return icon

Vietnamese billionaire among world’s 200 richest people

Billionaire Pham Nhat Vuong has for the first time moved up to the top 200 of the Forbes’ rich list as of July 31.



Billionaire Pham Nhat Vuong (Photo: Forbes)


According to Forbes’ website, he ranked 194th on the list, with a net worth of 8.25 billion USD.

This is the highest place ever for Vuong, owner of multi-business conglomerate Vingroup and Vietnam’s first billionaire.

Earlier on July 29, his assets were 8.1 billion USD, up 1.5 billion USD compared to Forbes’ statistics in March, thus the billionaire jumped up from 239th place to 204th.

The growth of Vingroup’s shares, notably of Vinhomes JSC (VHM) and Vincom Retail (VRE), is attributable to the surge of Vuong’s assets.

Vuong studied in Russia and started a popular instant noodle business in Ukraine in the 1990s before moving back to Vietnam.

Vuong chairs Vingroup, one of Vietnam’s largest conglomerates with interests in real estate, retail and health care among others.

Vietnam has three other billionaires in the Forbes list. They were Tran Ba Duong, chairman of Thaco – the biggest car company of the country, with a net worth of 1.7 billion USD; Ho Hung Anh, chairman of Vietnam Technological and Commercial Joint Stock Bank (Techcombank) with 1.6 billion USD; and Nguyen Dang Quang, chairman of consumer goods and natural resources firm Masan Group with 1.3 billion USD.

Jeff Bezos, founder and CEO of online retail site Amazon, topped the Forbes list with a 155.2 billion USD fortune.

Bezos was followed by Microsoft founder Bill Gates who had 104.5 billion USD and Bernard Arnault – CEO of LVMH, the world's largest luxury-goods company – with 100.62 billion USD.-VNA


Vietnam’s economic growth counts on high-tech FDI

Vietnam’s economic growth has been accelerating in 2022, with experts considering high-tech foreign investments as a driver.

The “seven-star” islands in Quang Ninh

Along with crystal blue sea and beaches, the 7 Sao (seven star) islands also have caves and primeval forests.

Customs you only see in Vietnam

The travel site Culture Trip has listed a number of Vietnamese customs that often surprise foreign tourists:

Investors and buyers play waiting game in credit switch

The State Bank of Vietnam finally created extra credit room for some banks on September 7. However, the extension is deemed low and may not help real estate businesses and homebuyers access feasible capital sources for their projects.

Woodwork exports to EU, US drop as consumers cut spending

Many woodwork manufacturers complain that exports have been sliding as people in target markets have been tightening their purse strings.

Vietnam: new destination for multinationals to set up R&D centers

Vietnam wants to upgrade foreign direct investment (FDI) quality by manufacturing products with higher hi-tech and added value, and multinationals are also striving to do this after many years in Vietnam.

Huge real estate projects seek new investors

Many investors have quit large-scale investment projects capitalized at trillions of dong.


Work starts on Tan Van-Nhon Trach section of HCM City’s Ring Road No.3

Three Vietnamese airlines named among world’s best air services

Vietnam Airlines, Vietjet Air, and Bamboo Airways have been honoured in different categories by Skytrax, a UK-based site which ranks airlines and airports.

Vietnam Days Abroad 2022 to take place in Austria, India, RoK

Vietnam Days Abroad 2022 will be held in Austria, India, and the Republic of Korea (RoK) on the occasion of the anniversaries of diplomatic relations between Vietnam and these countries.

UN backs Vietnam’s development priorities: Secretary-General

The United Nations (UN) will continue paying attention to and support Vietnam's development priorities towards green and sustainable orientations, and just transition, especially in terms of financial access.

Vietnam merits seat at UN Human Rights Council: Washington Times

The Washington Times has published an article in which it supports Vietnam's candidacy for the United Nations Human Rights Council (UNHRC) for the 2023-2025 term.

Storm Noru to enter East Sea, localities warned to stay alert

The National Centre for Hydro-Meteorological Forecasting has predicted that storm Noru will enter the East Sea on September 25 evening, and recommended coastal localities to brace themselves for the storm.

Vietnam plans to vaccinate under-5 children against COVID-19 if there’s scientific basis

The Ministry of Health has asked provinces to calculate the number of children from 6 months old to under 5 years old to prepare a plan on COVID-19 vaccination for them when there are enough conditions and scientific basis.


Untapped opportunities for Vietnamese pepper exports to UK