50 richest women on stock market

The assets of the five richest women on the stock market alone account for 60 percent of total assets of the members on the list of 50 richest women.

VietNamNet Bridge - The assets of the five richest women on the stock market alone account for 60 percent of total assets of the members on the list of 50 richest women. The 50 businesswomen had shares worth VND20.17 trillion by December 31, 2015. The oldest one in the list was 77 years old, while the youngest was 25 years old. The first three positions in the 2015 list are the same as last year’s. Holding the shares of the largest Vietnamese real estate group worth VND4.195 trillion, Pham Thu Huong, deputy chair of Vingroup has, for the sixth time, topped the list. Huong is the only businesswoman listed among the top 3 stock millionaires. The second position also belongs to a member of Pham family – Pham Thuy Hang, deputy chair of Vingroup, with stock assets of VND2.8 trillion. Nguyen Hoang Yen, member of Masan’s Board of Directors, has been put on the third position. She is the wife of Nguyen Dang Quang, chair of the group. Yen has seen her assets decrease … [Read more...]

20 born-in-80s millionaires of Vietnam in 2015

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VietNamNet Bridge - As of December 25, the 20richest millionaires on the stock market who were born in the 80s had total assets of VND4.16 trillion (over $200 million). Some of them are spouses or brothers and sisters. Most inherited the family tradition in business and have great support from the family. They not only own stock volumes worth millions of USD but also hold important positions in companies listed on the stock market. Additionally, these entrepreneurs were well trained, mostly in economics and finance. The list of the 20 richest people who were born in the 80s:No.NameYear of birth Stock code Value(billions VND) 1 Tram Trong Ngan 1981 Sacombank (STB) 888 2 Tram Khai Hoa 1988 Sacombank (STB) 390 3 Le Thi Diu Minh 1986 Minh Phu Seafood (MPC) 385 4 Dang Hong Anh 1980 Sacomreal (SCR) 311 5 Dang Huynh Uc My 1981 SBT, BHS, NHS 306 6 Do Huu Hau 1984 Hung Huy … [Read more...]

The richest and youngest heirs in Vietnam

Mr. Duong Cong Minh

VietNamNet reviews the young and richest heirs in Vietnam.The youngest heir On September 9, 2013, Mr. Huynh Uy Dung, the boss of Dai Nam Tourist Site in Binh Duong province, surprisingly declared that he would transfer assets worth trillions of VND (hundreds of million USD) to his one-year-old son, named Huynh Hang Huu. This testament was released on the first birthday of the child, the only son of Dung and his second wife, Nguyen Phuong Hang. On September 21, 2013, Hang Huu officially became the chairman of Dai Nam Joint Stock Company, with over 2,000 employees. The baby also owns a huge fortune from his father, including Lac Canh resort, Dai Nam Van Hien theme park, Di An residential - administrative area, Song Than Industrial Parks 2 and 3, totaling hundreds of million of USD. However, a short time later Dung said that the baby was not the president of Dai Nam but the owner of a charity foundation. Until the boy is 18, the foundation will be run by a 12-member council, … [Read more...]

Vietnam’s chaebols: The power of femininity at Quoc Cuong Gia Lai

Nguyen Quoc Cuong and one of his super-car.

VietNamNet Bridge - Owning more than 55% of shares with a value of VND15,000 billion, the family of Mrs. Nguyen Thi Nhu Loan holds control of Quoc Cuong Gia Lai Corporation. Related news Vietnamese "chaebols": Tu Huong ‘Empire' and Nam A BankVietnam’s "chaebols": King of 'Acquisition' Tram BeVietnam’s "chaebols": The rich and mysterious family of Vingroup Quoc Cuong Gia Lai is a familiar name in the field of real estate, timber and rubber processing in Vietnam. This is also a typical example of "chaebols" in Vietnam. The company was founded in 1994 and is headquartered in Pleiku, Vietnam. It has registered business in many different fields including wood trade, hydropower, rubber and real estate. However, it has been well known to everyone as a big guy in the real estate sector. Nguyen Quoc Cuong, Deputy General Director of Quoc Cuong Gia Lai, deserves credit for making the company famous to everybody. However, the information about Cuong relates mostly to his … [Read more...]

Ambassadors of green thinking

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by Phuoc Buu Young people clean up an area near the beach in the central city of Da Nang as part of their effort to raise public awareness of environmental protection. — VNA/VNS Photo Le Lam HCM CITY — University students in HCM City who have been chosen as envoys for an international programme have developed plans to improve primary-school students' awareness about sanitation and environmental protection. Mai Tran Hanh Nguyen, a student at HCM City's Foreign Trade University, said similar programmes launched by primary schools in her home province of Phu Yen had not been effective. "There have been many painting contests or knowledge contests for primary-school students, but they had no results," Nguyen said. "Students continue to dump waste everywhere and they are not taking action to protect the environment." Nguyen was one of eight students from Viet Nam selected for the first round of an international programme, the Bayer Young Environmental Envoys, organised … [Read more...]

Vietnam’s notable economic achievements after 30 years of Doi Moi

Ho Chi Minh City at night

VietNamNet Bridge – After 30 years of the Doi Moi reform, Vietnam has recorded significant achievements, emerging from a backward country with 90% of the population working in the agricultural sector to one of the most dynamic economies in Asia. The past three decades have seen fairly strong economic growth, improved living standards and a multiplying in the number of entrepreneurs playing an increasingly important role in national industrialisation and modernisation. Growth in the past 30 years was much higher than the pre-Doi Moi level. After posting average growth of 4.4% in the early years of reform from 1986 to 1990, Vietnam’s economy experienced impressive growth in the next two decades. Growth averaged 8.2% during the 1991-1995 period, followed by 7.6% in the next five years despite negative impacts from the regional financial crisis. Growth slowed down to 7.34% during the first five years of the 21st century and further to 6.32% during the 2006-2010 period as a … [Read more...]

TPP generates opportunities and challenges

Representatives from 12 signatory countries of the TPP

(VOVworld) – The Trans-Pacific Partnership Agreement (TPP) was signed in Auckland, New Zealand, on February 4th after 20 rounds of negotiations. The TPP will generate momentum for national development but will bring grave challenges as well. The TPP will take effect when ratified by at least six of the 12 signatory countries. It will be the world’s biggest free trade area, with 800 million people and a combined GDP of 28 trillion USD, accounting for 30% of global trade revenue and 40% of global productivity. This pact has taken into consideration the varying interests and development levels of its members and aims to boost their collective economic growth. A driving force for Vietnam’s export, particularly garments and textiles products Economists estimate that the TPP will increase Vietnam’s GDP 23.5 billion USD in 2020 and 33.5 billion USD in 2025. Zero percent tariffs in big markets like the US, Japan, and Canada will enable Vietnam to increase its … [Read more...]

Retail sector sees foreign-VN M&A

HA NOI (VNS) — The Vietnamese retail market has seen some mergers and acquisitions (M&A) between foreign and Vietnamese enterprises, thanks to the huge development potential of the retail sector. As part of its commitment to join the World Trade Organisation, Viet Nam has allowed the establishment of 100 per cent foreign retail companies since 2015. Viet Nam's membership of the ASEAN Economic Community, signed last month, will connect the country's market with a single regional market of 600 million consumers, while the Trans-Pacific Partnership Agreement will bring more than 10,000 kinds of goods from 12 member countries at zero tariffs. In this context, the current modern retail channel of supermarkets and stores account for only 25 per cent of the market share in Viet Nam, where the traditional market is still the most popular shopping channel. Compared with the region, the coverage of modern retail sector in the country is much lower than in the regional countries, such … [Read more...]

12 countries sign Trans-Pacific Partnership in New Zealand

12 countries officially sign on TPP trade deal (photo: AFP)

The trade ministers of the 12 signatory countries signed the Trans-Pacific Partnership agreement this morning in Auckland, New Zealand. 12 countries officially sign on TPP trade deal (photo: AFP) Tariffs on a wide range of products will be slashed or eliminated. Vietnam and Malaysia are said to be two countries that would benefit the most from the TPP. The Peterson Institute for International Economics predicted that Vietnam's textile and leather shoes export would grow and the export quota would increase by 31.7 percent. It will also boost foreign investment in Vietnam. Minister of Industry and Trade Vu Huy Hoang said, "Joining the TPP is a milestone for Vietnam's global integration process. We have made huge steps in the integration since joining ASEAN in 1995. TPP will provide big opportunities for our economy." New Zealand Prime Minister John Key said the TPP represented the confidence and optimism for future prosperity. Minister Vu Huy Hoang When being asked about the … [Read more...]

Pacific Rim nations sign giant trade deal amid protests

New Zealand Prime Minister John Key (C) and Ministerial Representatives from 12 countries pose for a photo after signing the Trans-Pacific Partnership agreement in Auckland. Minister of Industry and Trade, Vu Huy Hoang (first, right) represents Viet Nam to the signing ceremony. — AFP/VNA Photo

AUCKLAND — The US-led Trans-Pacific Partnership, one of the biggest trade deals in history, was signed in New Zealand on Thursday as protestors demonstrated over fears for jobs and sovereignty. The ambitious deal, promising the elimination of nearly all tariffs among the 12 member nations, aims to break down trade and investment barriers between countries accounting for about 40 percent of the global economy. While New Zealand Prime Minister John Key and US Trade Representative Mike Froman lauded the pact at the ceremonial signing in Auckland, thousands of protestors blocked roads outside. "Today is a significant day, not only for New Zealand but for the other 11 countries in the Trans-Pacific Partnership," Key said. US President Barack Obama hailed the signing, saying the TPP would give the United States an advantage over other leading economies, namely China. "TPP allows America -- and not countries like China -- to write the rules of the road in the 21st century, which is … [Read more...]

VN officially signs TPP

Photo: VNA

VGP – Minister of Industry and Trade Vu Huy Hoang, a representative from Viet Nam, on February 4 officially inked the Trans-Pacific Partnership Agreement with the ministers of trade and economics from the 12 member countries in Auckland, New Zealand. The TPP, a free trade agreement of Canada, Brunei, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Australia, the U.S., Japan and Viet Nam, is formed with the aim of eliminating tariffs, good barriers and imports and exports servicers between the member nations. Once it comes into effect, it will delineate the world’s largest free trade area with a population of 800 million people, representing about 40% of the global gross domestic product and 30% of the global trade turnover, evidence of the agreement’s massive potential impact on the global economy and each member economy. Viet Nam has given priorities to completing the legal document system related to the Free Trade Agreement (FTA), accelerating the … [Read more...]

Resolution on signing TPP issued

VGP – The Government has issued a Resolution on inking the Trans-Pacific Partnership Agreement (TPP). Accordingly, the Government approved the signing of the TPP and assigned the Minister of Industry and Trade to ink the Agreement with authorized representatives of nations joining the TPP. October 5, 2015 marked a historical milestone for the 12 TPP countries as their trade ministers reached final consensus on the world’s largest free trade agreement after more than five years of negotiations. The TPP is a multi-lateral free trade agreement that involves not only goods and services but also non-trade affairs. Once it comes into effect, it will delineate the world’s largest free trade area with a population of 800 million people, representing about 40% of the global gross domestic product and 30% of the global trade turnover, evidence of the agreement’s massive potential impact on the global economy and each member economy. Reaching this consensus is quite … [Read more...]

Government issues resolution on TPP signing

Hanoi, February 2 (VNA) – The Vietnamese Government agreed to sign the "Trans-Pacific Partnership" agreement with Resolution 09/NQ-CP issued on February 2. It authorized the Minister of Industry and Trade to ink the agreement. Procedures required will be undertaken by the Ministry of Foreign Affairs, according to the Resolution. The TPP signing is slated for February 4 in New Zealand. The TPP negotiations started in 2005 and concluded in late October last year. The 12 members of the agreement are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam. Once it takes effect, the agreement will establish a free trade zone that represents nearly 40 percent of global GDP. In theory, Vietnam is expected to gain the most benefits from the pact, especially in trade of goods, investment, and services, said Minister of Industry and Trade Vu Huy Hoang in an insightful interview with the Vietnam News Agency. He, however, … [Read more...]

Public employees should know they are the people’s servants

Nguyen Thi Minh Thao, deputy director of the Department of Business Environment and Competition Capacity under the Central Institute for Economic Management, told the newspaper Hai quan (Customs) Government officials should show more respect toward their clients. Do you think the investment environment in our country has been improved in the last few years? The investment environment in our country has improved considerably over the past few years. However, there remains a big gap between what has been written in the policies and what is practised. Everyone agrees that the policies are of good quality, but still many enterprises and people have expressed their dissatisfaction with the services performed by Government officials or public employees, either in their lack of competency or poor work ethic. Sometimes the enterprises and people don't feel happy about changes in the policy, even if the policy aims to provide better conditions for them, like with paying taxes online. In … [Read more...]

Government resolution approves signing of TPP agreement

Vietnamese Government has authorised Industry and Trade Minister Vu Huy Hoang to sign the TPP agreement in New Zealand in February 4. — Photo daily-sun.com

HA NOI (Biz Hub) — The Vietnamese government issued Resolution 09/NQ-CP on February 2, approving the signing of the Trans-Pacific Partnership agreement. The government has authorised the industry and trade minister to sign the agreement. Required procedures would be completed by the foreign affairs ministry, the resolution said. The signing of the TPP is slated for February 4 in New Zealand. The TPP negotiations started in 2005 and concluded in late October last year. The 12 members of the agreement are Australia, Brunei, Canada and Chile, besides Japan, Malaysia, Mexico and New Zealand, as well as Peru, Singapore, the United States and Viet Nam. Once it takes effect, the agreement will establish a free trade zone that represents nearly 40 per cent of the global GDP. Viet Nam was expected to benefit the maximum from the pact, especially in the trade of goods, investment and services, Minister of Industry and Trade Vu Huy Hoang said during an insightful interview with … [Read more...]

Press digest – February 1

NA Chairman holds talks with Saudi Arabian counterpart National Assembly Chairman Nguyen Sinh Hung and Chairman of Saudi Arabia’s Consultative Assembly Abdullah Bin Mohammed Ibrahim Al-Sheikh on February 1 held talks to beef up parliamentary cooperation between the two countries. The two leaders showed their pleasure at the development of the two countries’ relations, and agreed to continue supporting each other at regional and international forums. They pledged to share more experience in legislative affairs and other important issues, while cooperating to build peace and boost prosperity for their people’s interests. Fatherland Front leader extends New Year wishes to top Buddhist monks President of the Viet Nam Fatherland Front (VFF) Central Committee Nguyen Thien Nhan visited Most Venerable Thich Pho Tue, Supreme Patriarch of the Viet Nam Buddhist Sangha, and other Buddhist dignitaries, in Hanoi on February 1 ahead of the Lunar New Year (Tet) holiday. At the … [Read more...]

Shrimp exports to earn $3.3 billion in 2016

Viet Nam's shrimp exports to the United States this year are expected to rise due to positive results from the ninth administrative review (POR9) for anti-dumping duties on Vietnamese frozen shrimp and the signing of the Trans-Pacific Partnership Agreement. — File Photo

HA NOI (Biz Hub) — The Vietnam Association of Seafood Exporters and Producers (VASEP) forecast that shrimp exports would reach US$3.3 billion in 2016, up 12 per cent from 2015. The sector saw a surge in the first month of this year, up 8 per cent from the same period last year, according to VASEP. Shrimp prices also saw a slight increase of 5-20 per cent in the Mekong Delta region due to low supply. Statistics from the General Department of Viet Nam Customs showed that shrimp exports to the United States generated $657 million in 2015, up 38.3 per cent from 2014, making the United States the largest import market of Viet Nam. Viet Nam's shrimp exports to the United States this year are expected to rise due to positive results from the ninth administrative review (POR9) for anti-dumping duties on Vietnamese frozen shrimp and the signing of the Trans-Pacific Partnership Agreement. The average anti-dumping tariff rate levied on most Vietnamese frozen shrimp sold in the US … [Read more...]

Tet celebrations held for OVs in Macau, Hong Kong

Consul General Hoang Chi Trung speaks at the event

(VOVworld) – The Vietnam Consul General in Hong Kong and Macau held a ceremony for local overseas Vietnamese to welcome the lunar New Year. In his address, Consul General Hoang Chi Trung reviewed Vietnam’s achievements in 2015: continuous economic growth, stable security, and remarkable improvements in diplomacy. He said Vietnam has completed negotiations with other Asia Pacific countries on the Trans-Pacific Partnership agreement, has signed free trade deals with the Republic of Korea and the European Union, and has witnessed the establishment of the ASEAN community. Trung said:"Spring has arrived with the success of the 12th National Party Congress. New policies and guidelines for Vietnam’s development in the next 5 years have been issued to turn Vietnam into an industrialized nation by 2020. We all hope that Vietnam will continue to reap success in realizing its goal of becoming a just, democratic, and civilized socialist nation." Vietnam’s trade with Hong … [Read more...]

The government holds the first press conference in 2016

At the Government meeting (Source: VNA)

(VOVworld)- On Friday, the government held its first press conference in 2016. Responding to reporters’ questions on the cabinet’s personnel changes and replacement of Ministry and sectors leaders who were not elected to the 12th Party Central Congress, Minister and Head of the Government Office Nguyen Van Nen said the Party has always closely directed the personnel work at different levels. An official can be resourced for some certain positions to facilitate personnel planning. Minister Nen said at the government’s regular meeting on Friday, Prime Minister Nguyen Tan Dung congratulated re-elected cabinet members some of whom were elected to the Politburo and the Party Secretariat and encouraged them to better fulfill tasks assigned by the Party, State and people. The Prime Minister asked 14 outgoing Cabinet members to fulfill their tasks. In response to a question on Vietnam’s commitments to and implementation of the Trans Pacific Partnership agreement in … [Read more...]

WTO trade facilitation agreement introduced

The press conference. Photo: tapchitaichinh.vn

The World Trade Organisation’s Trade Facilitation Agreement (TFA) sets forth a series of specific measures to facilitate trade across borders in line with international standards, creating favourable conditions for Vietnam to implement commitments in the free trade agreements (FTAs) that the country has signed. Nguyen Toan, Director of the International Cooperation Department under the General Department of Vietnam Customs revealed the information at a press conference held in Hanoi on January 29 to introduce the TFA. With three sections including 24 provisions, the TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. In addition to special and differential treatment provisions on providing technical assistance for developing and least-developed countries, the agreement also includes articles on establishing a permanent committee on trade facilitation at the WTO as well as national committee to facilitate domestic … [Read more...]