VietNamNet Bridge - Many Vietnamese businessmen are well known in the country not only because they have trillions of dong worth of assets, but also because they are brothers as well as billionaires.

Many Vietnamese businessmen are well known in the country not only because they have trillions of dong worth of assets, but also because they are brothers as well as billionaires.

In 2015, the Saigon Securities Incorporated (SSI) gained post-tax profit of nearly VND1 trillion, a sharp growth rate of 30 percent compared to the year before. The owner of the 15-year old SSI is a well-known name – Nguyen Duy Hung. 

Hung started his business with only VND6 billion, but he now has trillions of dong and runs the largest securities company in Vietnam.

Hung is famous in Vietnam also for many big business affairs, from the fight with the foreign partner in Bibica sweets manufacturing company to investment deals which brought ‘super profits’ in plant seed and seafood companies.

Nguyen Duy Hung started his business with only VND6 billion, but he now has trillions of dong and runs the largest securities company in Vietnam.

Analysts believe Hung gained great success thanks to cooperation with the two brothers. 

In the Bibica case, for example, Hung was backed by Nguyen Manh Hung, one of his brothers. The two younger brothers are called ‘pioneering generals’ who implement affairs led by the ‘securities baron’.

Both Manh Hung and Hong Nam, the two young brothers, are also powerful businesspeople who run large businesses.

Manh Hung is chair of Duong Mat Troi Company. He also has a private company – Nguyen Sai Gon, which, together with Hung, received 22.3 million SSI shares, or 6.3 percent of SSI’s capital, from ANZ Bank.

Meanwhile, Hong Nam has been a member of SSI since the first days of its operation, working as deputy CEO and member of the board of directors.

Nam also runs a private company, the Sai Gon Dan Linh, a real estate firm which holds 26.3 million SSI shares, or 5.5 percent of SSI’s stake.

The brothers Nguyen Canh Son and Nguyen Canh Hong are more discreet than Hung and his two brothers. However, Son’s and Hong’s ambitions are in no way smaller.

Son is not a well-known name in Vietnam, but the business owned by him is very well known. 

He is now chair of Eurowindow Holding (EWH) and deputy chair of Techcombank. 

Hong is the managing director at businesses belonging to Eurowindow Holding, including Eurowindow and Me Linh Plaza.

Doan Nguyen Duc, who is considered one of the Vietnamese most influential businessmen, has eight brothers and all of them are businessmen. Of these, Doan Nguyen Thu is the closest brother to Duc. It is Thu who helped Duc and Hoang Anh Gia Lai Group, a real estate developer, jump into the agricultural production sector.

Meanwhile, Nguyen Duc Thuy and Nguyen Xuan Thuy both are well-known for their investment deals in many business fields, including construction. They are both famous super-car collectors and have investments in football clubs.

M.Ha