PIAGGIO VIET NAM CO.,LTD

PIAGGIO VIET NAM CO., LTD (CÔNG TY TNHH PIAGGIO VIỆT NAM)

PIAGGIO VIET NAM CO., LTD (CÔNG TY TNHH PIAGGIO VIỆT NAM) is a leading foreign direct investment (FDI) enterprise in Vietnam specializing in the manufacturing and assembly of motor scooters, motorcycles, and their spare parts. Established on October 2, 2007, and located in Binh Xuyen Industrial Park, Vinh Phuc Province, the company has significantly contributed to the modernization of the two-wheeler market in Vietnam.

As a subsidiary of the globally renowned Piaggio Group, the company benefits from decades of Italian engineering excellence and a strong reputation across Europe and Asia. Over the years, PIAGGIO VIET NAM CO., LTD has expanded its reach with representative offices in Hanoi and Ho Chi Minh City to better serve the domestic and regional markets.

Legal Information and Tax Code

• Legal Form: Limited Liability Company (LLC)
• Business Registration Code / Tax Code: 2500288968
• Date of Establishment: October 2, 2007
• Charter Capital: USD 7.68 million
• Paid-up Capital (as of December 31, 2023): USD 7.66 million
• Ownership Status: 100% FDI

The company’s registration was issued by the Department of Planning and Investment of Vinh Phuc Province, Vietnam. Its ownership is shared between PIAGGIO & C.S.P.A (Italy – 63.5%) and PIAGGIO VESPA B.V (Netherlands – 36.5%).

Key Personnel of PIAGGIO VIET NAM CO., LTD

The company’s success is driven by an experienced and multicultural management team:

• Mr. Gianluca Fiume – General Director (Italian nationality)
• Ms. Doan Minh Ha – Chief Accountant (Vietnamese nationality)

With a team of 1,000 employees, the company’s leadership emphasizes quality, innovation, and customer satisfaction as the foundation of its long-term growth in Vietnam.

Financial Highlights

Despite a challenging year in 2023, PIAGGIO VIET NAM CO., LTD maintained a strong market position:

• Total Assets: USD 194.91 million (YoY -28.86%)
• Total Sales: USD 433.61 million (YoY -24.68%)
• Profit: USD 62.35 million (YoY -21.01%)
• Owner's Equity: USD 9.80 million (YoY -53.07%)
• Net Worth: USD 108,774
• Working Capital: USD -50.69 million

Although the company experienced declines in several key indicators in 2023, its profitability remains solid. With strong brand recognition and continuous demand for premium scooters like Vespa, PIAGGIO VIET NAM CO., LTD is poised for recovery and future growth.

Business Operations and Product Range

PIAGGIO VIET NAM CO., LTD engages in:

• Manufacturing and assembling scooters and motorcycles
• Sale of motorcycles and parts
• Maintenance and repair services
• Distribution through wholesale and retail channels

This wide range of operations allows the company to maintain a competitive edge and meet the diverse needs of the Vietnamese market.

With its advanced production capabilities, international ownership, and commitment to quality, PIAGGIO VIET NAM CO., LTD continues to be a trusted name in Vietnam’s motorcycle industry and a valuable contributor to the nation’s industrial development.