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...]

Vietnam’s private giants turn to farming

TH true MILK is strongly promoted through its modern branding (Photo: vietnamnet.vn)

(VOVworld) – Vietnam’s agriculture is receiving an increase of domestic and foreign investment. To use the investment flow effectively, the Vietnamese government has promulgated mechanisms and policies to remove obstacles for businesses. An increasing number of businesses, including major groups, have been investing in the agriculture sector. The TH Group, Vietnam's third-largest dairy company, has invested in agriculture since 2009 with a project in Nghe An province to raise dairy cows and process milk on a large scale using high-technology. The TH Group, which is famous for its TH True Milk brand, has 45,000 cows and produces as much as 900,000 liters of milk a day. Encouraged by the success of the TH Group, other private giants have expanded their investment in the agriculture sector - property conglomerate Hoang Anh Gia Lai, steel group Hoa Phat, and Vietnam’s largest property developer Vingroup. According to Tran Manh Bao, Chairman and Director … [Read more...]

Industrialists pour money into agriculture as last resort

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VietNamNet Bridge - Investing in agriculture projects is a choice made by industrialists who have realized that the profits in their core business fields have dried up. "Hoa Phat Group makes trillions of dong worth of profit every year. But our shareholders don’t want dividends. They want to see the money to be re-invested in other projects. And we have chosen agriculture projects," said Tran Tuan Duong, CEO of Hoa Phat Group. Duong said that he decided to inject money into the agriculture sector after he considered investment opportunities in many different business fields, including BOT (build, operation, transfer) transport and hydropower projects. "The animal feed market is estimated to have the value of $7 billion a year. Meanwhile, the steel market is worth roughly $5.5 billion. You can see that the animal feed market is not as small as people think," he said. Doan Nguyen Duc, chair of Hoang Anh Gia Lai Group, a big real estate developer, has been praised as … [Read more...]

HAGL’s first subsidiary to be listed, will its boss become the richest in VN?

The rubber farm of HAGL.

VietNamNet Bridge – Well-known in the fields of real estate and football, the Hoang Anh Gia Lai Group (HAGL) operates in many industries. It has 31 subsidiaries operating in the fields of real estate, construction, services, mining, agriculture and hydropower. The parent company HAGL is listed on the stock market. However, in mid-2015, the first "child" of HAGL - Hoang Anh Gia Lai Rubber Joint Stock Company - will show up on the stock exchange. Before listing on the bourse, the company was renamed Hoang Anh Gia Lai International Agricultural JSC (HAGL AGRICO) in early April. Hoang Anh Gia Lai plans to list HAGL AGRICO in the Ho Chi Minh City Stock Exchange (HOSE). The listing is scheduled for completion by the end of July. Hoang Anh Gia Lai will transfer ownership of shares in the Highland Dairy Cows Company for HAGL AGRICO. By December 31, 2014, Hoang Anh Gia Lai owned 92.13% stake in HAGL AGRICO. Thus, HAGL AGRICO is the first subsidiary of Hoang Anh Gia Lai to be listed on … [Read more...]

Investors quit real estate market despite recovery

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VietNamNet Bridge - Though there are signs the real estate market is recovering, many investors are still leaving it quietly. This may become a growing tendency in 2015 and upcoming years. A big player in the Vietnamese real estate market, the Hoang Anh Gia Lai Group caused a big surprise when it unexpectedly announced in August 2013 it would withdraw capital from real estate projects in Vietnam and focus on two business fields – agriculture and property projects overseas. Large investment funds have also left the playing field for many reasons. VinaCapital, for example, has withdrawn capital from real estate projects since 2013. Five projects were transferred in the year, while one was transferred in January 2014. Vietnam Property Fund Limited managed by Dragon Capital has successfully sold 4.2 million Hoang Anh Gia Lai shares. Meanwhile, Spinnaker GEMF Ltd, a big shareholder of Ninh Van Bay Tourism JSC sold 3.15 million Ninh Van Bay shares, or 5.21 percent of the … [Read more...]

Public-private farms draw foreign interest

Farmers are picking up tea leaves in Moc Chau province under a PPP project. PPP in agriculture has drawn foreign interest. — Photo canthotv.vn

HA NOI (Biz Hub) — Millions of tonnes of farm produce have been already been produced in Viet Nam under public-private partnerships (PPP); however, this is considered just the beginning. Five years ago, Metro Cash & Carry Viet Nam and Cargill Corporation of the United States joined hands to carry out a PPP project in fisheries in conjunction with the Ministry of Agriculture and Rural Development.. The model focuses on identification of potential fish breeds and directs farmers to the designated model serving the domestic market. During the first period of the project, they worked with authorities in the Mekong Delta provinces of Hau Giang, An Giang and Ca Mau to organise training programmes in aquaculture. The programmes were attended by 300 farmers and 80 representatives from fish breeders and their associations. Under the project, a centre for receiving, processing and packaging fishery products, was set up in the Mekong Delta city of Can Tho in 2011. In six months, … [Read more...]

Domestic sugar refineries oppose sugar imports from Laos

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VietNamNet Bridge - The Vietnamese-owned Hoang Anh Gia Lai Group has received approval from the government to import 50,000 tons of sugar made in Laos, creating concern among domestic sugar companies. Deputy Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Industry and Trade (MOIT) to add 50,000 tons of sugar from Hoang Anh Gia Lai Group in Laos to the 2015’s sugar import quota. The imports will be taxed 2.5 percent. The decision was released after a long debate between policy makers and domestic sugar companies about whether to allow imported sugar from Laos when the domestic output can satisfy domestic demand. Hoang Anh Gia Lai Group asked for a preferential tax rate of zero percent for imports from Laos. The proposal then faced strong opposition from the members of the Vietnam Sugar Cane and Sugar Association. The association has even raised doubts about the capability of Hoang Anh Gia Lai. "If Hoang Anh Gia Lai can make sugar at competitive prices, … [Read more...]

HAGL to import 50,000 tonnes of sugar

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Hoang Anh Gia Lai Group is allowed in principle to import 50,000 tonnes of sugar from Laos. — Photo kinhdoanhnet.vn HA NOI (Biz Hub) — The Government has agreed in principle to allow the Hoang Anh Gia Lai Group (HAGL) to import 50,000 tonnes of sugar from Laos at a tax rate of 2.5 per cent. The group had invested in sugar and produced it in Laos. The ministries of agriculture and rural development and industry and trade have agreed to the quota and have submitted the proposal to Prime Minister Nguyen Tan Dung for approval. Earlier, the HAGL Group filed a petition to allow it to import crude sugar from Laos, which will be processed in Viet Nam and then exported to China. According to commitments made to the WTO, Viet Nam must allow 81,000 tonnes of sugar to be imported as raw material this year. The import quota has been raised by five per cent each year from 50,000 tonnes in 2007, when the country joined the WTO. More than 310,000ha of land is under sugarcane … [Read more...]

Three richest Vietnamese men step into agriculture

The three richest Vietnamese men on the local stock exchange have already entered, or announced that they will, agriculture, from vegetable planting and livestock farming to animal feed manufacturing to keep up with rising demand for quality produce from the market. Vietnam’s top realty developer, Vingroup, last week proposed that authorities in the northern province of Quang Ninh allow the firm to set up large-scale farms for vegetables, fruits, and other agricultural products in the locality, according to news website VnExpress. The firm’s plan was warmly welcomed by both leaders of the Ministry of Agriculture and Rural Development and the provincial authorities, Quang Ninh has a population of 1.2 million and is home to tens of thousands of workers from other areas working in industrial zones across the province, plus seven million foreign and local tourists each year. Vingroup, about 30% of which is owned by Pham Nhat Vuong, the richest man in Vietnam with a net worth … [Read more...]

Three richest Vietnamese men step into agriculture to meet local demand

Vietnam’s top realty developer, Vingroup

The three richest Vietnamese men on the local stock exchange have already entered, or announced that they will, agriculture, from vegetable planting and livestock farming to animal feed manufacturing to keep up with rising demand for quality produce from the market. , last week proposed that authorities in the northern province of Quang Ninh allow the firm to set up large-scale farms for vegetables, fruits, and other agricultural products in the locality, according to news website VnExpress. The firm’s plan was warmly welcomed by both leaders of the Ministry of Agriculture and Rural Development and the provincial authorities, Quang Ninh has a population of 1.2 million and is home to tens of thousands of workers from other areas working in industrial zones across the province, plus seven million foreign and local tourists each year. Vingroup, about 30 percent of which is owned by Pham Nhat Vuong, the richest man in Vietnam with a net worth Forbes said topping US$1.7 … [Read more...]

Local groups pour capital in agriculture projects

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VietNamNet Bridge – The head of Hoang Anh Gia Lai Group, Doan Nguyen Duc, was the first who invested in agriculture and had great success. Many other big bosses have followed Duc by pouring money into this field. In 2008 when Duc began planting more than 150,000 hectares of rubber in Attapeu (Laos), the real estate was very hot. At that time, many people doubted the effectiveness of Duc’s strategy and questioned why Duc did not invest in real estate like others. Four years later, in 2012, Duc invested in planting sugarcanes and processing sugar as sugar mills in Vietnam operated at a loss and sugarcane growers could not find outlets. People again doubted the success of Duc’s "odd" investment strategy. Last April Duc implemented a 5,000 hectare maize project in Laos. After six years since he began investing in agriculture, Duc now owns 46,000 hectares of rubber, 10,000 hectares of sugar cane and 6,000 hectares of corn in Vietnam, Laos, Cambodia and … [Read more...]

Nutifood builds milk factory in Ha Nam province

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The ground-breaking ceremony of the Nutifood milk factory in Ha Nam province NDO - Nutifood Vietnam kicked off construction on March 19 of a dairy factory in the Kien Khe industrial cluster in Ha Nam province. Touted as the largest milk factory in the northern region, the facility is located on a premise covering ten hectares with total cost estimated at VND1.6 trillion (US$73.6 million). The factory is designed to produce 200 million litres of liquid milk and 31,000 tonnes of powdered milk annually. Its capacity in the first phase from the second quarter of 2015 to the second quarter of 2016 is expected to reach 80 million litres of liquid milk and 10,000 tonnes of powdered milk. The factory will run at its maximum capacity in the second phase from the third quarter of 2016 to the first quarter of 2018. Speaking at the ground-breaking ceremony, Deputy Prime Minister Hoang Trung Hai asked Nutifood to complete the factory on schedule while paying attention to environmental … [Read more...]

VFF President Nguyen Thien Nhan visits Myanmar

President of the Vietnam Fatherland Front Nguyen Thien Nhan met with representatives of Vietnamese businesses and Myanmar managerial agencies in Yangon (Photo: VGP/Tuan Anh)

(VOVworld) - Vietnam and Myanmar need to work on the establishment of a State committee on economic cooperation and the signing of a double-taxation avoidance agreement to boost trade, said President of the Vietnam Fatherland Front (VFF) Nguyen Thien Nhan on Tuesday. At a meeting with representatives of Vietnamese businesses and Myanmar managerial agencies in Yangon during his friendship visit to Myanmar, the VFF President shared Vietnam’s experience in foreign investment management to help local authorities remove business bottlenecks. As part of his visit to Myanmar, Nhan met with the Chief Minister of the Yangon Region to introduce cooperation opportunities. He also pointed out some obstacles faced by Vietnamese firms who want to invest here and asked the Chief Minister to help resolve these matters. Earlier, Mr. Nhan visited a commercial complex invested by the Hoang Anh Gia Lai group in Myanmar, a symbol of cooperation between Vietnam and Myanmar. … [Read more...]

Vietnam’s business tycoons turn to farming

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Steel group Hoa Phat has announced plans to establish a company specializing in livestock breeding and animal feed production. With a chartered capital of VND300 billion ($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. Investment of … [Read more...]