Vietnam Conglomerate Leaders See Significant Pay Hikes

Vietnam's leading conglomerate Vingroup and its subsidiaries have disclosed details regarding executive compensation in their audited interim financial statements for the first half of 2026. Notably, executive pay at Vinpearl, a tourism and resort subsidiary, has seen substantial increases. According to the reports, Nguyen Thu Hang, Chairwoman of Vinpearl's Board of Directors, received a remuneration of VND 60 million (approximately $1,000) for the first six months of 2026, averaging VND 10 million ($167) per month. She received no remuneration in the same period last year. The total remuneration for Vinpearl's Board of Directors reached nearly VND 2.6 billion ($430,000), a 4.8-fold increase compared to the first half of 2025. In contrast, Ngo Thi Huong, CEO of Vinpearl, was paid over VND 10 billion ($1.67 million) in salary during the same period, averaging nearly VND 1.7 billion ($280,000) per month. Ms. Huong also did not receive a salary in the first half of 2025. The total salary and remuneration for Vinpearl's management board surged to nearly VND 10.3 billion ($1.72 million), a 2.8-fold increase year-on-year. At the parent company, Vingroup, executive compensation also rose. While Chairman Pham Nhat Vuong received no remuneration, Vice Chairwoman Pham Thuy Hang and Pham Thu Huong received approximately VND 3.3 billion ($550,000) and VND 2.8 billion ($470,000) respectively. The total remuneration for Vingroup's Board of Directors reached over VND 11.2 billion ($1.87 million), a 62% increase from the previous year. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup, earned a total of approximately VND 15.75 billion ($2.62 million) in the first half of 2026, comprising VND 12.6 billion ($2.1 million) in salary and bonuses and VND 3.15 billion ($525,000) in remuneration. This represents a 58% increase from the prior year, averaging over VND 2.6 billion ($430,000) per month. At Vinhomes, Chairman Pham Thieu Hoa received VND 6.6 billion ($1.1 million) in remuneration, a 29% increase from the same period last year. The total remuneration for Vinhomes' Board of Directors was about VND 12.2 billion ($2.03 million), up 17%. Nguyen Thu Hang, CEO and Board Member of Vinhomes, received a total of nearly VND 11.1 billion ($1.85 million) in salary and remuneration. At Vincom Retail, CEO Pham Thi Thu Hien reported total income of nearly VND 6.2 billion ($1.03 million), a 24% increase year-on-year. Chairwoman Tran Mai Hoa received over VND 1.6 billion ($270,000) in remuneration. Ms. Hoa left her position on July 28 and returned to assume the role of CEO, with Tran Le Phuong subsequently becoming Chairwoman of Vincom Retail. Legal representative and Chairman of V-Film is Dang Thanh Thuy, former CEO of Vinpearl. The CEO of V-Film is Tran Duc Viet, also known as the YouTuber JVevermind. These increases in executive pay are seen as reflecting Vietnam's economic growth and the growing importance of leadership within major corporations. However, they may also spark discussions regarding the disparity with average citizen incomes. Source: The Saigon Times