Hanoi (VNS/VNA) - Billionaire Pham Nhat Vuong has moved up in theForbes rich list as of October 25, 2018.
According to Forbes’ website, Vuong ranked 228th on the list of the world’srichest people, with a net worth of 6.5 billion USD.
This is the highest place ever for Vuong, owner of real estateconglomerate Vingroup and Vietnam’s first billionaire, reported the Lao Dong(Labour) newspaper.
The billionaire jumped up from 235th place two weeks ago. However, in the trading session on October 25, domestic stock indexes fellsharply due to global volatility.
As a result, a series of strong stocks slumped, including VIC of Vingroup ownedby Vuong.
This was the third consecutive session in which VIC has fallen. In the twoprevious sessions, the code decreased by 100 VND to 99,000 VND per share and 200VND to 98,800 VND on October 23 and 24, respectively.
On October 25, the price of VIC dropped by 2,000 VND to 96,800 VND per share.
After the reduction over several sessions, the total value of the billionaire’sassets dropped by 200 million USD.
Pham Nhat Vuong studied in Russia and started a popular instant noodle businessin Ukraine in the 1990s before moving back to Vietnam.
Vuong chairs Vingroup, one of Vietnam’s largest conglomerates with interests inreal estate, retail and health care among others.
He turned some investments into non-profit ventures, including some inhealthcare, education and sports. He also built a centre of contemporary art.-VNS/VNA
Two Vietnamese, Vingroup chairman Pham Nhat Vuong and Sovico Holdings chairwoman Nguyen Thi Phuong Thao, have featured in the Forbes’s 2017 world’s billionaires list.
Leading business conglomerate Vingroup, one of the nation’s largest real estate developers and a retail sector giant, targets higher revenues but lower net profit this year.
Four Vietnamese tycoons, named in Forbes Billionaires 2018, share a common interest in investing in agricultural development or businesses dedicated to benefiting Vietnamese farmers and the poor.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Billionaire Pham Nhat Vuong
