Pham Nhat Vuong still in the world’s billionaires list

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VietNamNet Bridge - Pham Nhat Vuong, founder and chairman of conglomerate Vingroup, remains the sole Vietnamese cited in Forbes magazine's annual list of the world's richest people. With an anonymous source worth at least US$1.6 billion, Vuong ranked 1.092 out of a record setting 1.645 billionaires who made the list released on March 3. Forbes estimates that in 2013, Vuong netted US$1 billion through a mix of investments and private equity and real estate deals. He also participated in … [Read more...]

Pham Nhat Vuong in the world’s billionaires list

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(VOV) - Pham Nhat Vuong, founder and chairman of conglomerate Vingroup, remains the sole Vietnamese cited in Forbes magazine's annual list of the world's richest people. With an anonymous source worth at least US$1.6 billion,Vuong ranked 1.092 out of a record setting 1.645 billionaires who made the list released on March 3. Forbes estimates that in 2013, Vuong netted US$1 billion through a mix of investments and private equity and real estate deals. He also participated in a high profile … [Read more...]

Richest families earn money from property, finance sectors

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VietNamNet Bridge - Though the real estate market has been cool for a long time with the prices bottoming down, it remains a profitable business which helps a lot of Vietnamese families get rich. The most brilliant businessmen in real estate sector While the cash flow to the stock market on the last days of 2013 was so weak, it made a lot of stocks fall in price. VIC shares of Pham Nhat Vuong, a real estate billionaire, were still traded at VND70,000 per share, a high price level. HAG shares … [Read more...]

BUSINESS IN BRIEF 22/9

Dong Nai receives $1bn FDI The southern province of Đong Nai has attracted more than US$1 billion from foreign direct investment (FDI) despite the economic downturn, said Bo Ngoc Thu, director of the province's planning and investment department. The figures places the southern province third nationally in attracting FDI after Binh Dương Province, also in the South, and the northern city of Hai Phong. In the past eight months, Đong Nai has granted investment licences to 34 enterprises with … [Read more...]

Internal audits are necessary: experts

Thanh Thuong He was speaking at ‘Putting investors at the heart of the financial system’ workshop held by UK-based Association of Chartered Certified Accountants (ACCA) and Grant Thornton in HCMC on Monday. Participants at the workshop shared the view that in the future, accounting and auditing standards should be revised, or financial information disclosure should focus more on what investors need. Andy Ho, managing director of VinaCapital Investment Fund, said investors need … [Read more...]

Low labor quality hinders investments in Mekong

This view was shared by local businesses and foreign investors at a seminar on investment promotion for Can Tho City and the Mekong Delta co-organized by the Vietnam Chamber of Commerce and Industry (VCCI), the 2030 Business Club under the Saigon Times Club and Can Tho Promotion last Friday in HCMC. Ha Xuan Anh, chairman of Son Viet Garment Corporation, known for the fashion brand Relax, said the Mekong Delta, with around 18 million people, 22% of the national population, is considered a … [Read more...]

BVSC completes biggest M&A deal

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Bao Viet Securities Company (BVSC) announced it has successfully completed the merger of Vinpearl into Vincom, Vietnam's biggest ever merger. Accordingly, 158 million new shares issued by Vincom for Vinpearl shareholders will be officially traded on Ho Chi Minh Stock Exchange (HoSE) on February 3, marking a milestone for the biggest merger deal. All Vinpearl shares (VPL) will then be converted into Vincom (VIC) shares and the new company would be renamed the Vietnam Investment Group … [Read more...]

Cash-starved firms should look to foreign money: experts

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With banks tightening credit, foreign investment was now domestic firms' main hope for raising working capital, analysts said at a meeting held in Ho Chi Minh City Thursday. DongA Bank deputy general director Nguyen Thi Kim Xuyen said banks only provide loans to companies in essential sectors like pharmaceuticals and gasoline and for importing agricultural machinery. … [Read more...]