A study has revealed that four out of six Vietnamese dollar billionaires have origins in East Europe. These individuals operate profitable businesses in key sectors of the national economy.
Several well-known names in the real estate sector include Vingroup, Masterise, Sun Group, EuroWindow, MIK Group, TNR Holdings, and Phu Long. In the banking sector, VPBank, OCB, VIB, MSB, and Techcombank are reputable names. Masan is famous in consumer goods manufacturing, while Vietjet is known in the aviation industry.
Nguyen Canh Son and Eurowindow empire
Eurowindow Holding, founded in 2007, manages direct and portfolio investment capital in subsidiaries related to building materials, interior furnishing, real estate, construction, finance, and banking. In recent years, Eurowindow has made significant developments in the real estate sector with large land holdings across the country.
Major projects of Eurowindow include Eurowindow River Park, Eurowindow Garden City, Eurowindow Twin Parks, Nghia Do Urban Area, Movenpick Resort Cam Ranh, and Radisson Blu Resort Cam Ranh, displaying the ambition of the founder, Nguyen Canh Son.
As of June 30, Eurowindow reported stockholder equity of VND7.834 trillion, total assets of VND15.276 trillion, and post-tax profit of VND24 billion. Son is recognized as an influential businessman and also serves as the vice president of Techcombank.
In Techcombank’s administration report, it is mentioned that his relatives include Nguyen Thi Phuong Hoa, his wife, and Nguyen Canh Son Tung, his son.
Tung holds leadership positions at various companies and has a significant stake in Hanoi-Moscow Trade Center Investment (Incentra) and TCB shares at Techcombank, among other roles. He is also the son-in-law of VPBank president Ngo Chi Dung.
Nguyen Chi Dung – a well known banker
Prior to becoming the president of VPBank, Dung held the position of deputy chair of Techcombank from 2006-2010. He and his family members collectively hold a significant number of VPBank shares.
Dang Khac Vy, the owner of one of most profitable banks
While some businessmen with East European origins are public figures, others, like Vy, the owner of VIBBank, maintain a low profile. VIBBank has recorded significant profits and is listed as one of the 10 most profitable banks with a high return on equity. Vy and his family hold a substantial number of VIB shares.
Vy is also the founder and president of Mareven Food Holding Ltd, operating in East and West European markets. Pham Nhat Vuong, Nguyen Thi Phuong Thao, and Ho Hung Anh are among the Vietnamese dollar billionaires recognized by Forbes.
Manh Ha
