Vietnam’s Vingroup broadens empire with rail, energy expansion

Country's largest conglomerate diversifies into infrastructure while VinFast remains financial burden Construction work at Hung Vuong Stadium in Hanoi, part of Vingroup's broader push into infrastructure and urban development beyond its VinFast electric vehicle business. © Reuters HANOI — Vietnamese conglomerate Vingroup posted a sharp rise in first-half net profit as robust property sales boosted earnings, giving the group greater financial firepower to expand into capital-intensive businesses including urban railways and renewable energy while continuing to fund its loss-making electric vehicle unit.

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