HÀ NỘI — Việt Nam’s leading conglomerate Vingroup on Monday filed lawsuits and reported with authorities and notified embassies against 68 individuals and organisations for spreading false information and misleading content about the group on social media platforms.

The move is not only to protect its own lawful rights but also to uphold social interests and integrity of the law, the group said in a statement.

The legal actions target account holders on social media platforms including Tiktok, Facebook and YouTube whose allegedly distorted facts about Vingroup and its founder and chairman Phạm Nhật Vượng as well as other senior executives.

The false information focuses mainly on the group’s financial situation, product quality and origin, product legal issues and personal information of the leadership.

Specifically, some accounts claimed the group was on verge of bankruptcy with debs amounting to VNĐ800 trillion (US$30.3 billion). In fact, Vingroup’s published financial statements showed that total borrowings at around VNĐ283 trillion with a debt-to-equity ratio of 1.8 – considered safe by international and Vietnamese standards.

The remaining payables are mostly prepaid revenue from customers and partners and other payables and receivables rising from normal business activities like any other company, which are completely consistent with the scale of the group.

Some accounts accused VinFast cars and e-scooters of being Chinese goods disguised as made-in-Vietnam. The fact is, Vingroup said, the group has mastered the production chain from research, design to manufacturing with most of stages carried out in Việt Nam and a local procurement rate of 60 per cent at the moment which will be increased to 80 per cent in the future.

The lawsuits also target accounts spreading false information about Vingroup’s leaders, especially Chairman Phạm Nhật Vượng, and the mass resignations of Vingroup’s employees as well as distortions about the product legal issues, political issues and State policies implying that they are related to the group to mislead the public.

Under the established law of Việt Nam, such actions violate the Law on Cybersecurity 2018, the Criminal Code 2015 and other civil rights of related individuals and organisations. Vingroup also said that spreading false information and infringing on legitimate rights is also punishable under international legal norms.

Vingroup said it has gathered sufficient evidence, notarised the infringements and is pursuing civil lawsuits and reports to authorities following the Việt Nam’s established law. Vingroup is also working with both domestic and international legal teams to file lawsuits in accordance with the laws of the relevant countries.

At the same time, the group has sent notices to foreign embassies in Việt Nam and Vietnamese embassies in foreign countries where those own alleged violating accounts are residing to protect legitimate interests of the business.

Vingroup is the largest private conglomerate, focusing on five core pillars: industrials and technology, real estate and services, infrastructure, green energy and social enterprises. — VNS