The decision of Vingroup to jump into the smartphone market, which is entering its most difficult period, has surprised many people. Technology experts believe that making smartphones is not Vingroup’s long-term goal.

Today, the position of each nation does not only depend on the richness of its historical and cultural traditions. The leading factor now is its economic potential, including two sides, wealthy people and a strong country.

VietNamNet Bridge - Vietnam’s dollar billionaires have become well known worldwide.

 Vingroup, T&T to develop urban railway projects in Hanoi, Bio-fuel consumption makes up 30% of gasoline sales in HCMC, Stock market cap equivalent to 70.2% of GDP, Vietnam pays US$10.5-billion debt as of mid-December

VietNamNet Bridge - Expanding the scale of their business and jumping into new business fields is the path being followed by conglomerates with powerful financial capability.

Pham Nhat Vuong has kicked off an automobile manufacturing project Vinfast. Nguyen Duy Hung has successfully protected Bibica brand. 

VietNamNet Bridge - The role of real estate billionaires and their contribution to the national economy remains a controversial matter.

VietNamNet Bridge - More and more investors have injected money into agriculture, even though the sector is believed to have many latent risks.

VietNamNet Bridge - Real estate developers are seeking land plots in the suburbs, especially in areas with good infrastructure development, as available space in the inner city is diminishing. 

VietNamNet Bridge - By developing transport infrastructure projects under the mode of BT (build, transfer), investors are willing to pour capital into projects if there are reasonable policies. 

Vietnam has over 200 super-rich people who have $30 million and more. The figure is lower than that of Singapore (2,170), Indonesia (1,950) and Thailand (1,250).

It is necessary to create a market where privately run conglomerates will play the pivotal role. This must be associated with a system of policies which encourage the development of the private economic sector. 

VietNamNet Bridge - The long-term demand of the market has prompted large corporations to spend trillions of dong making food, although 2017 is expected to be a tough year.

VietNamNet Bridge - In the last 10 years, Vietnam has seen the establishment of private joint stock companies operating in many different business fields.

Big companies in steel, real estate and securities sectors have announced investments in agriculture projects, but they remain quiet about their profits from the projects.

VietNamNet Bridge - Vietnam has been witnessing a new wave of investments in hospitals since 2015 after the government called for different sources of funding in the healthcare sector.

VietNamNet Bridge - The ongoing patient overload at state-owned hospitals and the $2 billion that Vietnamese spend on overseas healthcare services are drawing more investors to hospital projects. 

Vingroup, owned by Pham Nhat Vuong, and Vietjet, owned by Nguyen Thi Phuong Thao, two dollar billionaires on Forbes’ 2017 list of the world’s billionaires, had good business performances in 2016. 

Quang Binh, the land in Vietnam’s central region, is expected to have a new life as it has become the homeland of Kong and the area where many big real estate groups have landed. 

VietNamNet Bridge - Vingroup, Novaland, FLC and SunGroup are expected to continue to lead the property market in 2017. They are all big players in the real estate market, but each of them follows its own way.