Five largest families own assets worth $12.2b

VietNamNet Bridge - The family-run business model has certain vulnerabilities and is prone to breakdowns that can lead to serious consequences. Analysts have said that Kao Sieu Luc ‘played fair’ as he continued providing sandwiches to the shop chain run by his ex-wife until she could build new workshops and stabilize the labor force.  After the divorce, Kao left with empty hands, while the Duc Phat brand which he and his wife developed for 20 years was taken over by his wife. With $400, he started his business from scratch with ABC Bakery. After 10 years of development, ABC now…... [read more]

Nguyen Hai Duong, 24, was sentenced to death for the murder of all six victims, including 48-year-old wood mogul Le Van My, his wife, two children and two relatives, at their house in Binh Phuoc Province on July 7, according to the verdict.Vu Van Tien was sentenced to death for assisting Duong, even though the 24-year-old did not directly kill anyone.The third defendant, Tran Dinh Thoai, 27, received the imprisonment on charges of murder and robbery although he himself did not kill anyone either.Thoai was found guilty of helping Duong buy weapons for the mass killings.He knew of Duong’s plan but…... [read more]

The three banks are Viet Nam Bank for Industry and Trade (VietinBank), Bank for Investment and Development of Viet Nam (BIDV), and Bank for Foreign Trade of Viet Nam (Vietcombank).According to Forbes, factors such as revenues, profits, assets, and market value were considered to measure companies. With its market value reaching US$3 billion and revenue hitting $2.23 billion, as of May 2015, VietinBank ranks 1,902th on the list.The BIDV has come 1,913rd, with a market value of $2.3 billion and revenue of $2.44 billion. Vietcombank stands at the 1,985th position with a market value of $4.4 billion and $1.65 billion…... [read more]

A car with registration plate in blue and white, which means it is a public asset (Photo: VNA)HCM City (VNA) – The Government has made efforts to improve the management of public assets but the task is made difficult by its massive scale and deficient database. According to the Ministry of Finance’s Public Asset Management Department, in the first six months of this year 766 different assets - 69 land plots, 296 houses, and 384 cars - were sold for a total of 746 billion VND (33.5 million USD).In the period the Ministry took back assets worth 26 billion VND (1.17 million…... [read more]

>> Super model cuts and runs over divorce lawsuitSuper model Ngoc Thuy, who faces being sued for allegedly appropriating the assets of her ex-husband, previously failed to register the marriage with authorities in HCM City. Super model Ngoc Thuy Her former husband Nguyen Duc An, a Vietnam-American was married to Thuy in 2006 but eventually filed for divorce in a Californian court in the US on September 26, 2007.This means that the former marriage is not recognised in Vietnam and their dispute over assets worth VND288 billion (USD13.8 million) and child custody will be handled as a normal civil case.…... [read more]

The Government has made efforts to improve the management of public assets but the task is made difficult by its massive scale and deficient database.According to the Ministry of Finance’s Public Asset Management Department, in the first six months of this year 766 different assets -- 69 land plots, 296 houses, and 384 cars -- were sold for a total of VNĐ746 billion (US$33.5 million).In the period the Ministry took back assets worth VNĐ26 billion ($1.17 million) from 10 State-funded projects.Another VNĐ35 trillion ($1.57 billion) was raised by rearranging and selling State-owned houses and lands.“To make the management more effective,…... [read more]

A Vietcombank transaction office. This bank is among three credit institutions which have made their way into this year's Forbes Global 2000 list. — Photo ebankplus.vn HA NOI (VNS) — Three Vietnamese banks have made their way into this year's Global 2000, a list of the world's largest and most powerful companies selected by US business magazine Forbes. The three banks are Viet Nam Bank for Industry and Trade (VietinBank), Bank for Investment and Development of Viet Nam (BIDV), and Bank for Foreign Trade of Viet Nam (Vietcombank). According to Forbes, factors such as revenues, profits, assets, and market value…... [read more]

Francesco Checchi (left), Anti-Corruption Regional Advisor, UNODC in South East Asia and Pacific; Nguyen Huu Loc (middle), Acting General Director of the International Cooperation Department under the Government Inspectorate (GI), and Ngo Manh Hung, Deputy Director of Vietnam’s Anti-Corruption Bureau, answer questions by conference delegates. (Photo: courtesy of the GI)Hanoi (VNA) - In the last ten years, ameagre 10 percent of assets worth of 60 trillion VND (approximately 2.65billion USD) involved in nearly 1,900 corruption cases have been recovered.The figure was revealed on December 8 by Ngo Manh Hung, Deputy Director of the VietnamAnti-Corruption Bureau under the Government Inspectorate (GI), at…... [read more]

The number of family members was reduced from 5.22 in 1979 to 4.61 in 1999 and this trend is believed to continue as the country is rushing towards industrial development.   General censuses have showed that families differ in size, depending on the level of local development. For instance, the smallest family in the Red River Delta region has an average number of 4.1 people, while the largest family in the northwestern mountainous region has more than five members.   Smaller-sized families provide advantages, such as more female equality and better care for children, but they also pose challenges to…... [read more]

  A Vertu mobile phone, an iPad, a certificate of land-use rights and more than VND80 million ($3,600) in cash were returned to their owner, Do Dac Anh Quan. —  Photo vnexpress.net  HA NOI (VNS) – Police in the central Thua Thien-Hue Province yesterday returned assets worth more than VND600 million (US$27,000) to a traveller from Ha Noi.Do Dac Anh Quan, a resident in Thanh Xuan District, had dropped his belongings, comprising a Vertu mobile phone, an iPad, a certificate of land-use rights and more than VND80 million ($3,600) in cash, while travelling in Hue city.All these items were found on…... [read more]




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