By Dat Nguyen  January 17, 2019 | 06:51 pm GMT+7 Shoppers at a mall in District 1, Ho Chi Minh City. Photo by VnExpress/Thanh Nguyen Vietnam ranks fourth among the world’s top 10 countries with the fastest millionaire population growth, a new report says. The country’s High Net Worth (HNW) population is set to grow by 10.1 percent each year in the 2018-2023 period, says wealth research firm Wealth-X. This growth rate is only lower than Nigeria at 16.3 percent, Egypt, 12.5 percent and Bangladesh, 11.4 percent, says the report, which covered over 540,000 HNW individuals in the world. The report defines HNW population as those with a net worth between $1 million and $30 million. The world’s HNW population grew by 1.9 percent last year from 2017 to 22.4 million people with a combined wealth of $61.3 trillion. About 25 percent of the world’s HNW population were located in Asia last year, and their total wealth was $15.48 trillion. Although the … [Read more...] about Vietnam’s millionaire population growth among world’s fastest
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BUSINESS NEWS IN BRIEF 15/1
Azerbaijani investors eye Vietnamese marketAzerbaijani investors with strong financial capacity and professional performance are keen on landing investments in Vietnam, has said Anar Imanov, Azerbaijani Ambassador to Vietnam.In his remarks at a recent workshop themed “Meet Azerbaijan” in Hanoi, the Azerbaijani Ambassador highlighted Azerbaijani enterprises' advantage of plentiful capital and practical experience in implementing projects in Europe, adding that many are seeking investment opportunities in Vietnam.As one of the world’s leading crucial oil and gas producers and suppliers, Azerbaijan also has great potential to boost its bilateral cooperation with Vietnam in three key fields, including tourism, logistics, and agriculture. The diplomat cited a FAM tour jointly held by the Azerbaijan Embassy in Vietnam and Qatar Airways last year as a big effort to bolster tourism cooperation between the two countries.The FAM tour provided many Vietnamese tourism … [Read more...] about BUSINESS NEWS IN BRIEF 15/1
Vingroup’s major move: enters list of top 10 firms in Vietnam
It advanced five places to sixth in the 12th annual rankings done by research company Vietnam Report (VNR). The list includes mostly state-owned giants: Vietnam Electricity, PetroVietnam, military telecom company Viettel, petroleum retailer Petrolimex, lenders Agribank and BIDV, and Vietnam Airlines. Topping the list is Korean giant Samsung Electronics Co., also the biggest foreign investor in Vietnam. The firm has invested $17.3 billion in eight factories and one research and development center in the country, creating jobs for more than 160,000 locals. Exports from Samsung Electronics’ factories in Vietnam totaled $54 billion last year, accounting for around a quarter of the country’s total export revenue. Its two cellphone factories in Bac Ninh and Thai Nguyen provinces in northern Vietnam produce around half of all the cellphones that Samsung supplies to the global market. Samsung Electronics and Japanese automobile and motorbike maker Honda, which is in … [Read more...] about Vingroup’s major move: enters list of top 10 firms in Vietnam
BUSINESS NEWS IN BRIEF 1/9
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
Vietnamese billionaire rockets onto world’s top 300 rich list
By Minh Son  March 28, 2018 | 03:42 pm GMT+7 Pham Nhat Vuong is chairman of real estate mega-corporation Vingroup and Vietnam’s first billionaire. Vingroup chairman Pham Nhat Vuong's worth has increased by $2 billion in just a month thanks to rocketing share prices. A Vietnamese businessman has made it onto the list of the world’s 300 richest people with an estimated fortune of $6.1 billion. Pham Nhat Vuong is chairman of real estate mega-corporation Vingroup and Vietnam’s first billionaire, and was ranked 298th on the list compiled by Forbes. His net worth has increased by $2 billion from just a month ago when he made headlines for being one of only four Vietnamese billionaires listed by Forbes. Vuong’s rise is mainly due to his company's shares repeatedly breaking stock market records. Vingroup’s share price (VIC) stood at VND113,000 ($5.04) at the end of the last trading session, up by 200 percent from last August. … [Read more...] about Vietnamese billionaire rockets onto world’s top 300 rich list