March 5, 2025 – According to a report by Reuters, Vietnamese conglomerate Vingroup has announced today that it has signed a memorandum of understanding (MoU) with private equity fund JTA Investment Qatar, outlining a planned investment of at least $1 billion (approximately 7.296 billion Chinese yuan) into its electric vehicle manufacturer, VinFast.
VinFast, which is listed on the Nasdaq stock exchange, is currently expanding its domestic market presence, capitalizing on the growing demand from Vietnam’s population of nearly 100 million. However, the company’s efforts to break into overseas markets have faced challenges, as it has yet to attract a significant number of foreign buyers.
Vingroup revealed that the partnership with the Qatari investor could extend beyond the electric vehicle business, potentially involving its hotel and resort brand, Vinpearl. “Based on the MoU, both parties will discuss future collaboration models to achieve mutual success,” the company stated.
Headquartered in Doha and established in 2010, JTA Investment Qatar specializes in investments in the energy, education, tourism, and lifestyle sectors. According to its official website, the fund previously partnered with Vietnam’s T&T Group to invest $1.3 billion in a sports complex in Hanoi last year.
VinFast, which went public on Nasdaq in August 2023, had indicated that it was in discussions with multiple strategic investors, but no deals have been finalized as of yet.
In October of last year, VinFast also signed an MoU with a UAE-based investor group led by Emirates Driving Company in Abu Dhabi, outlining a planned investment of at least $1 billion. However, this transaction has not been finalized either. Vingroup stated today that the company is “actively maintaining negotiations with potential partners.”
According to the latest filings with US regulators, Vingroup founder Pham Nhat Vuong holds over 97% of VinFast’s shares through his companies. As of October last year, he and his companies had provided VinFast with 13.5billioninloansandsubsidies,andinNovember,theycommittedtoprovidinganadditional3.5 billion in funding.
