VinGroup plans to go places

Addressing the launch ceremony, Vietnamese Ambassador to the US Le Cong Phung expressed his hope that the branch will help promote the ties between business circles in Vietnam and the US and make great contributions to the two countries' multi-faced relations. BAOOV President Pham Nhat Vuong said that the association decided to form a branch in the US to promote business opportunities in Vietnam to the Americans and the Vietnamese American business community. David Huy Ho, Vice President of BAOOV and President of its branch, said that in 2008, Vietnamese and American businesses generated over US$20 billion in the US and invested about US$200 million in Vietnam.... [read more]

VietNamNet Bridge - The 10 richest women on the stock market have total assets worth VND19.301 trillion, accounting for 11.5 percent of total assets of the 500 richest Vietnamese billionaires. Of 500 richest billionaires, 343 are men, accounting for 68 percent, who hold the total assets of VND134.689 trillion. There are 157 women, who have VND32.673 trillion. Pham Thu Huong, 1969, from Hanoi, vice president of Vingroup, is the richest woman with VND4.724 trillion in stock assets as of December 31, 2016. Her husband, Pham Nhat Vuong, is president of Vingroup, the second richest billionaire. The 10 richest women on the stock market have total assets worth VND19.301 trillion, accounting for 11.5 percent of total assets of the 500 richest Vietnamese billionaires. The second position belongs to Pham Thuy Hang, Huong’s younger sister. Hang, who is also vice president of Vingroup, has VND3.155 trillion Truong Thi Le Khanh, born in 1961, from An Giang province, the third richest woman, president and general director of Vinh Hoan Seafood JSC, has VND2.634 trillion. Le Thi Ngoc Diep is in the fourth position with VND2.317 trillion. Diep is the wife of Trinh Van Quyet, president of FLC Group, the richest stock billionaire in 2016. Diep and Quyet have the huge total stock assets of VND36 trillion. With VND2.304 trillion, Vu Thi Hien is in the fifth position. She is also the wife of a big businessman – Tran Dinh Long, president of Hoa Phat Group. Hien is called the ‘rich and mysterious woman’…... [read more]

At the ceremony, Deputy Prime Minister Pham Gia Khiem said that the Vietnamese Government always supports and creates the best possible conditions for overseas Vietnamese businesses to boost their production and business activities and contribute to the homeland’s development. The Deputy Minister of Foreign Affairs, Nguyen Thanh Son, said that the establishment of the association is a major event for the whole Vietnamese business community overseas, reminding them of their responsibility to the motherland and confirming the Party and State’s policies towards the overseas community. More than 300 Vietnamese businesses from all over the world have registered to join the association. Its first congress on the same day elected a 32-member executive committee, headed by Pham Nhat Vuong, who pledges to fulfil the tasks set by the Vietnamese Government and act for the sake of the country, the people and Vietnamese entrepreneurs. In recent years, the Vietnamese Party and State have introduced many policies to create better conditions for the overseas Vietnamese community to do business in the country. So far, overseas Vietnamese have invested nearly US$2 billion in some 3,000 projects in Vietnam. In 2008, they remitted up to over US$7 billion to Vietnam despite the global financial meltdown.... [read more]

With a chartered capital of VND300 billion (US$13.6 million), the company, to be located in Hung Yen Province, is expected to launch its first products in the market in the first half of this year and achieve a turnover of VND3 trillion within three years. Before Hoa Phat, which belongs to the country's third richest tycoon, Tran Duc Long, enters the market, a series of other private giants would have expanded their investment in the agriculture sector, sinking hundreds of millions of dollars in cattle breeding and growing sugarcane and maize. Finding that the real estate sector, despite its big profit potential, poses many risks, the country's second richest person and owner of property conglomerate Hoang Anh Gia Lai, Doan Nguyen Duc, decided to invest in growing rubber, sugarcane and maize and breeding cattle in Laos and Cambodia and Vietnam. His group recently announced that it is divesting from one of the biggest property projects in Myanmar to focus on agriculture Vo Truong Son, a spokesperson for Hoang Anh Gia Lai, said the company would invest part of the US$275 million to be realized from it in its dairy farms. The company plans to raise its current herd of 30,000 cows to over 200,000. Another part will be used to repay debts and invest in palm oil projects. The company has transformed from a real estate company to the country's largest owner of agricultural land in just a few years. Hoang Anh Gia Lai said it has 100,000 hectares under…... [read more]

VietNamNet Bridge - All five members of Tran Mong Hung’s family were listed among the top 100 Vietnamese stock billionaires in 2016. The VN Index stood at 664.87 points on the last trading session of 2016, an increase of 14.8 percent compared with the beginning of the year. Stocks brought profit 50 percent higher than gold in 2016. Trinh Van Quyet, president of FLC Group, a real estate developer,,has officially become the newest stock billionaire with the asset of VND33.8 trillion. Pham Nhat Vuong, also the owner of a real estate developer, ranks second with VND30.4 trillion in stock assets. Meanwhile, the owner of a steel group ranks third with VND9.1 trillion in assets. The majority of the 20 richest stock billionaires, who have stock assets of VND1.5 trillion and higher, are from the real estate sector. Very few bankers can find their names on the list of the richest billionaires. There are only two well-known names – Tran Mong Hung and Tram Be. Tran Mong Hung, member of ACB’s board of directors, and his wife Dang Thu Thuy, also a member of the board of directors, had VND200 billion each worth of ACB shares by the end of 2016. Tran Mong Hung, member of ACB’s board of directors, and his wife Dang Thu Thuy, also a member of the board of directors, had VND200 billion each worth of ACB shares by the end of 2016. Their sons and daughter – Tran Hung Huy, chair of ACB, and Trang Dang…... [read more]

VietNamNet Bridge - The owners of large conglomerates such as Novaland, Hoang Huy and Vietjet Air have left the rank of ‘hidden billionaires’ to join the force of recognized stock billionaires. Bloomberg reports that CEO of Vietjet Air Nguyen Thi Phuong Thao earned her first million dollars when she turned 21 from selling facsimile machines and rubber. The newswire predicted that Thao would become the first female self-made Vietnamese billionaire after Vietjet has its IPO. A representative of VCSC, the consultancy firm, confirmed that the low-cost air carrier has completed the auction of 44.8 million shares to the public to institutional investors. The owners of large conglomerates such as Novaland, Hoang Huy and Vietjet Air have left the rank of ‘hidden billionaires’ to join the force of recognized stock billionaires. Reuters said the shares were sold at VND84,600 each, between the VND75,900 and 98,400 per share prices planned before. The carrier would offer 3.5 million shares to individual investors at VND86,500 per share. With a valuation of $1.2 billion, if IPO succeeds, Vietjet Air would be able to mobilize $170 million worth of capital. Before the IPO, Vietjet Air has 56 shareholders, while Thao is the biggest shareholder who holds 20.03 percent of charter capital, or 60 million shares. With the reference price of VND86,500 per share, Thao’s stocks in Vietjet Air are big enough to add her to the list of the richest stock billionaires. Thao not only is the CEO and chair of Vietjet Air, but also deputy…... [read more]

VietNamNet Bridge - After Doan Nguyen Duc, owner of a powerful real estate group, and Tran Dinh Long, owner of a steel corporation, decided to pour money into agriculture projects, a number of other billionaires did the same. Five years ago, when the real estate market experienced a slump, Duc, who was then one of the most influential businessmen, surprised people with the announcement that his Hoang Anh Gia Lai would quit the real estate market and focus on agriculture projects. By the first half of 2016, Hoang Anh Gia Lai had had a herd of 7,500 milk cows and 130,000 meat cows. Prior to that, Duc stated his total investment capital in agriculture had reached VND18 trillion and the investments had brought initial profits. However, the sharp fall in rubber prices has caused difficulties for the conglomerate. In mid-2016, Duc sold a part of his sugarcane production division and is considering selling 10,000-20,000 hectares of rubber to pay debts. In 2015, Hoa Phat Group of Tran Dinh Long began injecting money into agriculture. The Hoa Phat Trade & Animal Feed Production, a subsidiary of Hoa Phat, has poured VND300 billion into a feed factory project, hoping to obtain revenue of VND3 trillion in the next three years. After Doan Nguyen Duc, owner of a powerful real estate group, and Tran Dinh Long, owner of a steel corporation, decided to pour money into agriculture projects, a number of other billionaires did the same. In mid-2016, Hoa Phat imported 500 pig…... [read more]

Trading floors were lit green in the last trading session of 2016 with VN Index closing at 664.87 points and HNX Index 80.12. As such, the VN Index had increased by 14.82 percent by the end of 2016 and HNX Index by 0.2 percent compared with the end of 2015. According to Bizlive, the total stock assets of 500 richest billionaires are VND167.483 trillion, or US$7.3 billion. Of this, 10 richest billionaires have assets accounting for 58.20% of total assets of the 500 billionaires. The assets of Trinh Van Quyet and Pham Nhat Vuong, who are in No 1 and No 2 positions, alone accounts for 20.18 percent and 18.16%. Nine out of 10 richest billionaires in the 2015 list did not stay in their positions. Many new names appeared in the 2016 list after their businesses began listing shares on the bourse. Trinh Van Quyet, president of FLC, a real estate developer, has become the 2016 richest stock billionaire. He was in the 28th position in last year’s list. Quyet’s stock assets have been increasing rapidly since September 2016, after ROS shares were put into transactions on the HCMC Stock Exchange. On November 11, 2016, Quyet officially became the richest person on the Vietnamese stock market. Quyet started his business as a lawyer and investment consultant. Later he became a trader and joined the real estate market. Savills, a real estate service provider, estimates that the total real estate projects, from housing, resort real estate and industrial zones throughout…... [read more]

VietNamNet Bridge - Seven out of 15 of the richest billionaires in 2016 are businessmen in the real estate sector or sectors related to real estate. Two richest billionaires – Pham Nhat Vuong and Trinh Van Quyet – are the owners of large real estate groups. Their total assets are worth over VND60 trillion. The list of 15 richest billionaires comprises many other real estate developers – Pham Thu Huong, Pham Thuy Hang (Vingroup), Le Thi Ngoc Diep, Doan Nguyen Duc (Hoang Anh Gia Lai Group) and Nguyet Van Dat (Phat Dat Group). Most of them are men Men account for overwhelming proportion in the list of the 15 richest billionaires. They are Pham Nhat Vuong (Vingroup), Tran Dinh Long (Hoa Phat), Nguyen Duc Tai and Tran Le Quan (The Gioi Di Dong), Do Huu Ha (Hoang Huy), Le Phuoc Vu (Hoa Sen Group), Doan Nguyen Duc (Hoang Anh Gia Lai) and Nguyen Van Dat (Phat Dat). Their total assets are worth VND80 trillion, accounting for 80 percent of total assets of thevtop 15 billionaires. No technology billionaire There is no billionaire from the technology field. Nguyen Duc Tai and Tran Le Quan are from The Gioi Di Dong which is a retailer rather than a pure technology firm. Few billionaires from food and consumer goods Only two are from food and consumer goods manufacturing sectors. They are Truong Thi Le Khanh from Vinh Hoan Seafood with the total stock assets of VND2.5 trillion, and Nguyen Hoang Yen with VND2…... [read more]

Chairman of Vingroup Pham Nhat Vuong is still Vietnam's only dollar billionaire and has moved up on Forbes' billionaires list of the world's richest people as of January 3. With a net worth of USD2.2bn, Vuong's rank has moved up from 1,011 to 914. His net worth has increased considerably compared to USD1.8bn from three months ago. Vuong's net worth listed on Forbes is also much higher than his total value of Vingroup JSC share which is estimated at USD1.3bn. However, Vuong is not the richest person in terms of the Vietnam stock exchange. That title rests with Trinh Van Quyet, chairman of the FLC Group. Quyet's total assets on the Vietnam stock exchange on November 14 were valued at over USD1.4bn. Quyet is the new name on the list of the riches in Vietnam and hasn't been added to the Forbes' list. His rise started only four months ago when FLC Faros Construction JSC was listed on the stock exchange. FLC Faros Construction JSC share value has increased from VND12,600 (55 US cents) to VND115,800 as of January 3 and is likely to increase. One of the reasons that cause FLC Faros' share value to rise is because during this time, Quyet has bought a large number of shares in FLC Group and FLC Faros Construction JSC. Quyet is holding 289.6 million shares of FLC Faros, accounting for 67.34% of the company's charter capital, and 114.2 million shares of FLC Group, accounting for 17.9% of its charter capital.... [read more]




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