 billion ($37,880), equivalent to 10 percent of the charter capital.

In addition, Vingroup continues to restructure its subsidiaries.

The group on Thursday announced the merger of VinApp and Vinsmart Future to optimize operations.

After the merger, VinApp will cease to exist.

Vingroup’s financial report for the third quarter of 2025 revealed that Vuong disbursed a total of VND23,000 billion ($875.2 million) to support electric vehicle manufacturer VinFast.

The report also disclosed that the value of his share transfers within subsidiaries reached VND39,828 billion ($1.5 billion).

Vingroup reported consolidated net revenue of over VND39.1 trillion ($1.49 billion) in the third quarter, while its post-tax profit reached VND3 trillion ($115 million).

Between January and September, the group recorded over VND169.6 trillion ($6.4 billion) in revenue, a 34-percent year-on-year increase.

Its consolidated after-tax profit stood at nearly VND7.6 trillion ($288 million), nearly doubling that of the same period in 2024, achieving 76 percent of the group’s whole-year profit target.