According to the latest update from Forbes ' real-time billionaire ranking , Vietnam has just added three new individuals with assets of $1 billion or more: Ms. Pham Thu Huong, Ms. Pham Thuy Hang, and Mr. Ngo Chi Dung, bringing the total number to eight.
Interestingly, many Vietnamese billionaires, such as Pham Nhat Vuong, Masan Chairman Nguyen Dang Quang, and VPBank Chairman Ngo Chi Dung, all started their businesses with instant noodles in Eastern Europe.
Billionaires Pham Nhat Vuong, Pham Thu Huong and Pham Thuy Hang - Mivina Noodles
Pham Nhat Vuong, Chairman of the Board of Directors of Vingroup, once started his career by running restaurants and producing instant noodles in Kharkov, Ukraine.
During the period 1996-2002, when the economic and financial crisis occurred and rationing was applied to a wide range of goods in Ukraine, Mr. Pham Nhat Vuong and his associates began producing instant noodles under the name Mivina.
Starting with a factory employing just 30 workers, Mr. Pham Nhat Vuong expanded to numerous branches in Ukrainian cities, and very quickly, Mivina instant noodles became a dominant brand throughout the country. It even expanded its reach and is now widely sold in 30 countries worldwide, including Estonia, Lithuania, Latvia, Moldova, Poland, Germany, and Israel.
In the early 2000s, when business was booming, Pham Nhat Vuong decided to sell his business in Kharkov and return to Vietnam to start his own venture. Not stopping at instant noodles, businessman Pham Nhat Vuong expanded into many other fields, creating the powerful and solid empire he has today.
Masan Chairman Nguyen Dang Quang
Since the 1990s, Mr. Nguyen Dang Quang - Chairman of Masan Group - started his business by selling instant noodles to Vietnamese people living in Russia.
After some time, Mr. Quang built a factory with a production capacity of 30 million packets of instant noodles per month and later expanded his investments into soybeans, fish, and chili sauce. At its peak, Masan's sales of instant noodles and chili sauce reached $100 million.
Mr. Nguyen Dang Quang once shared that more than 20 years ago, Vietnam's economy was still facing many difficulties, and people's needs were simply to fill their stomachs, with the quickest way being a packet of instant noodles. One day, he realized that not only Vietnamese people needed instant noodles, but also over 140 million Russians. From selling noodles only to Vietnamese people in Russia, the Chairman of Masan has been dubbed "the man who taught Russians how to eat instant noodles."
VPBank Chairman Ngo Chi Dung - Rollton Noodles
Before becoming Chairman of the Board of Directors of Vietnam Prosperity Commercial Bank (VP Bank), Mr. Ngo Chi Dung also started his career in Russia with instant noodles. His instant noodle company, Rollton, was quite famous and popular in Russia. This is also the instant noodle brand that "defeated" Masan, owned by Mr. Nguyen Dang Quang, forcing Masan to withdraw to Vietnam.
In 2012, at the 6th Congress of the Association of Vietnamese Enterprises in the Russian Federation, held in Moscow, Rollton Company was highly praised and recognized for its outstanding achievements. This was especially true regarding the creation of jobs for thousands of Vietnamese people living and working in Russia, as well as for Russian citizens.
Along with Mr. Ngo Chi Dung, Mr. Dang Khac Vy (Chairman of VIB) is known as the founder of the famous Rollton noodle brand in the land of white birch trees, which remains popular to this day.
Mr. Dang Khac Vy remains the Chairman of Mareven Food Holdings, the parent company of Mareven Food Central, which holds 46% of the Russian instant noodle market share with an annual consumption of 2 billion servings. Mareven's products are also exported to 25 countries.
In 2008, the Vietnamese owners of Mareven Food Central sold 33.5% of their shares to Nissin (a major Japanese noodle company) for $296.4 million, equivalent to a valuation of $885 million at the time.
In Vietnam, Mr. Dang Khac Vy and VIB Bank have a close relationship with Uniben - a top 5 instant noodle manufacturer with the "3 Mien" and "Reeva" brands.
Source: https://vtcnews.vn/5-trong-8-ty-phu-do-la-cua-viet-nam-tung-khoi-nghiep-tu-mi-an-lien-ar1001272.html
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