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Whereas VinFast has signed a deal to construct a $4 billion electrical SUV facility in Moncure, it will not come together with the reside, work, play ethos its guardian firm has adopted in Vietnam.
NEWS COVERAGE YOU CAN COUNT ON. >> ONLY ON WRAL. WE’RE TAKING YOU INTO A NEW CITY TAKING SHAPE IN THE SUBURBS OF VIETNAM’S CAPITAL. IT’S BEING BILLED BY THEN FAST PARENT COMPANY, THEN GROUP THIS LIVE WORK PLAY COMMUNITY HAS THE FEEL OF A TROPICAL VERSION OF CHATHAM PARK ON STEROIDS. WRL’S MATT TALHELM IS LIVE IN VIETNAM TO SHOW US HOW VIN GROUP IS TRANSFORMING THAT COUNTRY MET. >> YEAH, GERALD AND LENA COUPLE TIMES DURING THIS TRIP WE’VE HEARD IT DESCRIBED AS THEY ARE CAPITALISTS CONTROLLED BY COMMUNISTS. NOW WE’VE MADE OUR JOURNEY HERE A 2 HOUR FLIGHT TO THE SOUTHERN VIETNAM. THIS IS THE SOUTH CHINA SEA. TAKE A MOMENT. AND JUST I MEAN, 3, THEN THE BPD OF ALL OF THIS WE ARE HERE AT BEEN PEARLS RESORT IN THE TRUNK. THIS IS ACTUALLY. >> THE FIRST ONE OF THE RESORTS THAT THEN GROUP FOUNDED THIS COMPANY IS GROWING. IT IS NOW A BUSINESS THAT VALUES ITS SELF WORTH MORE THAN 9 IN DOLLARS. >> THE PEN NAME IS EVERYWHERE IN VIETNAM, BEEN PEARL ON A SEASIDE MOUTH AND THEN HOMES ON SUBURBAN REAL ESTATE AND OF COURSE, BEEN FAST ON VEHICLES. BUT WHAT DOES IT EVEN MEAN? THE FIRST THING I THOUGHT WAS I BETTER GET ON GOOGLE AND FIGURE OUT WHO THIS IS. A CHATHAM COUNTY LEADERS TELL US THEY HAD QUESTIONS ABOUT THE YOUNG CAR COMPANY WHILE STABLE. ARE THEY HOW CONFIDENT ARE WE THAT THEY’RE GOING TO GO THROUGH WITH THIS AS THEY NEGOTIATE A DEAL TO GET THE INVEST TO BUILD THE FIRST FACTORY OUTSIDE VIETNAM IN NORTH CAROLINA. AND WE SURELY DID OUR SHARE OF VETTING. >> OF THE COMPANY VINFAST IS PART OF VIETNAM’S LARGEST CONGLOMERATE BEEN GROUP ITS BUSINESS VENTURES INCLUDE HOMES, RESORTS, SHOPPING MALLS, HOSPITALS, SCHOOLS AND THE UNIVERSITY. >> THEN GROUP CHAIRMAN, I’M NOT GONG, BUILT HIS FORTUNE AROUND AN INSTANT NOODLE COMPANY. IN THE 90’S. HE’S NOW THE WEALTHIEST BILLIONAIRE IN VIETNAM. WHEN SOME WE GOT TO SEE THE BEEN GROUP ECOSYSTEM AS THEY CALL THIS COMMUNITY A forty five STORY, GLASS OFFICE BUILDING AND ROWS OF APARTMENT TOWERS RISE ABOVE FORMER RICE FIELDS TO CREATE THE SKYLINE OF VIN HOMES. OCEAN PARK. IT’S JUST 15 MINUTES OUTSIDE THE CONGESTED CENTER OF THE WAY. THE GOVERNMENT IS TRYING TO MOVE PEOPLE OUT OF THE OVERCROWDED OLD CITY AND THEN GROUP IS CAPITALIZING ON THAT IN THIS DEVELOPMENT RIGHT NOW, 50,000 PEOPLE LIVE HERE IN APARTMENTS WITH RENTS HAVE THE PRICE OF CENTRAL ILLINOIS OR IN LUXURY BILLIS SURROUNDING MANMADE RIVERS, LAKES AND BEACHES. THERE’S OF IN SCHOOL, THE LARGEST PRIVATE EDUCATION SYSTEM IN VIETNAM THEN COME THE MALL ONE OF MORE THAN 80 ACROSS THE COUNTRY. AND THEN UNIVERSITY. THE UNIVERSITY’S PRESIDENT AND THEN GROUP BASED CHAIRWOMAN WELCOMED US FOR A CAMPUS TOUR. STUDENTS HERE ARE WORKING TOWARD DEGREES IN A PARTNERSHIP WITH CORNELL AND UNIVERSITY OF PENNSYLVANIA. ALL OF THIS WAS BILLED IN THE LAST 4 YEARS, ALMOST AS QUICKLY AS VINFAST WENT FROM A NEWLY FORMED COMPANY CREATING ELECTRIC CARS WILL SOON ROLL OFF THE ASSEMBLY LINE IN NORTH NOW DON’T EXPECT TO SEE BEEN HOMES OR THEN PRO RESORT POPPING UP ANYWHERE IN THE U.S. ACTUALLY ASKED A REPRESENTATIVE FROM THE INVESTOR RELATIONS FOR THE COMPANY. >> DO YOU PLAN TO DO ANYTHING LIKE THIS IN THE U.S.? AND THEY SAID NO, THE ONLY BRAND THEY’RE TAKING GLOBAL RIGHT NOW ARE THE BEEN FAST CARS. AND SPEAKING OF THOSE COMING UP TOMORROW ON WRAL, IT IS OUR LAST DAY HERE. EXPLORING VINFAST IN VIETNAM. WE WILL GET TO TAKE A TEST DRIVE OF THE V F 8. IT’S ONE OF THOSE ELECTRIC SUVS THAT WILL BE PRODUCED IN CHATHAM COUNTY. THEY ACTUALLY CREATED A TRACK FOR US FIRST ONES TO GET TO DRIVE ON THAT TRACK. WE’LL TAKE YOU ALONG FOR THAT RIDE. TOMORROW. WATCH THAT SPEED LIMIT AT I MEAN, YOU COULD NOT BE IN A MORE GLORIOUS LOCATION. WE’RE NOT GOING TO GET ANY TROUBLE ON THE >> TEMPERATURE IN THE MID 70’S THERE IN THE SOUTH VIETNAM RIGHT NOW. SO YOU ARE LIVING LARGE, MY FRIEND. >> MATT TALHELM IN SOUTHERN VIETNAM. THANK YOU. MET FOR THE
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