More young faces take over billion-dollar corporations

Just a few days before Vietnam Entrepreneurs Day, October 13, DOJI Group appointed Ms. Do Vu Phuong Anh, daughter of founder Do Minh Phu, as the group's General Director.

Ms. Do Vu Phuong Anh has a doctorate and has worked for DOJI for 17 years, and was in charge of human resource management for this enterprise.

In addition, Ms. Phuong Anh is also the Chairwoman of DOJI Land, the real estate management company of DOJI Group. Ms. Do Vu Phuong Anh and her younger brother Do Minh Duc are also shareholders at TPBank, the bank chaired by Mr. Do Minh Phu.

This is a remarkable personnel move by one of the leading private enterprises in Vietnam. Ms. Phuong Anh is also considered a bright example of successor to Mr. Do Minh Phu's group.

DOJI is known as a business specializing in gold and silver, which has grown strongly in recent years. Currently, the group has 15 member companies, with hundreds of business centers and many agents and jewelry stores nationwide. Revenue is up to nearly 100,000 billion VND/year.

In recent years, many Vietnamese private corporations have grown to billion-dollar scale and the business has begun to be passed on to their children to develop further.

In mid-September, investors also witnessed young master Vu Tuan Kiet (1994) - the only son of the largest footwear corporation in Vietnam, Biti's, take on the position of CEO of the family's real estate company.

Despite his musical talent and formal training, Vu Tuan Kiet studied business professionally in England and Beijing from 2013-2016.

The Next Generation of Entrepreneurs in Banking

In the banking industry, many young masters and daughters of Vietnamese tycoons have been and are "filling" the leading positions left by the "F1 generation".

After the 2023 annual general meeting of shareholders, Saigon - Hanoi Bank (SHB) elected Mr. Do Quang Vinh, son of Mr. Do Quang Hien (Bau Hien) as Vice Chairman of the Board of Directors (BOD) for the 2022-2027 term.

Currently, Mr. Do Quang Hien is still the Chairman of SHB. However, Mr. Do Quang Vinh is considered a bright face for the highest leadership position at SHB in the near future.

Mr. Do Quang Vinh was born in 1989, has a master's degree in finance and management from the University of East Anglia (UK) and has 12 years of experience in the field of finance and banking. Mr. Vinh worked for many years in foreign enterprises and banks before returning to Vietnam in 2019.

In 2021, Do Quang Vinh became the youngest Deputy General Director of SHB. Currently, Mr. Vinh is the direct leader leading the implementation of strategy and comprehensive transformation of SHB Bank.

Do Quang Vinh also held a leadership role at SHB Finance, a subsidiary of SHB operating in the consumer finance sector. This unit has an agreement to transfer 100% of its charter capital to Thailand's Krungsri Bank, with a rumored value of up to 156 million USD.

At Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank), Mr. Duong Nhat Nguyen (1983) is the second generation in Hoa Lam Group of Mr. Duong Ngoc Hoa and Mrs. Tran Thi Lam. Mr. Nguyen was elected Chairman of VietBank from the end of April 2021.

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Many second generation entrepreneurs are very successful.

Mr. Nguyen's education is also very impressive compared to the previous generation of businessmen, with a bachelor's degree from Greenwich University (UK) and a master's degree in Business Administration from Devry University (USA). This young master joined the Vietbank Executive Board in early 2013 as Deputy General Director and has held many important positions since then.

At Orient Commercial Joint Stock Bank, Mr. Trinh Van Tuan has held the position of Chairman for more than a decade. His daughter Trinh Thi Mai Anh (born 1992) is currently a member of the Board of Directors of this bank. She is also a rare 9x female face on the Board of Directors of a bank in Vietnam.

Trinh Thi Mai Anh graduated from the London School of Economics and Political Science (UK) and has worked at HSBC London, VinaCapital, Temasek Group Singapore... Mai Anh owns more than 40 million OCB shares, equivalent to 2.29% ownership ratio, worth about 810 billion VND.

Faces of success

Recently, investors have been amazed when “the chairman sings for one night more than the marketing team runs for a month”. A second-generation businessman has led a leading private bank in Vietnam in a methodical manner but is like a real artist when performing and singing.

Mr. Tran Hung Huy has followed in the footsteps of his family (Mr. Tran Mong Hung and Ms. Dang Thu Thuy) to steer ACB Bank for the past decade. However, this second-generation businessman is still youthful and positively inspires young Vietnamese people.

Chairman of ACB Bank Tran Hung Huy (born in 1978) is known as the young leader who revived ACB after the crisis associated with the ACB Bau Kien case. In the last 5 years, ACB recorded increasing profits every year and maintained the lowest bad debt ratio in the system. In 2012, Mr. Huy became the youngest bank chairman, at the age of 34.

Mr. Tran Hung Huy has an impressive education with a bachelor's degree in 3 majors: business administration, finance, international business; then a master's degree from Chapman University and a doctorate from Golden Gate (USA).

Mr. Huy is one of the 45 richest people on the Vietnamese stock exchange, currently owning ACB shares (as of October 10, 2023) worth about VND 2,900 billion.

At SeABank, after a period of holding the position of CEO with many successes, Ms. Le Thu Thuy, daughter of Ms. Nguyen Thi Nga, stopped holding the position of General Director but continued to participate in bank management as Vice Chairwoman of the Board of Directors.

During Ms. Thuy's tenure as CEO, SeABank has had many positive changes. In March 2021, SeABank officially listed more than 1.2 billion SSB shares on the Ho Chi Minh City Stock Exchange - HOSE (HSX) with a reference price of VND 16,800/share. Currently, SeABank shares are priced at about VND 24,600/share. SeABank has a capitalization of more than VND 60,000 billion.

SeABank is one of the mid-sized banks with the strongest growth in recent years. The bank's profits have increased many times, reaching the trillion threshold in the past 3 years. Charter capital has also increased sharply, from 5,465 billion VND at the end of 2018 to more than 20,000 billion VND.

Ms. Thuy is also highly educated, with a bachelor's degree in Business Administration and a bachelor's degree in Banking and Finance from George Mason University, USA. Her daughter Nga currently owns more than 48 million SSB shares of SeABank, worth about VND1,500 billion.

Investors also witnessed prominent second-generation businessmen such as Mr. Dang Hong Anh at Sacomreal; Ms. Dang Huynh Uc My at Mr. Dang Van Thanh's sugar empire; Le Thi Dieu Minh at Minh Phu Seafood...

It can be seen that in recent years, private corporations have continued to grow, despite the difficulties caused by the pandemic or the instability in the world. Young entrepreneurs - the second generation - have entered the market, gradually taking over and confidently steering billion-dollar "ships".

This is a generation with a good educational background, qualifications and training as the Vietnamese economy shifts and integrates deeply with the world.

This class of entrepreneurs promises to contribute more to the country, on its way to becoming a developed economy by 2045.

Vietnamnet.vn