Vượng was born in 1968 in Hanoi while his paternal family has origin in Ha Tinh province in central Vietnam.  He grew up in Hanoi and graduated from Kim Lien High School in 1985.  In 1987, he entered Hanoi University of Mining and Geology , and had been sent to Russia to study in the Moscow Geological Prospecting Institute . He graduated from this university in 1992.  After graduating, he got married to Phạm Thu Hương then moved to Kharkiv , Ukraine. In 1993, he developed Technocom, a market leader in dehydrated culinary products in Ukraine,  which he sold to Nestle for $150 million in 2009, before returning to Vietnam. Vuong's first projects in Vietnam were Vinpearl Resort Nha Trang, opened in 2003 and Vincom City Towers (later renamed Vincom Ba Trieu) in central Hanoi, opened in 2004. Vincom went public in 2007. It merged with Vinpearl, Vuong's luxury resort business, to form VinGroup in 2007.  VinGroup is headquartered in its Riverside township in Long Biên District in Eastern Hanoi.