Former German Vice Chancellor becomes Vietjet boss; Mr. Duc plans to grow mulberry trees and raise silkworms

(Dan Tri) - Former German Vice Chancellor becomes Vietjet boss, Mr. Duc reveals plan to lead Hoang Anh Gia Lai back to its golden age in 2008... are notable economic news of the past week.

Pig farming race of Vietnamese tycoons

Vietnam will rank 4th in the top 10 largest pork consuming countries in the world in 2024, according to a report by the Department of Animal Husbandry and Veterinary Medicine ( Ministry of Agriculture and Environment ). This year, Vietnam's total pork output reached 8.1 million tons, up 3.5% over the same period last year.

Vietnam's pork consumption has also been on an upward trend in recent years. If in 2021, each person consumed about 30kg/year, by 2024, the figure exceeded 37kg/year, an increase of about 23%. People's demand for pork is increasing, and in 2024, it ranked 4th in the world .

The pig farming market has great potential, in the context of increasing Vietnamese consumption. "Giants" such as Hoang Anh Gia Lai, Thaco and Hoa Phat have all joined the race to conquer this industry.

How the "boss" behind CP Group makes money

The Chearavanont family, owners of CP Group, is now Asia's second-richest family with an estimated fortune of $42.6 billion, according to the Bloomberg Billionaires Index. Surpassing all regional rivals, they top the list of the richest families in Thailand and Southeast Asia, second only to India's Ambani family.

Among the assets is CP Group's stake in Chinese insurer Ping An, which has multiplied in value since it bought the stake for $9.4 billion in 2012.

The Thai family business empire has also stepped up mergers and acquisitions (M&A) to expand its influence in the region.

Mr. Dhanin Chearavanont - Senior Chairman of Charoen Pokphand Group (Photo: Bangkok Post).

Petrolimex dismisses General Director Dao Nam Hai

The Board of Directors of the Vietnam National Petroleum Group (Petrolimex) issued a resolution to dismiss Mr. Dao Nam Hai from the position of General Director of the Group and suspend his membership in the Board of Directors, effective from May 30.

This decision was made more than 3 weeks after the Ministry of Finance decided to temporarily suspend Mr. Dao Nam Hai from his position as representative of State capital at this corporation.

Previously, after temporarily suspending the rights and obligations of Mr. Dao Nam Hai, the Ministry of Finance assigned Chairman of the Board of Directors Pham Van Thanh - the legal representative - to temporarily manage from May 8. The State capital portion at Petrolimex held by Mr. Hai was also transferred to Mr. Thanh.

Mr. Nguyen Tu Quang's company is late in paying bond debt.

Bkav Antivirus Software Joint Stock Company (Bkav Pro) announced unusual information about the situation of principal and interest payments on bonds.

Accordingly, on May 26, the payment deadline for nearly VND 163.3 billion in principal and more than VND 8.9 billion in interest of the bond lot coded BKPCB2124001 was due. However, this enterprise has been late in payment and is negotiating with bondholders.

Bond BKPCB2124001 was issued in May 2021 with a value of VND 170 billion, term of 3 years. Initial interest rate 10.5%/year.

In May 2024, the company was approved by bondholders to extend the bond for another year, with a new maturity date of May 26, 2025. The interest rate from the 37th month is 11%/year.

Many stores stop selling CP products

In response to worrying information surrounding CP Vietnam’s pork products, some food stores and units using CP Vietnam’s products as raw materials for processing have announced a temporary suspension of sales of this brand’s products. Some other stores have spoken out to reassure consumers about the source of raw materials for their business.

Some grocery stores and supermarket chains have stopped selling pork products or products made from CP Vietnam. They said they are waiting for official results from the authorities.

Some stores announced that they will temporarily stop selling CP products (Photo: Screenshot).

Former German Vice Chancellor becomes boss at Vietjet

Vietjet Aviation Joint Stock Company (stock code: VJC) announced the appointment of Mr. Philipp Rösler as a member of the Board of Directors for the 2022-2027 term.

Mr. Philipp Rösler was born in 1973 in Vietnam and was adopted by a German couple when he was a child. He is said to have over 30 years of experience in the economic field and has held many important positions in large corporations around the world.

He also served as German Minister of Health and Vice Chancellor and Minister of Economics and Technology in the German Government. He has been out of politics for more than 10 years.

Vingroup is about to receive more than 6,000 billion VND in cash

Vietnam Exhibition Fair Center Joint Stock Company (VEFAC - stock code: VEF) has just announced the Resolution of the Board of Directors on the plan to pay cash dividends to shareholders.

Accordingly, the company plans to pay a total dividend of up to 435% in cash, equivalent to VND43,500/share. Of which, the 2024 dividend is 135% (VND13,500/share), taken from accumulated undistributed profits up to the end of 2024 and the interim dividend for the first quarter of 2025 is 300% (VND30,000/share), paid from after-tax profits in the first quarter of the year.

With more than 166.6 million shares in circulation, the total amount VEFAC needs to spend on this dividend is estimated at VND7,247 billion. Vingroup Corporation (stock code: VIC) is the parent company of VEFAC, owning 83.32% of the capital. It is expected that this corporation will receive more than VND6,000 billion in dividends.

LPBank Securities General Director leaves his position after less than half a year

The Board of Directors of LPBank Securities Joint Stock Company (LPBS) has just issued a resolution to dismiss Ms. Vu Ngoc Anh from the position of General Director from June 10. Notably, Ms. Ngoc Anh has only held this position since December 2024.

Before officially leaving the position of General Director, Ms. Vu Ngoc Anh no longer held the role of legal representative of LPBS since April 28. This position is currently held by Chairman Nguyen Duy Khoa.

Bau Duc wants to lead Hoang Anh Gia Lai back to its golden age in 2008.

Hoang Anh Gia Lai Joint Stock Company (stock code: HAG) holds the 2025 annual general meeting of shareholders.

At the meeting, Mr. Duc confidently said: "From this year onwards, it will be difficult to find the bad things about Hoang Anh Gia Lai." He wants to lead the group back to its golden age in 2008 based on the expectation that from now on the business will grow, be solid, and not diversify.

Mr. Duc expressed his confidence that Hoang Anh Gia Lai will turn a new page (Photo: HAG).

At this congress, Mr. Duc announced for the first time a completely new plan with 4,000 hectares of coffee and 2,000 hectares of mulberry for silk, aiming for export.

Specifically, this year, Hoang Anh Gia Lai will invest in 2,000 hectares of mulberry for silk production. This type of tree has been tested since the end of 2024 and the current indicators have been completed. The enterprise aims to grow mulberry for silkworm breeding, silk production and export.

Regarding coffee, Mr. Duc said he plans to plant 2,000 hectares of coffee this year and another 2,000 hectares next year, for a total of 4,000 hectares.

Source: https://dantri.com.vn/kinh-doanh/nguyen-pho-thu-tuong-duc-lam-sep-vietjet-bau-duc-tinh-trong-dau-nuoi-tam-20250607221224021.htm