TFIGlobal
TFIGlobal
TFIPOST English
TFIPOST हिन्दी
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
No Result
View All Result
TFIGlobal
TFIGlobal
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

Vietnam’s bold message to its businesses—Cut off your ties with US

Vedica Singh by Vedica Singh
July 16, 2022
in China, Global Issues, Indo-Pacific
Vietnam’s bold message to its businesses—Cut off your ties with US
Share on FacebookShare on X

In Vietnam, you head towards making economic ties with the US and you will bring your business empire down. Businesses in Vietnam have to play their game very carefully otherwise they will be subjected to sanctions.

A business tycoon in Vietnam, Vingroup Chairman Pham Nhat Vuong is now on the radar of the country’s government and is falling under overseas travel restrictions. It’s hard to answer whether the richest man of Vietnam, chairman of the country’s largest private conglomerate will now be safe? Well, getting subjected to travel restrictions or getting prosecuted or getting your passports withheld is what the prominent business people of Vietnam are accustomed to. Recently, rumours have been spreading like a wildfire in Vietnam that Vuong might soon fall victim to the Vietnamese government’s anti-corruption campaign.

Also Read

US “Dark Eagle” Hypersonic Missiles in Australia for Indo-Pacific deterrence lift Tensions with China

 PM Modi to Visit China for SCO, First since 2020 Border clash: Trump Pushes India into Russia-China Arms? Can Putin succeed in reviving RIC to counter NATO? 

Trump says, ‘We’re Getting Along with China very well’ – Nikki Haley responds, “Don’t give China a free pass while burning ties with a strong ally like India” 

In recent months, Trinh Van Quyet, founder and chairman of FLC group, and Do Anh Dung, founder of Tanh Hoang Minh Group are among those prominent businessmen who faced the Vietnamese government’s ire. This might keep Vuong on his toes as the authorities in Vietnam might soon jump on the bandwagon.

Read More: Russia could arm Vietnam with Nuclear Submarines and that will be catastrophic for China

Vuong- soon to face a crackdown

Some netizens have been speculating that Vuong might soon land into serious trouble as his case follows the same pattern as the previous arrests. However, Lieutenant General To An Xo, the Spokesperson of the Ministry of Public Security (MPS) dismissed the rumours calling it as ‘fake news’. In a similar fashion late in March, Trinh Van Quyet was also prohibited from travelling abroad. A day after the MPS denied rumours that he would be detained, Quyet was taken into custody on suspicion of stock manipulation.

Mr. Pham Nhat Vuong - ENTREPRENEURs
Mr. Pham Nhat Vuong (Source:ENTREPRENEURs)

Since Vuong will soon land into legal troubles this has led to a selloff of Vingroup shares on the stock market. The share price of Vingroup fell 6.64 per cent on July 6, 2022, reaching its lowest level in the previous three years. The majority of the time in the days that followed, its shares moved in the negative.

At the same time, the corporation raised money for its vehicle division in May by selling bonds to foreign investors for US$525 million. Vietnam’s efforts to develop a domestic car sector are currently being led by VinFast, the company’s new automobile division. The indigenous electric vehicle maker VinFast is set to begin production in the US in July of 2024.

Now, this might have left the authorities in Vietnam thunderstruck as expanding and maintaining ties with the US is something that the politicians in Vietnam cannot bear. The US has ever since taken an anti-Vietnam stance on the South-China Sea issue and has sided with China. So, Vietnam cannot take its country’s business players to establish their ground in the rival country- the US. Due to Vingroup’s significant expansion of influence in the US, it might land the company’s founder and chairman into prosecution. Vingroup would be targeted in the crackdown.

Read More: Russia backs Vietnam and foils China’s attempts to co-opt ASEAN

In countries like Vietnam where corruption is widespread, most businesses rely on political connections to prosper. Business owners in Vietnam are aware that the same politicians that brought them up can pull them down in a trice. So, the likelihood of Vuong falling from grace and will be sanctioned by the Vietnam authorities is considerable if he doesn’t play his political game carefully.

Vietnam has a very clear message for all its business tycoons- either cut ties with the US or we will not let you further grow your business empire.

WATCH:

Tags: ChinaPham Nhat VuongVietnam
ShareTweetSend
Vedica Singh

Vedica Singh

Columnist, TFI Media. Seeker. Opinionated. Life long student.

Also Read

Putin To Visit India: Will This be BRICS Joint Response Against Trump Tariff War?

Putin To Visit India: Will This be BRICS Joint Response Against Trump’s Tariff War?

August 7, 2025
Israeli PM Netanyahu has just approved a plan to fully occupy the Gaza Strip

Israeli PM Netanyahu has just approved a plan to fully occupy the Gaza Strip amid Hostage Crisis and the Ceasefire Collapse

August 5, 2025
China’s Next Five-Year Plan and What It Means for the Changing World Order?

China’s Next Five-Year Plan and What It Means for the Changing World Order?

July 31, 2025
UK to Recognize Palestinian State Unless Israel Agrees to Ceasefire, Starmer Warns

While UK and Other European Countries to recognize Palestinian State, PM Netanyahu plans to annex part of Gaza, according to the reports.

July 30, 2025
Thailand and Cambodia Agree to Unconditional Ceasefire After Deadly Border Clashes

NOT TRUMP! Thailand and Cambodia Agree to Unconditional Ceasefire Hosted by Malaysian Prime Minister After Deadly Border Clashes 

July 28, 2025
‘India Out’ to ‘India In’: The Story of a Strategic Turnaround (Photo credit: cscr.pk)

India 1 – China 0: The Strategic Score in Indian Ocean on “Maldives”

July 26, 2025
Youtube Twitter Facebook
TFIGlobalTFIGlobal
Right Arm. Round the World. FAST.
  • About Us
  • Contact Us
  • TFIPOST – English
  • TFIPOST हिन्दी
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy

©2025 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIPOST English
TFIPOST हिन्दी

©2025 - TFI MEDIA PRIVATE LIMITED

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.