Portrait of a business applying to invest in 4 big projects, sponsoring USD 1.2 million for Dak Nong to hire a provincial planning consultant

Viet Phuong Group applies to invest in 4 big projects in Dak Nong, sponsoring USD 1.2 million to hire a provincial planning consultant

According to the portal of Dak Nong province, Viet Phuong Investment Group Joint Stock Company (Viet Phuong Group) has reported on 4 projects in the process of surveying, applying for investment policy in Dak Nong.

That is, Dak Glong Bauxite – Aluminum – Aluminum complex project; wind power projects in Tuy Duc, Dak Song and Dak Glong districts; Nhan Co 2 Industrial Park; complex of hotels and resort villas in the city. Gia Nghia.

In order for the projects to be implemented smoothly, the Company proposed to Dak Nong province many problems. Accordingly, the Company wants the province to agree for the Company to make an application for investment policy; implementing investment procedures for projects on exploiting and processing bauxite – Alumin – aluminum according to regulations.

The company needs the province’s support in the process of site clearance for Nhan Co 2 industrial park. The People’s Committee of Dak Nong province will consider and soon submit a document to the Ministry of Industry and Trade to add 6 wind power projects to the planning for the Company to invest in. .

On the same day, Viet Phuong Investment Group Joint Stock Company also sponsored Dak Nong province $1.2 million to hire a foreign consultant to advise on strategic planning for the province in the 2021-2030 period, with a vision to 2050. .

Recently, Viet Phuong Investment Group Joint Stock Company also expressed its desire to invest in Cristobalite material factory; Factory for processing silicon sand, high quality low iron silicon oxide powder; a dedicated port and logistics area… in Quang Nam province with an estimated total investment of more than 3,000 billion VND.

Portrait of Viet Phuong Group

According to research, Viet Phuong Investment Group Joint Stock Company (VPG), formerly known as Viet Phuong Trading, Investment and Tourism Company Limited, was established on January 5, 1996.

At the time of establishment, the main business lines of the enterprise were Trading and Services; Transporting public passengers by Taxi; Exclusive distributor of stainless steel products of NEUMO Group (Federal Republic of Germany).

In 2001 – 2006, Viet Phuong Group invested abroad and entered the manufacturing field; Invest in a wood processing factory in Kham-Muon Province, Lao PDR; Participating in investment in the field of automobile manufacturing and assembly.

Also during this period, Viet Phuong Group promoted investment in the field of Real Estate.

In March 2007, Viet Phuong changed its model to a Joint Stock Company.

In the period 2010 – 2015, Viet Phuong Group encroached on banking; Construction and Energy. Currently, Viet Phuong invests and becomes the largest shareholder of Viet A Commercial Joint Stock Bank. According to VietABank’s 2021 governance report, Viet Phuong Investment Group Joint Stock Company owns over 54.3 million VietABank shares, equivalent to 12.21% of the bank’s charter capital.

From 2016 to 2020, Viet Phuong Group promotes mining (such as Silica mining in Thua Thien Hue province) and participates in Medical Pharmaceuticals and becomes a strategic shareholder of Vinapharm.

With 20,000 customers using products and services and over 369 projects successfully implemented, the annual revenue of Viet Phuong Group is over 1,000 billion VND.

Regarding the scale of charter capital, according to the change registration of the enterprise, in December 2019, the charter of the enterprise increased from 1,400 billion to 2,000 billion, 1 year later (December 2020), Viet Phuong Group continued to increase capital. from 2,000 billion to 3,000 billion. Thus, after only 2 years, the charter capital of Viet Phuong Group has increased by 114%.

By the end of 2020, the legal representative and General Director of Viet Phuong Group is Ms. Phuong Minh Hue, born in 1971. (Ms. Phuong Minh Hue was elected as a member of the Board of Directors of VietABank from June 20, 2020 but as of April 24, 2021, Ms. Hue is no longer a member of the Board of Directors of the bank).

The “boss” of Viet Phuong Group is Mr. Phuong Huu Viet, born in 1964, from Luong Tai, Bac Ninh. He has a doctorate in economics and has nearly 30 years of experience in economic management.

Mr. Viet also held the position of Chairman of the Board of Directors of VietABank from August 2011 to September 2021, before resigning.

At the time Mr. Viet was appointed Chairman of VietABank, he was also the Chairman of Viet Phuong Group; Vice Chairman of Vietnam Business Association – Russia; Vice Chairman of the Vietnam – Ukraine Friendship Association and member of the Central Committee of the Vietnam Fatherland Front. In addition, Mr. Phuong Huu Viet is also a member of the X, XI, XII and XIII National Assembly.

Until now, although he is no longer the Chairman of VietABank, Mr. Phuong Huu Viet is still a member of the Board of Directors of this bank.

According to VietABank’s 2021 governance report, Mr. Phuong Huu Viet owns more than 10.2 million VAB shares, equivalent to 4.54%.

Thus, Mr. Phuong Huu Viet and Viet Phuong Group hold up to 16.75% of VietABank’s charter capital.

On the stock market, VietABank’s VAB shares are currently trading around 11,600 VND/share. At this market price, nearly 74.5 million shares owned by Mr. Viet and Viet Phuong Group are worth nearly VND 865 billion.