Vietnam’s billionaire Pham Nhat Vuong sets up multifunctional robotics research company
Monday, January 13, 2025, 14:27 GMT+7
Vietnam’s leading private conglomerate Vingroup, whose chairman is Pham Nhat Vuong, the country’s wealthiest individual, has approved the establishment of VinMotion, which will specialize in the research, development, and application of multifunctional robotics.
The company, with a charter capital of VND1 trillion (US$39.4 million), is headquartered in Long Bien District, Hanoi.
Vingroup holds a 51-percent stake in VinMotion.
At the end of November last year, Vingroup announced the establishment of VinRobotics, a robotics firm with a charter capital of VND1 trillion.
Vingroup owns a 51-percent stake in VinRobotics, while 39 percent of the total shares are held by the Vingroup chairman.
The remaining 10 percent is split evenly between his sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang.
Ngo Quoc Hung was named CEO of the firm.
VinRobotics is dedicated to the research, development, and transfer of advanced technologies, particularly in automation, industrial robotics, and artificial intelligence.
Since the start of 2024, Vingroup has been setting up new entities to fuel its hi-tech and industrial ecosystem.
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