68 organizations and individuals were sued and reported as account holders of information pages and personal pages with distorted behavior and false information about Vingroup; fabricated about the Group Chairman - Mr. Pham Nhat Vuong and a number of other senior leaders of the group on social networking platforms such as TikTok, Facebook, YouTube...
The false information focuses on 4 main topics, including: corporate financial situation; product quality and origin; legal issues for products and personal information of leaders. Specifically:
Providing false information about Vingroup's financial situation: social media accounts reported that the group was about to go bankrupt due to a debt of VND800,000 billion. In fact, according to Vingroup's consolidated financial statements publicly posted on the group's website, the total outstanding loan amount is only about 283,000 billion VND, the equity loan coefficient is only about 1.8 times. This is a very safe index for businesses according to international and Vietnamese practices. The remaining "must-payments" are mostly prepaid revenue from customers/partners and other payables and receivables arising in normal business activities like any business, and are completely consistent with the scale of the group.
Disguised quality, distorted the origin of Vingroup's products such as social media accounts accusing cars and electric motorbikes manufactured by VinFast Company of being Chinese goods "squattered" Vietnamese goods. In fact, VinFast Company has mastered the production chain from research, design to product production. Most of the phases are being implemented in Vietnam with the localization rate reaching 60% at present, aiming to increase to 80% in the future.
Information about Vingroup leaders, especially Group Chairman Pham Nhat Vuong, as well as false information about Vingroup employees submitting mass resignation applications.
Tucking up legal issues for Vingroup products; fabricating political issues and State policies to lead public opinion, alluding to corporations.
According to Vietnamese law, the above acts violated the provisions of the 2018 Law on Cyber Security and the 2015 Penal Code and the civil rights of related organizations and individuals. On the international level, the dissemination of false information, infringing on the legitimate rights and interests of organizations and individuals are also severely punished by civilized countries.
We are living in a civilized and law-respecting society, we cannot just shut our heads to allow some people to arbitrarily violate the law, fabricate, distort, lead the public to untrue things, and undermine the reputation and dignity of any organization or individual they want for illegal purposes. Therefore, we have filed a lawsuit and reported to the authorities not only to protect Vingroup's interests but also to fight for the truth, for a better life for everyone. I believe that all Vietnamese and international people with good conscience support this work - Mr. Nguyen Viet Quang - Vice Chairman and General Director of Vingroup Corporation affirmed.
Currently, Vingroup has collected sufficient information, drawn up records of the above 68 subjects' violations as evidence for authentication, and conducted civil lawsuits or reported to competent authorities in accordance with legal procedures in Vietnam.
Vingroup is also working with domestic and international lawyers to file a lawsuit in accordance with the laws of the relevant country. At the same time, Vingroup sent a notice to the foreign Embassy in Vietnam and the Vietnamese Embassy in countries where the citizen is the owner of the violating account in residence to protect the legitimate interests of the business.
