Vingroup acquires VinFast Engineering Australia

Vingroup has approved the acquisition of 100% of the charter capital of VinFast Engineering Australia Pty Ltd from VinFast Vietnam. Following this transfer, the Australian entity will move from the VinFast Vietnam structure to report directly to the parent group, Vingroup.

The Australian entity, which currently has no significant business operations, is intended to serve as a centralized hub for market research and development in Australia, focusing on Vingroup’s core sectors including technology and real estate.

In a related financial move, Vingroup’s Board of Directors approved the use of group assets as collateral to guarantee the financial obligations of VinFast Vietnam. These obligations pertain to loans from foreign banks guaranteed by SACE S.p.A., an export credit agency under the Italian Ministry of Economy and Finance. Vingroup has also reaffirmed its commitment to providing financial support to its subsidiaries to facilitate investment, production, and business activities.