VietNamNet Bridge – The Year of the Horse (2014) was a grand time for many Vietnamese businessmen.

Ocean Bank and Ha Van Tham, the former chair of the bank, for example, were the most searched names in 2014, especially after the arrest of Tham in October on the charge of "violation of provisions for loan operations of financial institutions”.

Ha Van Tham, the founder of Ocean Group, was ranked eighth among Vietnam’s richest stock millionaires in 2010 with stock assets of VND1.8 billion, or nearly $1 million. However, sources said his actual total assets were worth over $2 billion.

Pham Cong Danh, former chair of the Vietnam Construction Bank (VNCB), Mai Huu Khuong, former member of the bank and Phan Thanh Mai, former CEO, were also arrested on the same charge.

A sensational event took place in early 2015 involving Chau Thi Thu Nga, a National Assembly’s Deputy, chair of the Housing Group, who was arrested on the charge of swindling to appropriate assets of other people.

Nga collected money from customers who registered to buy apartments at B5 Cau Dien apartment project developed by the Housing Group, promising to deliver apartments in 2015. However, the land plot remains deserted.

This happened in early 2015, but it was still counted as an event of the Year of the Horse because it falls under the lunar calendar.

Nguyen Quoc Cuong, well-known as “Cuong dollar”, might have sighed with relief as the Year of the Horse is now over, because he had too many problems during the year.

Quoc Cuong Gia Lai, his family-run business, reported the modest profit of VND6.4 billion by the end of the third quarter of 2014, far below the targeted profit of VND100 billion.

Meanwhile, the inventory of the real estate firm had increased by that time, at over VND4.1 trillion, or 90 percent of short-term assets.

Cuong not only met misfortune in his business, but also in private life. Local newspapers reported that his marriage was in danger. Meanwhile, the car under his name caused a serious traffic accident just days before Tet, killing one and injuring 10.

A new queen in 2015?

Analysts, citing figures about millionaires’ assets, predicted that 2015 would be a successful year for businesswomen.

Le Thi Thuy Nga, chair of Nam Cuong Group in Hanoi, is one of the names mentioned.

Nam Cuong owns two 4-star hotels in Hai Phong and Hai Duong cities. The company is also the owner of luxury urban areas and hotels including Co Nhue, Phung Khoang and Duong Noi in Hanoi, Do Son in Hai Phong and Hoa Vuong in Nam Dinh.

The businesswoman is known as the “iron woman”. She holds 88.86 percent of Nam Cuong Group, worth VND4 trillion.

Huan Tu