Vingroup reports and sues 68 organizations and individuals.
On September 8th, Vingroup Corporation initiated civil litigation, reported the matter to relevant authorities, and sent documents to embassies regarding 68 organizations and individuals, both domestic and international, who disseminated false information about the corporation on the internet.
68 organizations and individuals have been sued and reported as account holders of websites and personal pages that distorted and spread false information about Vingroup; fabricating stories about the group's chairman, Mr. Pham Nhat Vuong, and other senior leaders on social media platforms such as TikTok, Facebook, and YouTube.
False information includes:
Misinformation about Vingroup's financial situation: Social media accounts spread information claiming the group was on the verge of bankruptcy due to a debt of 800,000 billion VND. In reality, according to Vingroup's consolidated financial statements publicly available on the group's website, total debt is approximately 283,000 billion VND, with a debt-to-equity ratio of only about 1.8 times. This is a normal ratio for businesses according to international and Vietnamese practices.
The remaining "payables" largely consist of prepaid revenue received from customers/partners and other payables and receivables arising from normal business operations, as is the case with any business, and are entirely consistent with the scale of the corporation.
Social media accounts are slandering the quality and distorting the origin of Vingroup's products, falsely claiming that cars and electric motorcycles produced by VinFast are Chinese goods disguised as Vietnamese products. In reality, VinFast has mastered the entire production chain, from research and design to manufacturing. Most processes are carried out in Vietnam, with a current localization rate of 60%, aiming to increase to 80% in the future.
Fabricating information about the group's leaders, especially the Chairman Pham Nhat Vuong, as well as spreading false information about Vingroup employees submitting mass resignations.
Distorting legal issues regarding Vingroup's products; fabricating political issues and state policies to manipulate public opinion, implying a connection to the corporation.
These actions violated the provisions of the 2018 Cybersecurity Law and the 2015 Criminal Law, as well as the civil rights of the organizations and individuals involved.
“We live in a civilized society that upholds the rule of law. We cannot simply bow our heads in silence while some individuals arbitrarily violate the law, fabricate lies, distort the truth, mislead public opinion, and undermine the reputation and dignity of any organization or individual they wish for illegal motives. Therefore, we are filing lawsuits and reporting to the authorities not only to protect Vingroup's interests but also to fight for the truth and for a better life,” affirmed Mr. Nguyen Viet Quang, Vice Chairman and General Director of Vingroup.
Currently, Vingroup has collected sufficient information and documented the infringing actions of the 68 individuals mentioned above as authentic evidence, and is proceeding with civil lawsuits or reporting to the competent authorities.
Vingroup also sent notifications to foreign embassies in Vietnam and Vietnamese embassies in countries where the account holders who committed the violations reside, in order to protect the legitimate interests of the business.
