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Companies

Old USSR lives on through thriving Vietnamese conglomerates

Many company founders made connections abroad before starting out in real estate

Conglomerates that grew from property businesses are likely to become a driving force in Vietnam's economy. (Photo by Ken Kobayashi)

TOKYO -- Vietnam's stellar economic performance over the last few years has brought it to the attention of businesses worldwide and has also shone a light on its top performing companies that have become a force for foreign rivals to reckon with.

Among those rising stars is Vingroup, which began life as a property developer that has now grown into Vietnam's largest conglomerate focused on new technologies. It recently launched a smart TV called "Vsmart" that comes loaded with the Google platform, vying for local market share against established foreign players such as Japan's Sony Corp. and South Korea's Samsung Electronics.

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