The announcement was made on February 18 on the page of Saigon Universe Joint Stock Company (Unicorp), the organisers of Miss Universe Vietnam pageant.

The decision came after Thai business mogul Anne Jakrajutatip became the new owner of the Miss Universe organisation. The new business orientations of the Miss Universe organisation are no longer consistent with the long-term development strategies and goals of the organisers of Miss Universe Vietnam.

Unicorp has decided to suspend copyright co-operation with the Miss Universe Organization and focus on organising Miss Universe Vietnam 2023, which is scheduled to take place later this year.

Unicorp is the owner of the Miss Universe Vietnam brand having organised the Miss Universe pageant in 2008, as well as the Miss Universe Vietnam beauty contests in 2015 and 2017.

From 2019, Unicorp has empowered Universe Media Vietnam Co., Ltd. (UniMedia) to organise the Miss Universe Vietnam pageants in 2019 and 2022.

Since 2008, Unicorp has held the copyright to nominate the Vietnamese representative to the Miss Universe pageant.

Along with its role organising the Miss Universe Vietnam pageant, UniMedia has produced reality TV shows during Miss Universe Vietnam, as well as training the Vietnamese representatives to vie for the Miss Universe crown.

Vietnamese beauties have made some outstanding achievements at Miss Universe throughout the years, including Nguyen Thuy Lam (Top 15 in 2008), H’Hen Nie (Top 5 in 2018), Hoang Thuy (Top 20 in 2019), Khanh Van (Top 21 in 2020), and Kim Duyen (Top 16 in 2021).