JANUARY-FEBRUARY 2018 59
Aviation Academy in the Saigon Hi-
Tech Park in Ho Chi Minh City. The
first element of the academy, a full
flight simulator, is expected to be in
operation during 2018.
As well as this, a subsidiary in
Thailand, Thai VietJet, has been flying
since March 2015.
The billionaire Thao has
widespread holdings in Vietnam.
She owns a 90 per cent stake in
Sovico Holdings, which focuses its
investments in three key sectors:
banking and finance, real estate and
the energy industry. The majority of
her wealth is said to be derived from
her stake in VietJet and her holdings
in Dragon City, a 65-hectare real
estate development in Ho Chi Minh
City. Thao also has majority stakes
in three resorts in Vietnam – the
Furama Resort Danang, the Evason
Ana Mandara Nha Trang and the An
Lam Ninh Van Bay Villas. Thao and
her holding company also own about a
20 per cent stake in Ho Chi Minh City
Development JS Commercial Bank,
or HDBank. She is vice-chairman
of the privately-held commercial
bank, which has total assets of about
US$4.6 billion last year, with 225
branches and 10,000 employees.
However, she isn’t one to flout her
wealth.
“I’ve never sat down and calculated
my assets,” Thao said. “I just focused
airline. In a letter to shareholders and
staff published on the airline’s website,
she declared: “Our commitment is to
run a safe, reliable airline, to keep up
our on-time performance target while
maintaining our performance with
high safety goals. We shall continue to
drive our costs down, allowing us to
continue to offer lower and affordable
air fares.”
And, she points out in a more
traditional tone: “VietJet has been
listed in Spring of the Chinese Lunar
Year of Rooster. We hope that the
Golden Rooster will lay its golden eggs
and bring good luck, prosperity and
success to the airline and its investors.”
So far, it appears her prayers are
being answered.on how to boost the company’s
(VietJet’s) growth, how to increase the
average salary for my employees, how
to lead the airline to gain more market
share and make it No 1.”
She is not averse to being
innovative and taking risks.
“You have to take the lead and take
calculated risks. As a businesswoman,
I have a responsibility to contribute to
the economy and to push for positive
changes of the country and in the
society, in light of the international
integration that’s happening.”
In the midst of this, despite being a
relative newcomer to the airline game,
Thao has quickly forged a culture at
VietJet that underscores the really
important elements of running an‘I’ve never
sat down and
calculated
my assets.’
NGUYEN THI PHOUNG THAOVietJet has 31 A321neos on
order, with plans to operate
100 aircraft by 2021.AIRBUS