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...]

Local football coaches reluctant to take on national team

Nguyen Huu Thang and Le Huynh Duc (left to right)

Despite the Vietnam Football Federation claiming it wants to employ a local coach for the national team, they may be forced to look overseas for help as several domestic candidates seem reluctant to take over the vacancy left by Toshiya Miura. Le Huynh Duc, coach of SHB Danang FC and coach Nguyen Huu Thang of Song Lam Nghe An are current favourites. Duc rejected the offer in 2012 while Thang has yet to give a definite answer. Nguyen Huu Thang and Le Huynh Duc (left to right) Coach Hoang Anh Tuan also said he had to consider whether he was a good fit given the heavy expectations from fans and the VFF. "It takes at least a year to build a suitable playing style," he said. "Vietnamese players are quick but have terrible stamina." Hoang Anh Tuan Deputy chief of the Vietnam Football Federation Doan Nguyen Duc, who also chairs the Hoang Anh Gia Lai Group and owns Hoang Anh Gia Lai-Arsenal JMG Football Academy, said if they were unable to find suitable candidate, they would again … [Read more...]

Foreign investors sell net $56m of shares in January

HA NOI (VNS) — The net sale of shares worth VND1.25 trillion (US$56.2 million) by foreign investors in January contributed significantly to the decline of the stock market last month, data collected by two local bourses. At the end of January, the VN-Index fell 33.78 points, or 5.8 per cent, to touch 545.25 points on the HCM Stock Exchange (HoSE), while the HNX-Index declined 3.09 points, or 3.9 per cent, to reach 76.87 points on the northern bourse of the Ha Noi Stock Exchange (HNX). While the two bourses recorded the purchase of 201.2 million shares by foreigners, worth more than VND5.22 trillion ($234.1 million), they also reported the sale of 228.28 million shares, worth more than VND6.48 trillion ($290.3 million), by foreign investors. Thus, foreign investors sold a net 27 million shares, worth VND1.25 trillion ($56.2 million), in January. Foreign investors conducted net sales on HoSE for three consecutive months. Their net sale value in January was 34.6 per cent lower … [Read more...]

Foreign investors sell net VND1,248,380m of shares in January

HA NOI (VNS) — The net sale of shares worth VND1.25 trillion (USVND1,252,839 million) by foreign investors in January contributed significantly to the decline of the stock market last month, data collected by two local bourses. At the end of January, the VN-Index fell 33.78 points, or 5.8 per cent, to touch 545.25 points on the HCM Stock Exchange (HoSE), while the HNX-Index declined 3.09 points, or 3.9 per cent, to reach 76.87 points on the northern bourse of the Ha Noi Stock Exchange (HNX). While the two bourses recorded the purchase of 201.2 million shares by foreigners, worth more than VND5.22 trillion (VND5,218,674 million), they also reported the sale of 228.28 million shares, worth more than VND6.48 trillion (VND6,471,513 million), by foreign investors. Thus, foreign investors sold a net 27 million shares, worth VND1.25 trillion (VND1,252,839 million), in January. Foreign investors conducted net sales on HoSE for three consecutive months. Their net sale value in January … [Read more...]

VFF dismiss coach Miura

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Toshiya Miura has been dismissed as the coach of the Vietnamese national football team on January 28. Toshiya Miura The Japanese coach was sacked following a surprise meeting of Vietnam Football Federation (VFF), even though Miura only have two months left on contract. The decision was taking while Miura was on leave in Japan. VFF deputy chairman Tran Quoc Tuan said they ended the contract early because "Miura didn't create a suitable playing style for the team." The VFF are searching for temporary coach to lead the team to the qualifying rounds of AFC matches for the 2018 World Cup. Miura led Vietnam team to third place in AFF Cup 2014 and won bronze medals at the SEA Games in 2015. He was criticised recently for not winning the AFC U23 Championship 2016 and losing 3-0 against Thailand in a World Cup qualifying match. Deputy chief of the Vietnam Football Federation (VFF) Doan Nguyen Duc, who also chairs the Hoang Anh Gia Lai Group and owns Hoang Anh Gia Lai-Arsenal JMG Football … [Read more...]

Not Allowing Businesses to Miss the “Train” of Sustainable Development

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Within the last three months of 2015, State President Truong Tan Sang and Prime Minister Nguyen Tan Dung attended the two most important events for the future of sustainable development of the world, respectively the United Nations Summit on the Adoption of the 2030 Agenda for Sustainable Development in September, and the 2015 Paris Climate Conference (COP 21) in November. These reconfirmed Vietnam’s commitments to sustainable development where the business sector plays an extremely important role. Currently in Vietnam, very few companies have visions for sustainable development at the heart of their business strategies. This concerns people working to promote sustainable development in Vietnam. Looking to the world, sustainable development has become the focus of global agendas. The United Nations Sustainable Development Summit, held in September 2015, adopted 17 sustainable development goals (SDGs) for the 2015-2030 period. Remarkably, this is the first time 193 UN member … [Read more...]

VN Central Bank says Hoang Anh Gia Lai Group is not being inspected

A view of the HAGL Myanmar Centre. — Photo cafef.vn

The recent rumours about property and agriculture group Hoang Anh Gia Lai (HAGL) facing an inspection were groundless, State Bank of Vietnam (SBV) Deputy Governor Nguyen Phuoc Thanh said. Thanh has affirmed this to the local press, after some online forums last week posted a document carrying the central bank's requests for a review of the performances at the firm. The piece, signed by the central bank's deputy chief inspector, Nguyen Van Hung, required credit institutions to report on loans they lent the company and its production and business situation as of December 31, 2015. It also asked for specifications of the problems emerging in the lending process and the suggestion about debt reclaiming measures for the firm. Reports on these were to be submitted to the central bank before January 18. HAGL share prices continuously hit the floor and ended last week at a record low of VND7,900 (35 cents) per share on the HCM City Stock Exchange, as a result of the rumours. Thanh … [Read more...]

Unlucky days for Doan Nguyen Duc still sting

Hoang Anh Gia Lai Group now develops cow farming projects

VietNamnet Bridge - Doan Nguyen Duc, one of Vietnam’s most influential businessmen, had tough days with his business in 2015 and the first days of 2016. ‘Billionaire Census 2014’, a report of Wealth-X and UBS showed that Vietnam had two dollar billionaires with total assets of $3 billion. The names of the two billionaires were not mentioned in the report. However, the two billionaires are familiar in Vietnamese business circles. They were believed to be Pham Nhat Vuong and Doan Nguyen Duc. HAG saw the price drop dramatically by 56 percent from its highest peak of VND56,000 per share just within one year. The current price is just equal to 45 percent of the book value. The report could show the position of Duc in Vietnam. However, while 2015 was a lucky year for Vuong, it was not for Duc. Vuong has for the sixth consecutive year topped the list of Vietnamese stock millionaires. Meanwhile, Duc has fallen out of the top three stock millionaires and seen Hoang Anh … [Read more...]

Business Environment: Market Be Adjusted in Right Direction

To enable Vietnam’s economy and businesses to successfully integrate, there is no other way than the State creating a fair, equitable business environment for enterprises. In other words, the State must not "fear" the market. Still holding critical perspectives, the "Fundamental issues of economic restructuring in 2016-2020" study presented by Mr Nguyen Dinh Cung, President of the Central Institute for Economic Management (CIEM), however, has an optimistic ending: Huge and diverse opportunities are ahead of us. "I'm not unfoundedly optimistic. The economy is facing numerous challenges and weaknesses, but what I see is opportunities of the economy if we can solve those challenges," he explained. But the challenges which must be overcome to get opportunities in the coming time are not small, especially in the correlation of strengths and weaknesses presented by the CIEM study. According to Cung and his colleagues, the State will play a decisive role in future changes. "If State … [Read more...]

Clouds of concern descend on HAGL

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Hoang Anh Gia Lai Group’s stocks are expected to continue their downward trend in 2016 as the firm faces multiple challenges in the time ahead. Hoang Anh Gia Lai’s recent woes might continue in 2016 Photo: Le Toan On January 5, the stock prices of the group (HAGL) plummeted to VND9,600 ($0.42) per share, which is below their par value of VND10,000 ($0.44). This also marks the stock’s worst performance since its listing day in 2008. Throughout 2015, HAGL’s shares were on the ropes, with their prices falling by 122 per cent compared to the previous year. The firm’s market capitalisation slipped from VND17.5 trillion ($777 million) on January 1, 2015 to VND7.9 trillion ($351 million) on January 8, 2016. Its price-per-earnings ratio dropped to six and price-per-book value was only 0.47. Adding to the dim picture is the year-long selling spree by foreign investors. Before 2015, HAGL stock was a favourite among overseas investors, with 34 per cent of its … [Read more...]

Vingroup retains top spots on 2015 rich list

One-fifth of Vietnam’s richest stock-holders are real estate developers - Photo: Le Toan

The 2015 list of the 500 richest stockholders in Vietnam reveals that nearly one-fifth are in the real estate sector. According to a survey by VnExpress – Vietnam’s most widely-read online newspaper – and securities brokerage VNDirect, as the final bell tolled on the 2015 stock exchanges, the top 500 richest people (Top 500) owned more than VND102.9 trillion ($4.7 billion) in stocks, a 13 per cent jump on-year. Thanks to the warming of the property market, the stock value of this sector rose sharply, with 97 of the top 500 coming from real estate companies. The list of the top 20 richest people also included many property tycoons whose asset value reaches into the dozens of millions in US dollars. This list included Pham Nhat Vuong, chairman of Vietnam’s largest real estate developer Vingroup; Doan Nguyen Duc, chairman of multi-sector group Hoang Anh Gia Lai; Nguyen Van Dat, chairman of Phat Dat Real Estate Corporation; Dang Thanh Tam, chairman of HoSE … [Read more...]

10 richest people on Vietnam Stock Exchange in 2015

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VietNamNet Bridge – Vietnam’s only one USD billionaire Pham Nhat Vuong, the boss of Vingroup, retains the top spot, while tycoon Doan Nguyen Duc of Hoang Anh Gia Lai Group slipped to the third position, giving the second spot to the boss of Hoa Phat Group, Mr. Tran Dinh Long. The rankings this year saw some changes. Vietnam's stock market in 2015 witnessed several waves of ups and downs as oil prices plummeted, China devalued the yuan in August and foreign investors withdrew capital from emerging markets after the Fed raised interest rates for the US dollar for the first time in 10 years. By December 22, although the VN-Index increased by 4% compared with the beginning of the year, most of the shares of the top 10 richest people in the market tended to decrease. The list of the 10 richest people in 2015, based on the reports sent by businesses to the Vietnam Stock Exchange, also has significant changes in comparison with 2014. 1. Pham Nhat Vuong Vuong still takes … [Read more...]

Vietnam’s afforestation program fails

Thousands of hectares of forests have been cleared to make room for industrial crops

VietNamNet Bridge - Thousands of hectares of forests have been cleared to make room for industrial crops, but many project investors have ‘forgotten’ to plant new forests to compensate for land that was cleared. The government’s latest report showed that the afforestation program has been carried out in 23 out of 50 localities with forests having been planted on an area of 8,000 hectares, only 36 percent of the plan. Under the regulations, investors will have to plant forests to compensate for the forests they clear to get sites for public works. However, the regulations have been ignored. The Gia Lai provincial authorities plan to convert 66,457 hectares of forestland in 13 districts and towns into rubber growing areas by 2020. Under the project, thousands of hectares of forests have been cleared over the last eight years. About VND4.6 trillion has been spent to turn 32,555 hectares of forest land in five districts into rubber fields. However, the project has … [Read more...]

HAGL anchors shopping plaza in Myanmar

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(VOV) - Hoang Anh Gia Lai Group (HAGL), one of Vietnam’s premier property developers, has announced the grand opening of phase one of a US$300 million 40,000 square-metre shopping plaza in Yangon, Myanmar. "We currently have 95% of the space leased," a public relations officer of HAGL unveiled, noting that when all of the stores are fully stocked the centre will offer a plethora of brand name products for the customers shopping pleasure. The official said the project has been divided into two phase. "Phase one of the project is focusing on the shopping centre and completing construction on a one-star and five-star hotel while phase two will concentrate on constructing residential housing. He said plans are for phase two to take six to seven years to complete. … [Read more...]