Former owner of domestic Mivina becomes richest man of Vietnam

Former owner of domestic Mivina becomes richest man of Vietnam

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Former owner of domestic Mivina becomes richest man of Vietnam

  • Pham Nyat Vuong, who used to run business in Ukraine, has increased its fortune to USD 4.2bn

Pham Nhat Vuong was born in a poor family, but thanks to his success in mathematics he won a scholarship to study in Moscow. After graduating from the Moscow Geological Prospecting Institute, in 1993, the Vietnamese married and moved to Kharkiv in Ukraine. At that time, the Ukrainians seemed very poor and very hungry to him.

The first business of the businessman was a small budget restaurant. His family borrowed some USD 10 000 for the start.

In 1995, the Vietnamese entrepreneur took a loan one more time and founded TechnoCom, an enterprise specializing in production of instant noodles utilizing Vietnamese technology. The company’s instant noodles Mivina brand was a success in Ukraine making Vyong a dollar millionaire.

In 2010, Tekhnokom sold Mivina to the Swiss Nestle for USD 150mln. Pham Nhat Vuong built a whole conglomerate of Vingroup companies in his homeland after the completion of the deal.

Mr. Vuong became the first billionaire of Vietnam In 2012.

At the end of last year, a businessman whose fortune is estimated at USD 4.2bn, was included in top 500 richest people in the world, according to Forbes, taking 489 spot in the list.

The conglomerate of Vyong has become a leader in recreation and entertainment, but the locals often associate the businessman with real estate calling him the Vietnamese Donald Trump.

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