Sumary of Vietnam has produced a new class of billionaire entrepreneurs:
- Nov 27th 2021Hong KongTHE ECONOMIC development of Vietnam now has a permanent monument in one of the world’s most prestigious seats of learning.
- Whereas American and Chinese billionaires are in the cross-hairs from their respective governments, Vietnam’s wealthy entrepreneurs are the beneficiaries of the authorities’ ambition to foster internationally competitive national champions.
- All four share a curious start to their entrepreneurial stories: they originally launched commercial ventures in the former Soviet Union.
- The Soviet link is a function of Vietnam’s modern economic and political history.
- Mr Vuong launched a brand of instant noodles, Mivina, which became a domestic staple in Ukraine.
- Later, as Vietnam’s development continued, they were some of the few citizens outside the country with starter fortunes to invest at home.
- Nguyen Xuan Phuc, the prime minister, spoke recently of Vietnam’s need to produce internationally competitive business giants to continue its rapid growth.