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...]

Assets of 50 richest women reach $1 billion

Nguyen Ngoc Nhat Hanh, the daughter of REE’s chair, is the young face in the top 50.

VietNamNet Bridge – The total stock assets of the 50 richest Vietnamese women in 2014 increased by VND5 trillion from the year before. The oldest member of the top 50 women is 64 years old, while the youngest was born in 1991. The total assets of the 50 women hit VND21.45 trillion by the end of 2014, an increase of VND4.9 trillion over 2013. Holding shares of the largest listed real estate firm, Pham Thu Huong, deputy chair of the Vingroup’s board of directors, has for the fifth time been recognized as the richest woman in Vietnam. Her husband, billionaire Pham Nhat Vuong, topped the list of 100 richest stock millionaires in 2014. Vuong is also the first Vietnamese dollar billionaire recognized by Forbes. The second position on the list of top 50 belongs to a member of the Pham family – Pham Thuy Hang, deputy chair of Vingroup, who holds shares worth VND2.3 trillion. Vingroup is believed to be one of the most "powerful" and profitable conglomerates in … [Read more...]

The new stock millionaires in 2013

Nam Long's President Nguyen Xuan Quang.

VietNamNet Bridge - Vietnam has got 30 more stock millionaires, who are the shareholders of the companies which begin listing their shares on the bourse in 2013, and the members of the rich families. VnExpress and its partner VNDirect Securities Company have reported that 34 new stock millionaires have turned up by December 18, 2013, who have the stock assets worth over VND21 billion, or 1 million US dollars. The decision by Nam Long Investment JSC (NLG) on listing its shares on the bourse in April 2013 has created six more stock millionaires. Nam Long's President Nguyen Xuan Quang, with the stock assets worth VND250 billion, has become the richest among the new stock millionaires. Quang has been known as the founder and the chair of Nam Long since its establishment in 1992. Besides, he holds the post of president in the other four companies. In Nam Long, Quang holds 14.6 million shares with the market value of VND249.7 billion currently, a 20 percent decrease in comparison with … [Read more...]

The Vietnamese young ladies with colossal fortunes

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The Hanoitimes - The number of Vietnamese millionaires has been increasing rapidly, while the rich businessmen tend to be younger in recent years. A lot of young ladies reportedly have the assets worth of multi billions of dong. Most of them are the beloved daughters of the big businessmen, who have the assets through inheritance and from the business of their own. On January 21, 2012, the HCM City Stock Exchange (HOSE) released a notice that the daughter of Nguyen Thi Mai Thanh, President of the Refrigeration Engineering Enterprise (REE) - Nguyen Ngoc Nhat Hanh, registered to buy o­ne million REE share more, thus raising her ownership ratio in the enterprise to 1.3% of the company's chartered capital. Until that day, Hanh had held 2.16 million REE shares, worth VND40 billion. The transaction of buying o­ne million shares more is expected to take place o­n the days between January 23 and February 21. The mother of the beautiful lady is Nguyen Thi Mai Thanh, the president of … [Read more...]

Special heirs in Vietnam

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VietNamNet Bridge - A Vietnamese boy who inherited $100 million from an American billionaire is perhaps the most astonishing heir in Vietnam, along with the 1-year-old son of the boss of the Dai Nam tourism zone in Binh Duong province. relate news Vietnamese-born tycoons make a name for themselves in other countriesAbandoned child inherits $100 million Nguyen Be Lory is the boy who inherited $100 million from Larry Hillblom, the owner of DHL, who had $600 million in assets. He is best known as a playboy billionaire. In 1993, when visiting Vietnam to invest in a hotel and a golf course in Phan Thiet, Hillblom had a quick affair with the maid Nguyen Thi Be. The woman became pregnant and then returned to her hometown. In late 1994, she gave birth to Nguyen Be Lory. … [Read more...]

The gold-inlaid temple in Binh Duong

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VietNamNet Bridge - The gold-inlaid temple in the Dai Nam tourist site in Binh Duong province is open for free now. Previously, visitors had to pay VND 100,000 ($5) for the entrance ticket. From June 12, the gold-inlaid temple was split from the Dai Nam tourist site by fences to open its doors for visitors for free forever. The temple is located in an area of nine hectares, with gardens, and mountains... The temple of more than 5,000 m2 is made of precious wood and all of its walls, ceiling, etc. are inlaid with 24K gold. The temple worships Buddha, the Hung Kings and 1,068 families of the Vietnamese ethnic. Upon opening the door for free, the gold-gilded temple has attracted a lot of tourists to visit and burn incense. According to Mr. Huynh Uy Dung, the boss of the Dai Nam tourist site, he will sell all of his estate, worth about VND2 trillion ($100 million) to build 17 temples throughout the country (five temples in the north, six in the central and southern regions each). … [Read more...]

Eight more gas-fueled buses put to service in city

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HCMC ' The HCMC Transport Cooperative Union on Tuesday put into operation eight compressed natural gas (CNG) commuter buses running on the route linking An Suong coach station to HCMC University of Agriculture and Forestry. Two of the eight buses aim to serve disabled people. Thanks to their special designs, these special passengers can get off the vehicles easily. These new buses are equipped with automatic features. For instance, when arriving at a bus-stop, they will automatically lower the deck to help disabled people easily get on and off, said Phung Dang Hai, general director of HCMC Transport Cooperative Union. … [Read more...]

Private transporter puts 14 CNG buses into operation

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HCMC - HCMC-based Phuong Trang Corporation last Friday put 14 compressed natural gas (CNG) commuter buses into operation between Mien Tay Coach Station in the city and Dai Nam Tourist Site in Binh Duong Province. The buses will ply Bus Route No. 619, with each running 47 kilometers a trip. They serve 56-60 trips a day, beginning at 4:45a.m. and ending at 6:30p.m, with an interval of 45 minutes at off-peak hours and 15 minutes at peak hours. Customers get on CNG buses which were launched by Phuong Trang last Friday - Photo: Anh Quan All 14 CNG-fueled buses are imported from South Korea and are equipped with a Global Positioning System (GPS), camera, automatic stop announcer and ticket vendor. From last Friday to Sunday, Phuong Trang offered free trips to passengers on the route whose tickets were priced from VND5,000 to VND20,000. At the ceremony to launch the operation, Phuong Trang clinched an agreement with Korean firm Sunjin Glovis Co., Ltd. to buy 268 more CNG coaches … [Read more...]

Special heirs in Vietnam

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VietNamNet Bridge - A Vietnamese boy who inherited $100 million from an American billionaire is perhaps the most astonishing heir in Vietnam, along with the 1-year-old son of the boss of the Dai Nam tourism zone in Binh Duong province. relate news Vietnamese-born tycoons make a name for themselves in other countriesAbandoned child inherits $100 million Nguyen Be Lory is the boy who inherited $100 million from Larry Hillblom, the owner of DHL, who had $600 million in assets. He is best known as a playboy billionaire. In 1993, when visiting Vietnam to invest in a hotel and a golf course in Phan Thiet, Hillblom had a quick affair with the maid Nguyen Thi Be. The woman became pregnant and then returned to her hometown. In late 1994, she gave birth to Nguyen Be Lory. … [Read more...]

Malaria vaccine fails to work after four years: study

WASHINGTON - A new vaccine that has raised hopes of becoming a potent new tool in the battle against malaria seems to stop working in children after four years, according to research published on Wednesday. The vaccine candidate - known as RTS,S - is not yet on the market, but ongoing trials in seven African countries generated hope that it might help slow new malaria cases as drug resistance to the deadly parasite grows. One child in Africa dies every minute from malaria, a mosquito-borne disease that kills an estimated 655,000 people every year. There is currently no vaccine available that offers full protection against it. The latest data comes from a phase II follow-up study on 320 children in Kenya which found that in the first year after vaccination, protection against malaria was 43.6 per cent, but that dropped to zero by the fourth year. It also found that the more often a child was exposed to malaria, the less effective the vaccine appeared to be. The vaccine's … [Read more...]

APU students get US$2.5 million in scholarships

Kieu Giang Top fi ve students of APU International School pose for a photo at the graduation ceremony in HCMC's District 1 - Photo: Kieu Giang The scholarships are granted by leading American universities, including University of Depaul, Loyola University, University of San Francisco, Central Washington University, Roger Williams University, University of Denver, University of Minnesota. Especially, there were four students - Ho Hoang Phuc, Ho Thuy Truc, Tran Khoa Dieu Quan and Truong Nguyen Thao Nguyen - winning full scholarships worth US$72,000 (VND1.5 billion) each. APU International School is a private coeducational international school enrolling students from Kindergarten to Grade 12. So far, APU has had over 2,000 graduates since its establishment in 2004. The school is located at 286 Lanh Binh Thang Street in HCMC's District 11. … [Read more...]

Sai Gon Heat aim high

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HA NOI (VNS)— Viet Nam's first and only professional basketball team, Sai Gon Heat, will take part in the ASEAN Basketball League next month, the Tuoi Tre (Youth) daily reported yesterday. On simmer: Sai Gon Heat player Jonathan Jones (right) vies with a Chang Thailand Slammers player. The Sai Gon Heat will join ASEAN Basketball League action next month. — Photo bongrovietnam.com Cinnor Nguyen, executive director of the club, was quoted by the newspaper as saying that it targeted a place in the top four in the bloc's major basketball tournament, which will see the participation of teams from Thailand, Malaysia, Singapore, Indonesia and the Philippines. The tournament is in its fourth season and this is the second time Sai Gon Heat have taken part following their sixth place finish last year. The HCM City-based team will play Westports Dragons of Malaysia in the first match which starts on January 12 at HCM City's Tan Binh Gymnasium. It will play a total of 20 matches until … [Read more...]

SBV: Growth at any cost is undesirable

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Vietnam will strive to attain a sustainable and environmentally-friendly economic growth, said the governor of SBV. SBV Governor Nguyen Van Giau State Bank of Vietnam (SBV) Governor Nguyen Van Giau said during the Bank Governors' Seminar, part of the Asian Development Bank's (ADB) 44th annual meeting in Hanoi, that the costs of growth should be taken into consideration. According to Giau, Vietnam is one of the two developing countries in the world that could be most impacted by climate change. "Estimates say that if the sea level rises by one metre, it would directly impact 10 per cent of the population, which would have an equal impact on the GDP," Giau said. He said the country should take immediate steps to prevent the negative effects of economic growth. He called on Asian nations to join hands to tackle the issue, along with a contribution from the ADB. He also highlighted the significance of coordination between governments and the public in pursuing a sustainable … [Read more...]

ADB: Vietnam must avoid “average-income trap”

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As Vietnam continues to develop it is also in danger of falling into the "average-income trap", said an official from the Asian Development Bank. Deputy Prime Minister Hoang Trung Hai Prof. Kenichi Ohno At the Vietnam Business Summit, held in Hanoi on May 3, ADB Chairman Haruhiko Kuroda said that Vietnam should pay more attention to improving the quality of its human resources, one of the most important factors that could help the country avoid this "trap". What's an average-income trap? Prof. Kenichi Ohno, from Japan Policy Research Institute University of San Francisco Centre for the Pacific Rim, explained that such a situation occurs when the economy of a country reaches a threshold which it cannot pass because of a reliance on natural resources and other limited economic advantages. He noted that growth based on FDI, ODA, natural resources, large investment projects, securities and realty is not sustainable for the long term, which must rely on value created by … [Read more...]

American veteran’s ‘Saigon Gold’ novel published in Vietnam

An American author, who is a veteran from the Vietnam War, has been in Ho Chi Minh City to promote his debut novel, 'Saigon Gold'. The book by Hugh Scott tells about Robert Anderson who returns to Vietnam to atone for the civilian casualties during the war by the Americans. But soon after checking into the Caravelle Hotel in HCM City, he is pulled into a dangerous scheme to help a war-time friend recover a gold fortune that sank in the Sai Gon River in 1975. The proceeds from the first 1,000 copies of the book will be donated to a Vietnamese charity, possibly one connected with the Rotary International Club, the author says, who hopes that the book will encourage other American authors to write for readers in Vietnam. Mr Scott, aged 71, was a newspaper reporter, financial manager, and part-time instructor at the University of San Francisco and the UC Berkeley International Diploma Program. Being published by the The Gioi Publishers in Hanoi, 'Saigon Gold' is also … [Read more...]

American veteran promotes debut novel

American author Hugh Scott was recently in Ho Chi Minh City to promote his debut novel, Saigon Gold. The book tells the story of Robert Anderson who returns to Vietnam to seek atonement for the civilian casualties during the American War. But soon after checking into the Caravelle Hotel in HCM City , he is thrust into a dangerous scheme to help a war-time friend recover a fortune in gold that sank in the Sai Gon River in 1975. Anderson meets a Viet Kieu (overseas Vietnamese) romantic interest, Jenny Ngo, and the stakes quickly escalate. Unaware they are being watched, Anderson and Ngo frantically race the length of scenic Vietnam in a desperate effort to elude their deadly pursuers. … [Read more...]

Vietnamese poems to make impressive debut in US

Nguyen Do (R) A contemporary poetry collection of Vietnam will be published in the US for the first time in a large number of copies. Titled "Hanoi Misses You: An Anthology of Contemporary Vietnamese Poetry", this collection introduces 17 Vietnamese and 4 overseas Vietnamese poets. Paul Hoover and poet Nguyen Do, who is living in Sacramento in the US, are the poetry collection's translators. Talking about his fate meeting with Paul Hoover, Nguyen Do said that after he and poet Hoang Hung had visited Paul's house in San Francisco, Do wrote an English poem and sent it to Paul. Paul immediately appraised it and made a few corrections so it sounded native English. From then on, Do started realising his dream of translating Vietnamese contemporary poems (composed since 1945) and some works of Nguyen Trai - a poet and a national hero of Vietnam - into English. 151 short poems and "Binh Ngo dai cao" (Proclamation of Victory over the Ngo) by Nguyen Trai have been translated by the pair … [Read more...]

Tourist Park faces US$4.47 million penalty

After launching an overall inspection over Dai Nam Joint Stock Company--runner of Dai Nam tourist park--in the southern province of Binh Duong, the province’s inspectorate has required the company to pay nearly VND100 billion (US$4.47 million) in tax and fine for administrative violations. Dai Nam tourist park has been built and operated without land use right certificate (Photo: SGGP) At a news conference held by the province’s People’s Committee yesterday to announce the inspectorate’s conclusion, committee permanent deputy chairman Tran Thanh Liem said that the conclusion had been made and validated by the committee’s chairman after four months of inspection from January till May. In 2009-2014 when Mr. Huynh Uy Dung was director general of Dai Nam Company, it used 25.2 hectares of land for the tourist park without land use right certificate. The company has also used land for purposes different from construction licenses, for instance, it has … [Read more...]

Binh Duong Province fines Dai Nam JSC $4.5 million

BINH DUONG (VNS) — Authorities in the southern province of Binh Duong yesterday slapped the Dai Nam Joint Stock Company, which owns Dai Nam Tourism Park, with back taxes and fines of VND99 billion (US$4.5 million). Inspections of the company's books from 2009 to 2014 found it had not accurately followed accounting norms and ended up paying VND97.7 billion ($4.45 million) less in taxes than it should have, they said. Its other violations include deviating from the licence terms in terms of number of floors and size at four construction sites and failing to get licences for 167 completed structures. The company has used around 25 hectares of land at Dai Nam Tourism Park without getting approval; it sold land plots instead of apartments at Song Than 3 Industrial Park; it completed a trade centre in 2011 but has not put it to use as agreed until now; eight of its projects lack the official report about environment impacts, with some also failing to report environment protection … [Read more...]

Free heart disease screening for Dak Lak poor children

Over 300 disadvantaged children from 1-16 years old across the Central Highlands province of Dak Lak have received free screening check-up to detect congenital heart diseases under a programme conducted at the provincial General Hospital in late April. The programme, named "Trai tim Hang Huu", was funded by the Dai Nam Joint Stock Company and carried out by the provincial Children Sponsoring Fund in conjunction with the Ho Chi Minh City Medicine and Pharmacy Hospital. Besides disease screening, the programme has financed surgery for over 200 poor children with heart-related diseases from Binh Dinh, Binh Duong, Binh Phuoc, Can Tho, An Giang and Hau Giang provinces as of April this year. In Dak Lak alone, 19 child patients of heart diseases have received free surgery under the programme. According to Lam Dinh Nhiem, Director of the provincial Children Sponsoring Fund, the programme has committed 3 billion VND in 2014 and 2015 to fund examination and operations for children with … [Read more...]