Vietnamese on global lists of super-rich

Who are the super-rich?

VietNamNet Bridge – Official statistics show that Vietnam has two dollar billionaires and hundreds of super-rich, but the actual figure is believed to be higher if it includes the hidden billionaires. The number of super-rich Vietnamese people has been increasing rapidly despite the economic recession. The latest "Billionaire Census 2014" by Wealth-X and UBS showed that Vietnam was among 14 Asian countries with dollar billionaires. In 2014, the number of dollar billionaires increased to two with total assets of $3 billion. The report did not show the names of the two billionaires. However, one of them is assumed to be Pham Nhat Vuong, chair of Vingroup, who was named in Forbes’ list of billionaires. Vuong is reported to have assets worth $1.6 billion, ranking 1,149th on the list of the world’s billionaires. The other billionaire remains unknown. However, names have been mentioned, including Nguyen Thi Nga from BRG Group and SeABank, Vu Van Tien from Geleximco, Dao … [Read more...]

T&T win maiden trophy at U21 football

Ha Noi T&T's U21 football team yesterday defeated Vinh Long 2-0 in the final at Lach Tray Stadium in Hai Phong City to win the U21 football championship for the first time.— File Photo

HA NOI (VNS)- Ha Noi T&T's U21 football team yesterday defeated Vinh Long 2-0 in the final at Lach Tray Stadium in Hai Phong City to win the U21 football championship for the first time. Minh Hai scored the opening goal in the last minute of the first half and Van Thanh sealed the game for the Ha Noi-based team as in the second half he successfully converted a penalty after Van Tam was fouled in the box. Song Lam Nghe An and Hai Phong shared third place. Tran Dinh Truong, who is also the best scorer with three goals, was named the best player of the tournament, while the best goalkeeper title was awarded to Nguyen Van Cong of T&T. The annual tournament is organised by Thanh Nien (Young People) newspaper with the participation of eight teams from across the country. -- VNS … [Read more...]

Hanoi T&T claim national U-21 title

Hanoi T&T celebrate their win

Nhan Dan Online - A convincing 2-0 victory over Vinh Long on October 6 lifted Hanoi T&T to their first-ever title at the 2013 Thanh Nien (Youth) Newspaper National U-21 Football Championships.>> Thanh Nien Newspaper U-21 Football Championships opens in Hai Phong Hanoi T&T played offensively from the start, launching fierce waves of attacks towards the Vinh Long goal, but failed to convert their chances. It was not until first-half stoppage time that Minh Hai put Hanoi T&T in front with a powerful strike fired from outside the penalty box. The 1-0 advantage inspired the Hanoi men to play comfortably for the remainder of the match. In the 59th minute, Hanoi T&T were awarded a penalty after Van Tam was brought down in the box. Van Thanh doubled the lead with a perfect penalty kick, sealing a 2-0 win for his team. As champions, Hanoi T&T walked away with VND250 million (US$11,750) in prize money, while runners-up Vinh Long received VND120 million … [Read more...]

Famous overseas Vietnamese

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VietNamNet Bridge - They are Vietnamese who have settled and attained great success overseas to become millionaires or billionaires. They are considered the most successful Vietnamese in the world. They are proud to be Vietnamese and always willing to help the Vietnamese expatriates. Tran Dinh Truong (1932-2012) is considered the world's richest Vietnamese with assets of about US$1.2 billion. Truong started hotel business in New York City, with Opera and Carter hotels (near Times Square and Lafayette Hotel in Buffalo, New York.) … [Read more...]

Public comments on National Assembly Q and A session

(VOVworld)-Voters nationwide are closely following developments in the National Assembly Q and A session which is broadcast live on TV and radio. Many agreed on answers by some ministers while others are not satisfied with their unclear accountability. Voter Nguyen Manh Yen from Lao Cai province: "People in remote and mountainous areas are facing more difficulties. Adjustment of gasoline price must take into account development levels among regions."Voter Tran Dinh Truong from Da Nang City calls for more drastic measures to resolve non performing loans:"The governor should take the lead in the transparent banking system to supervise the industry. Monetary policy difficulties must be addressed throughout the banking sector, the State Bank and its branches." … [Read more...]

The richest Vietnamese overseas

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(VOV) - More and more Vietnamese are doing business overseas and many of them have become US dollar multi-millionaires. 1. Tran Dinh Truong-Vietnamese billionaire in America Born in Ha Tinh province businessman Tran Dinh Truong currently possesses assets worth nearly US$1 billion, including a number of luxury hotels in New York, most notably the Carter Hotel in Times Square. Truong was first involved in maritime transport for a long time and owned numerous fleets including the Truong Xuan, Truong Thanh, Bong Hong 9, Sao Mai, Patrich, Truong Vinh, Truong Hai and Truong Sinh shipping companies. He later began his hotel business in New York with the Opera, Carter and Lafayette Hotels. Although he is always up to his eyes in work, he is still a benefactor of charity projects and tries to help Vietnamese people living in America. In 2004, he was honored with the Golden Torch Award in Washington D.C. Unfortunately, Truong died in May 2012, without seeing his trade centre in … [Read more...]

Media in search of the richest in Vietnam

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As the Lunar New Year 2007 approaches - the first year Vietnam has entered the WTO, local media has gone to great lengths to find out who is the richest person in Vietnam. Following are some candidates. Local Dai Doan Ket newspaper early this month listed the richest Vietnamese nationals living in Vietnam into two groups: those earning their fortune through stocks and those getting rich through other means. Leading the first group, which does not count land and other incalculables, is Truong Gia Binh, president cum director of FPT, a giant telecom company. … [Read more...]

Hoang Anh Gia Lai sells Da Nang hotel

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The new owner, who is an Australian-Vietnamese, gave the hotel a new brand name, One Opera Da Nang Hotel, in April. — Photo agoda.com DA NANG (Biz Hub) — The Hoang Anh Gia Lai Group has sold its five-star hotel to HCM City-based Hong Lam company for US$25 million. An unofficial source said the deal, which includes the 22-storey building and land, was signed in April and the hotel was handed over to the new owner in mid-April. The new owner, who is an Australian-Vietnamese, gave the hotel a new brand name, One Opera Da Nang Hotel, in April. This is the first project in the central city that the Hoang Anh Gia Lai Group has sold. The group has also developed a residential project, the Hoang Anh Gia Lai Lake View Residence. In 2013, the group sold six hydropower projects worth US$200 million, including four already in operation. The group has also invested $300 million in a trading complex in Myanmar and $36 million to upgrade the International Attapeu Airport. It is … [Read more...]

HAGL imports more than 1,300 tonnes of sugar

Workers pack bags of sugar at Hoang Anh Attapeu Sugar Cane Co.Ltd's factory in Attapeu, Laos. The Hoang Anh Gia Lai Group imported more than 1,300 tonnes of sugar from Laos in June. — Photo hagl.com.vn

HA NOI (Biz Hub) — The Hoang Anh Gia Lai Group imported from Laos more than 1,300 tonnes of sugar worth US$803,320 in June through the Bo Y International Border Gate in the Central Highlands province of Kon Tum. The Group provided this information in its monthly report to the Ministry of Industry and Trade (MoIT) and the Ministry of Finance. The sugar was produced by Hoang Anh Attapeu Sugar Cane Co. Ltd, a subsidiary of Hoang Anh Gia Lai (HAGL) Group, in Attapeu, Laos. On May 27, 2015, the MoIT had issued Circular 08, which fixed the quota for import of Laos sugar at 500,000 tonnes per year and said traders importing sugar from Hoang Anh Attapeu Sugar Cane Co. Ltd would enjoy an import tax rate of 2.5 per cent. Traders are allowed to complete the procedures for sugar imports at the border gates, without having to seek prior permission from the MoIT. In the first quarter of this year, the Vietnamese firm earned more than VND298 billion (US$13.5 million) from sugar, accounting … [Read more...]

Tickets for Man City-Vietnam match not yet a ‘hot cake’ as expected

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‘A possible fever’ from football fans hunting for a ticket to watch the friendly match between English Premier League side Manchester City and the Vietnamese men’s national football team in two weeks has not occurred in the last few days. Expensive prices are likely the main reason. Ticket sales started on July 10, but only 50 people have visited the office of the Vietnam Football Federation (VFF) to book wholesale purchases. This is quite different from the match with Arsenal in 2013, when thousands of fans queued up in long lines while jostling one another to buy tickets. Tran Duc Linh said he went to the VFF to book 30 tickets for his workplace, lender Agribank, in Hanoi. Others came to book several tickets each. The match tickets are available at four prices – VND1.8 million (US$83), VND1.5 million ($69), VND1 million ($46) and VND600,000 ($27.6). Prices for the match against Arsenal two years ago were VND1.5 million ($69), VND1 million ($46), … [Read more...]

Tycoons pay millions of USD to invite int’l celebrities to VN

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VietNamNet Bridge – Saying they "wanted to do something for the country," several Vietnamese moguls have spent millions of US dollars to invite foreign celebrities to Vietnam to inspire youth and football teams.1. Chairman of Hoang Anh Gia Lai Group Doan Nguyen Duc & Arsenal FC When Duc invited Arsenal, the leading football club from England to Vietnam in 2013, the public raised many money-related questions to the boss of the HAGL Group. The tycoon insisted that it was impossible to make money by organizing the match between Arsenal FC and the Vietnam national football squad. "I want to do something for Vietnam, to warm up sports movements in our country; I’ve never thought about making money from this," he said. "It’s better to make money from doing business and production, and not seek profit from football." However, economic experts did not think so. Duc might not directly earn money from this match, but the game could bring him a lot of money. Mr. Vo … [Read more...]

HAGL Focuses on High-tech Agriculture Investment

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Hoang Anh Gia Lai Group (HAGL) has announced big investments in the agricultural sector in recent years. This move of HAGL is consistent with Vietnam’s overall development objectives in particular and of our times in general. Its investment projects have proven that the HAGL brand has developed into a world class entity, capable of cooperating in high-tech agriculture and other high value-added sectors with big partners on the international arena. To get an overview of HAGL’s achievements, Vietnam Business Forum interviewed Mr Vo Truong Son, CEO of HAGL. Van Luong reports.Despite domestic and global economic difficulties in recent years, HAGL still has steady investment and business growth. How did the group achieve that impressive result? HAGL has performed corporate restructuring by reducing its interests from real estate and focusing on agriculture with a suitable diversity, including sugarcane, maize, palm oil, rubber and dairy farming. This business restructuring and … [Read more...]

President Truong Tan Sang visited and worked in Laos

President Truong Tan Sang and Lao Party General Secretary, State President Chummaly Sayasone inaugurate Attapeu International Airport. Photo: Vietnam News Agency

At the invitation of the General Secretary of the Central Committee of the People’s Revolutionary Party of Laos, President of the People’s Democratic Republic of Laos Chummaly Sayasone, President of the Socialist Republic of Viet Nam Truong Tan Sang paid a high-level visit to Laos and attended the inauguration of Attapeu International Airport on 30 May, 2015. Members of the delegation also included Mr. Nguyen Xuan Phuc, member of the Politburo, Deputy Prime Minister of the Socialist Republic of Viet Nam, Chairman of the Viet Nam-Laos Cooperation Sub-Committee. Attapeu International Airport is one of the key build-transfer project in southern Laos with a total investment of US$ 36 million with funding from Viet Nam’s Hoang Anh Gia Lai Group and built by the Lao Government from May 2013 to May 2015. The airport is a key project of great political and socio-economic significance, a transport, economic, political, and national defense connection between Viet Nam and … [Read more...]

PM ends Myanmar visit on high note

NAY PYI TAW (VNS) — Initiatives by Prime Minister Nguyen Tan Dung at the seventh Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit and the sixth Ayeyawady-Chao Phraya-Mekong Economic Co-operation Strategy (ACMECS) Summit were welcomed by member states. During the CLMV Summit, the Vietnamese PM and leaders of Cambodia, Laos and Myanmar reiterated their commitment to foster the traditional relationship, neighbourliness and co-operation for mutual interest. Reviewing the progress of their two-year co-ordination, they adopted an action plan in economics and trade to facilitate trade and investment. Participating countries will spread the one-stop-shop inspection model at international border gates, utilise the potential of trans-national economic corridors such as the East-West Economic Corridor and the southern economic corridor, while developing policies to encourage investment in agriculture, industry and energy. The PM once again reiterated the Vietnamese Government's commitments … [Read more...]

Review of Doan Nguyen Duc’s huge assets in Laos

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VietNamNet Bridge – The Hoang Anh Gia Lai Group is now the biggest Vietnamese investor in Laos. The following is a review of the company’s brand building and its current assets in Laos.Rubber farms In 2008, when the real estate market was still "hot", HAGL Group’s boss Doan Nguyen Duc began investing in planting rubber in Attapeu, which is seen as the ideal land for developing rubber farms. With the help of Thai scientists and Israeli modern irrigation technology, just four years later, 3,000 hectares of rubber of Hoang Anh Attapeu Company yielded the first tons of latex. Duc has 25,000 hectares of rubber, which can yield 100,000 tons of latex per year, bringing in revenue of $300 million a year and creating 15,000 permanent jobs for local people. In 2013, HAGL Group inaugurated a rubber processing factory with total investment of $9 million, using modern technological lines, with a capacity of 25,000 tons/year. Cow raising In October 2014, Duc began … [Read more...]

PM Nguyen Tan Dung cheers Vietnamese investors in Myanmar

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PM Nguyen Tan Dung at the 7th Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit (Photo:VNA) Prime Minister Nguyen Tan Dung attended a ceremony on June 23 to mark the completion of the first phase of construction of the Hoang Anh Gia Lai Myanmar Centre in Myanmar during his visit to the country to attend the 7 th Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit and the 6th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit . The PM also participated in a similar event on the same day to inaugurate activities of the financial and insurance companies of the Bank for Investment and Development of Vietnam (BIDV) in Myanmar. He praised the Association of Vietnamese Investors to Myanmar (AVIM), BIDV and the Hoang Anh Gia Lai Group for their efforts to promote trade and investment activities in Myanmar, saying positive business results reaped by Vietnamese firms in the country contributed practically to the bilateral relations. While highlighting the potential for the two … [Read more...]

Vietnam sees increase in indirect investment

The US investment group Global Emerging Markets (GEM) is seeking opportunities to invest in Vietnam to take advantage of the country’s growth potential thanks to its young population, said Chris Brown, GEM President. Brown held that with a large and young population, the 90 million-strong Vietnamese market has abundant development potential and plentiful investment opportunities. Earlier this month, GEM successfully posted nearly 20 million exchange stocks between the US Mass Noble Investments Limited and Vietnam’s Duc Long Gia Lai Group (DLG) with a price of 12,500 VND (0.57 USD) per share and a rate of 1:1.4, said Brown. With this transaction, the DLG has become the first firm to buy a foreign company through exchanging stocks, officially owning Mass Noble and the ANSEN factory in China . So far, GEM has announced investments in four Vietnamese firms, including the FLC Group, Hoang Huy Group, Duc Long Gia Lai Group and Hoang Anh Gia Lai Group. According to … [Read more...]

PM Nguyen Tan Dung praises Vietnamese investors in Myanmar

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PM Nguyen Tan Dung speaking at a ceremony to mark the completion of the first phase of construction of the Hoang Anh Gia Lai Myanmar Centre in Myanmar (Photo: VNA) NDO/ VNA- Prime Minister Nguyen Tan Dung attended a ceremony on June 23 to mark the completion of the first phase of construction of the Hoang Anh Gia Lai Myanmar Centre in Myanmar during his visit to the country to attend the 7th Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit and the 6th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit. The PM also participated in a similar event on the same day to inaugurate activities of the financial and insurance companies of the Bank for Investment and Development of Vietnam (BIDV) in Myanmar. He praised the Association of Vietnamese Investors to Myanmar (AVIM), BIDV and the Hoang Anh Gia Lai Group for their efforts to promote trade and investment activities in Myanmar, saying positive business results obtained by Vietnamese firms in the country contributed … [Read more...]

Farm produce sales discourage potential investors

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VietNamNet Bridge - The agriculture industry has lost its luster among industrial manufacturers and service providers. Tycoons are quietly withdrawing money from agriculture projects, just several years after pouring big money into the sector. Gemadept’s board of directors, for example, has submitted to the company’s shareholders a plan to disinvest from the projects in non-core business fields. The company, established as a shipping firm, plans to sell all the rubber, industrial crops and real estate projects once the shares can go for good prices. A senior executive of the company said rubber trees have cost too much, and rubber is not the company’s core business field. Just a few years ago, Do Van Minh, Gemadept’s CEO, said that growing rubber was the way the company could grow rapidly. Gemadept’s rubber project in Cambodia is still running well and has brought some initial benefits. The company in 2013 got a certificate on the land use … [Read more...]

Minister grilled over agricultural woes

Minister of Agriculture and Rural Development Cao Duc Phat fields queries posed by NA deputies at the legislative body’s ask-and-answer session in Hanoi Thursday - PHOTO: NATIONAL ASSEMBLY

Thuy Dung Deputy Nguyen Van Tuyet of Ba Ria-Vung Tau Province stressed the importance of combining efforts of Government agencies, scientists, farmers and businesses to ensure sustainable development of the sector. However, this goal has not has not been realized and farmers are still grappling with many challenges in selling their products though the Prime Minister issued a relevant decision more than 10 years ago. Deputy Nguyen Thi Kim Be of Kien Giang Province shared Tuyet’s view, saying that farmers in the Mekong Delta have suffered losses from sweet potato, shrimp ad tra fish farming. She attributed these losses partly to the inefficient implementation of Decision 80/2002/QD-TTg. Minister Phat admitted the reality, saying the ministry last year deployed a program to cement cooperation among Government agencies, scientists, farmers and businesses for rice production and more than 100 enterprises pledged to help farmers with farming support and consumption of rice … [Read more...]