Shareholders question a 1,000-year vision; Pham Nhat Vuong cites Bình Ngô Đại Cáo at Vingroup AGM

At the 2026 annual general meeting of Vingroup (VIC), held this morning, the discussion segment was highly anticipated. According to the plan, the discussion would last 20 minutes, but in reality it extended to over 40 minutes due to a continual stream of questions, creating a lively atmosphere at the meeting. In addition to questions about business performance and targets for 2026, shareholders expressed thanks to the leadership for VIC's rising share price. Notably, a young shareholder asked: 'What does a normal working day for the chairman look like? Please share your view on how a wealthy country is made and what Vietnam lacks to become wealthier.' The question drew laughter from the hall. The chairman smiled and said: 'I’m just like everyone else. I wake up, exercise, have breakfast, go to work, finish, go home and eat. I don’t work after hours unless something urgent arises.' He added that, like other leaders, he must consider and think through every issue. 'Even at midnight if an idea comes to me, I write it down somewhere so I don’t forget. My day is basically like this; nothing unusual.' Regarding what defines a wealthy country, he argued that first there must be money, people must have enough to eat, wear, and enjoy... 'Second, more important than the first is culture; people must interact civilly. People must have depth in culture. This is an area the Party and the State are paying close attention to. Culture is one of the core, enduring elements. Just as with the scale of a business, if there is culture, the enterprise will endure and grow. If there is excellent culture, even better.' However, he said: 'Wealth cannot be measured; in my view, a country is rich if it has money, culture, and most importantly, its people are satisfied with their lives.' 'We will strive to contribute as much as possible.' During the discussion, another shareholder asked: 'Vingroup could map out the entire territory of Vietnam, residential areas and industrial zones, once and for all, with a 1,000-year vision. In 10–20 years, railways could run at 1,000 km/h, not requiring repeated expropriations and paying compensation.' In response, Pham Nhat Vuong candidly replied: 'You just reminded me of Bình Ngô Đại Cáo by Nguyen Trai: "Fight one battle, and it is over; fight two battles, the birds and beasts scatter." But that is not our scope. We are a business, while the scope to organize and drive the country is the government's, the country's. We can only participate to the best of our ability and contribute.' In 2025, Vingroup reported revenue of 332,808 billion dong, up 76% from the previous year. This was the highest level since its establishment. Net profit after tax reached 11,146 billion dong, up 111% versus 2024, exceeding the plan approved by the AGM. Although business performance was positive, all profits were retained to support production and business activities; no dividends were paid in 2025. At the AGM, reports indicated that in 2026, Vingroup targets revenue of 485,000 billion dong, up 46% from 2025, and after-tax profit of 35,000 billion dong, three times the same period last year. The group said it will continue to strengthen the three pillars: Technology–Industry, Commercial Services, and Social Welfare; while expanding into three new areas: Infrastructure, Green Energy, and Culture."