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TRANSACTIONS WITH RELATED PARTIES (Tables)

12 Months Ended

Dec. 31, 2023

TRANSACTIONS WITH RELATED PARTIES

Schedule of principal related parties with which the Group had significant transactions

The principal related parties with which the Group had significant transactions during the years ended December 31, 2023, 2022 and 2021 presented are as follows:


Related parties		Relationship with the Company
Pham Nhat Vuong		General Director
Vingroup JSC		Ultimate Parent
VIG		Shareholder
Asian Star Trading & Investment Pte. Ltd. (“Asian Star”)		Shareholder
VinES Energy Solutions JSC (“VinES JSC”)		Entity under common control
Vinbus Ecology Transport Services Limited Liability Company (“Vinbus Ecology LLC”)		Entity under common control
Vincom Retail JSC		Entity under common control
Vincom Retail Operation Company Limited (“Vincom Retail Operation LLC”)		Entity under common control
VIN3S JSC		Entity under common control
Vinhomes Industrial Zone Investment JSC (“VHIZ JSC”)		Entity under common control
Vinhomes JSC		Entity under common control
Vinpearl JSC		Entity under common control
Vinsmart Research and Manufacture JSC (“Vinsmart JSC”)		Entity under common control
VinFast Lithium Battery Pack Limited Liability Company (“VinFast Lithium Battery Pack LLC”)		Associate of Parent Company
SADO JSC		Entity under common control
Times Trading Investment and Development One Member LLC		Entity under common control
Vinbiocare Biotechnology JSC		Entity under common control
Thai Son Construction Investment JSC		Entity under common control
Green and Smart Mobility Joint Stock Company (“GSM JSC”)		Entity under common control
Ecology Development and Investment Joint Stock Company (“Ecology JSC”)		Entity under common control
Suoi Hoa Urban Development and Investment Joint Stock Company (“Suoi Hoa JSC”)		Entity under common control
VinCSS Internet Security Services Joint Stock Company (“VinCSS JSC”)		Entity under common control
VinITIS Transmission Infrastructure and Information Technology Solution (“VinITIS JSC”)		Entity under common control
Vantix Technology Solutions and Services Joint Stock Company		Entity under common control
VinBigData Joint Stock Company (“VinBigData JSC”)		Entity under common control

Schedule of significant transactions with related parties


				For the year ended December 31,
				2021		2022		2023		2023
Related party		Transactions		VND million		VND million		VND million		USD
Vingroup JSC		Borrowings		31,938,007		51,879,878		73,708,579		3,088,434,551
		Borrowings (converted from interest payable)		—		2,625,845		—		—
		Borrowings (converted from the Group’s consideration payable to Vingroup JSC for acquisition of Vingroup Investment)		4,693,380		—		—		—
		Interest expense		1,229,683		2,349,133		3,757,113		157,425,333
		Capital contribution by offsetting against borrowings		4,121,775		45,733,714		—		—
		Capital contribution receipt in cash		2,515,000		6,000,000		—		—
		Capital contribution by offsetting against P -notes		—		25,782,160		—		—
		Capital contribution receipt in cash		—		163,392		—		—
		Issuance of DPS2		—		13,995,359		—		—
		Cash received from selling car vouchers		—		700,150		—		—
		Payable due to the acquisition of VinFast Vietnam by VinFast Auto		25,782,160		—		—		—
		Advance to acquire shares of VinFast Vietnam		235,000		—		—		—
		Information technology service fee		9,238		18,348		23,400		980,474


				For the year ended December 31,
				2021		2022		2023		2023
Related party		Transactions		VND million		VND million		VND million		USD
Asian Star		Borrowings		—		94,920		—		—
		Capital contribution receipt in cash		—		47,569		—		—
		Sponsorship contribution – accounted for as deemed contribution		—		—		1,667,786		69,881,254
VIG		Payable due to the acquisition of VinFast Vietnam by VinFast Auto		24,208,340		—		—		—
		Consideration receivable from disposal of ICE assets which was used to offset against P-notes		—		24,208,340		—		—
		Consideration receivable from disposal of ICE assets which was used to offset against debts related to lease back ICE assets		—		1,148,215		—		—
		Cash received for disposal of ICE assets (inclusive of VAT receivable)		—		2,000,000		—		—
		Capital contribution receipt in cash		5,870,619		106,168		—		—
		Advance to acquire shares of VinFast Vietnam		226,917		—		—		—
Pham Nhat Vuong		Sponsorship contribution - accounted for as deemed contribution		—		350,000		18,980,000		795,273,611
		Capital contribution in cash		247,963		—		—		—
Vinhomes JSC		Cash received from selling car and e-scooter vouchers		3,967,140		5,345,953		937,953		39,300,804
		Sale of smart devices		—		1,933		136,773		5,730,872
		Borrowings		4,270,000		—		—		—
		Reduction of borrowings through offsetting debt		1,921,337		—		—		—
		Service fee		41,627		73,091		68,002		2,849,325
Vinpearl JSC		Borrowing		—		500,000		—		—
		Interest expenses		—		13,956		20,523		859,926
		Interest receivable		244,557		72,353		9,862		413,224
		Purchase of hospitality vouchers		165,303		56,095		160,564		6,727,730
		Purchase of other services		18,811		99,224		96,026		4,023,548
		Advance to buy voucher		—		150,000		—		—
		Hotel service expenses		121,122		99,794		43,044		1,803,570
		Sale of vehicles and spare parts		—		40,249		26,696		1,118,579
		Loan receivables		4,353,000		—		—		—
VinBigData JSC		Purchase of assets, tools		—		43,273		49,385		2,069,262


				For the year ended December 31,
				2021		2022		2023		2023
Related party		Transactions		VND million		VND million		VND million		USD
VinES JSC		Sale of battery parts and finished batteries		—		1,355,548		—		—
		Transfer of battery production facilities		—		5,061,503		85,799		3,595,031
		Processing fee		—		—		892,591		37,400,109
		Purchase of finished battery packs, tools and service		—		5,413,397		1,309,497		54,868,725
		Payment on behalf related to batteries purchase		—		7,448,574		16,813		704,475
		Purchase of raw material and spare parts		—		—		699,999		29,330,386
Vinsmart JSC		Purchase of fixed assets, tools, materials and goods		595,827		3,178,988		25,279		1,059,206
		Loan receivable		1,227,000		—		—		—
		Transfer of investments		634,406		—		—		—
		Purchase of smartphones		930,065		—		—		—
VHIZ JSC		Contractual profit sharing under business investment and cooperation contract		336,000		56,000		—		—
		Interest expense		—		1,202,202		1,574,845		65,986,969
		Payment on behalf		—		377,921		171,750		7,196,430
Vincom Retail JSC		Borrowings		295,000		3,250,000		3,540,000		148,328,166
		Interest expense		5,173		54,547		42,262		1,770,804
Vincom Retail Operation LLC		Rental showrooms and charging stations		76,666		110,077		109,551		4,590,254
		Borrowings		—		4,570,000		6,920,000		289,952,233
		Interest expense		—		55,726		117,031		4,903,670
Suoi Hoa JSC		Borrowings		—		—		685,000		28,701,919
VIN3S JSC		Purchase of information technology services and software		148,586		350,577		23,959		1,003,897
VinFast Lithium Battery Pack LLC		Purchase of assets, materials and tools		189,407		319		5,140		215,369
Vantix JSC		Purchase of services		—		6,435		24,690		1,034,526
Vinbus Ecology LLC		Revenue from sale of electric buses		480,102		847,128		170,427		7,140,996
Ecology JSC		Revenue from sale of electric buses		—		46		254,902		10,680,550
GSM JSC		Revenue from sale of vehicles		—		—		18,969,175		794,820,037
		Other revenues		—		—		9,184		384,815
		Late payment penalty interest		—		—		143,856		6,027,654
VinCSS JSC		Information technology service fee		8,505		73,421		94,196		3,946,870
VinITIS JSC		Information technology service fee		25,917		28,959		60,020		2,514,875
VinBigData JSC		Purchase of assets and tools		—		43,273		49,385		2,069,262


		As of December 31
		2022		2023		2023
		VND million		VND million		USD
Amounts due from related parties
Short-term loans, advance to and receivables from related parties.		1,978,097		3,080,663		129,081,664
Short-term loans (Note 22a)		545,400		—		—
Short-term advance to and receivables (Note 22b)		1,432,697		3,080,663		129,081,664
Long-term loans to and receivables		44,533		47,443		1,987,891
Long-term receivables		44,533		47,443		1,987,891
Total		2,022,630		3,128,106		131,069,555

Amounts due to related parties
Short-term payables to and borrowings from related parties		17,325,317		44,338,043		1,857,791,125
Short-term payables (Note 22b)		16,605,397		6,910,748		289,564,568
Short-term borrowings (Note 22a)		719,920		37,427,295		1,568,226,557
Long-term payables to related parties		21,918,710		18,151,355		760,552,879
Long-term payables (Note 22b)		14,371,365		15,765,658		660,590,715
Long-term borrowings (Note 22a)		7,547,345		2,385,697		99,962,164
Total		39,244,027		62,489,398		2,618,344,004


				Interest rate
Related parties		VND million		per annum		Maturity date
Short-term borrowings from related parties
Vingroup JSC		37,410,790		From 5.7% to 12	%	From February 2024 to December 2024
Vinpearl Australia Pty Ltd.		16,505		7	%	August 2024
Total		37,427,295
Long-term borrowings from a related party
Vingroup JSC		2,385,697		From 14.5% to 15	%	August 2025 and September 2026
Total		2,385,697


				Interest rate
Related parties		VND million		per annum		Maturity date
Short-term loans to a related party
Vinpearl JSC		545,400		9	%	September 2023
Total		545,400
Short-term borrowings from related parties
Vingroup JSC		325,000		9	%	From August 2023 to October 2023
Vinpearl JSC		300,000		9	%	August 2023
Asian Star		94,920		7.5	%	June 2023
Total		719,920
Long-term borrowings from a related party
Vinpearl JSC		7,547,345		9	%	February 2024 and December 2026
Total		7,547,345


Related parties		Transactions		VND million
Short-term advance to and receivables from related parties
GSM JSC		Receivable from sale of vehicles		2,295,142
Ecology JSC		Receivable from sale of electric buses		275,215
VinES JSC		Receivable from disposal of assets		237,184
Vinhomes JSC		Receivable from sale of smart devices		87,735
Vinbus Ecology LLC		Receivable from sale of electric buses		75,010
VHIZ JSC		Payment on behalf and others		36,760
Others		Other advance and short-term receivables		73,617
Total				3,080,663
Short-term payables to related parties
VHIZ JSC		Payable for leaseback transaction and others		1,165,590
Vingroup JSC		Interest payables and others		1,781,633
Vinsmart JSC		Payable for purchasing of raw materials and assets		114,633
Vinhomes JSC		Car vouchers which have not been redeemed		888,801
		Other payables		1,496,378
VinES JSC		Payable for purchasing of goods and services		901,233
Vin3S JSC		Payable for purchasing of assets and services		58,408
Others		Other payables		504,072
Total				6,910,748
Long-term payables to related parties
VHIZ JSC		Payables for leaseback transaction and others		15,296,294
Vingroup JSC		Interest payables		469,364
Total				15,765,658


Related parties		Transactions		VND million
Short-term advance to and receivables from related parties
VinES JSC		Receivable from disposal of assets		1,000,000
VinFast Lithium Battery Pack LLC		Receivable from disposal of assets and selling material		46,270
Vinpearl JSC		Interest receivables		133,626
		Advance for purchase of vouchers		91,944
		Other receivables		24,634
Vingroup JSC		Receivable from providing services and disposal of assets		45,676
VHIZ JSC		Payment on behalf and others		38,413
Others		Other advance and short-term receivables		52,134
Total				1,432,697
Short-term payables to related parties
VHIZ JSC		Payable relating to leaseback transaction and others		919,493
Vingroup JSC		Car vouchers which have not been redeemed		699,390
		Interest payables and others		113,883
Vinsmart JSC		Payable for purchasing of raw materials and assets		2,038,084
Vinhomes JSC		Car vouchers which have not been redeemed		3,520,132
		Other payables		84,801
VinES JSC		Payable relating to purchase of goods and services		8,816,483
Vin3S JSC		Payable relating to purchase of assets and services		104,792
Others		Other payables		308,339
Total				16,605,397
Long-term payables to related parties
VHIZ JSC		Payables relating to leaseback transaction and others		14,274,362
Vingroup JSC		Interest payables		97,003
Total				14,371,365