Three Vietnamese on Forbes Asia’s 50 power businesswomen

Three Vietnamese women have been named on US business magazine Forbes' list of Asia's 50 Power Businesswomen 2016.

The businesswomen are Cao Thi Ngoc Dung, chairman and CEO of Phu Nhuan Jewelry (PNJ); Nguyen Thi Phuong Thao, co-founder and chairman of Sovico Holdings; and Thai Huong, chairman of milk supplier TH Group.

Cao Thi Ngoc Dung founded PNJ in 1998. Starting with one store, she built PNJ into the biggest jewellery brand in Vietnam, with over 3,000 employees and 200 stores. In 2015, PNJ reported revenue of USD 350 million and profit of USD 23 million. Dung owns 17 percent of PNJ, which was listed on the stock exchange in 2004.

Nguyen Thi Phuong Thao, who runs both HD Bank and VietJet Air. Photo: vnexpress.net

Nguyen Thi Phuong Thao cofounded and is a major shareholder in Sovico, which owns the commercial HD Bank and international budget airline VietJet Air, both of which she runs. HD Bank merged with Dai A Bank in 2014 and is now among the largest joint-stock commercial banks in Vietnam, with total assets of nearly USD 5 billion, 10,000 employees and 225 branches and offices.

Since its launch in 2011, VietJet Air, which is planning an IPO, has grown its fleet to 29 aircraft, taken the lion's share in the local air transport market and carried 20 million passengers.

Thai Huong is revamping the dairy industry with her focus on liquid rather than powdered milk. Last year, she decided to invest up to USD 2.7 billion in agriculture in Russia, starting with a USD 500 million dairy farm. Her goal is to own a herd of 350,000 cows producing 1.8 million liters of milk per year.

TH Group's 2015 revenue and profit reached USD 215 million and USD 45 million, respectively. In 1994, Huong founded Bac A Bank, a joint-stock commercial bank with total assets of nearly USD 3 billion, serving as the investment and financial consultant for TH Group. She is the majority shareholder in both enterprises.

The list of Asia's Power Businesswomen 2016 comprises 50 outstanding representatives of many different business sectors from 14 countries. China dominated the list with 14 names, followed by India, Thailand and Singapore.

Forbes' selection this year was based on the criteria of company revenue, the position of the candidate in the company and their participation in the work.