Vietnam Billionaires: 2019 Top 5 Billionaires in Vietnam

4. Tran Ba Duong & family, net worth of USB 1.7B

Vietnam Billionaires
  • Tran Ba Duong got his start working at an auto repair factory in the 1980s and eventually worked his way up to management.
  • He founded Truong Hai in 1997; it initially sold cars and later started assembling cars for foreign brands such as Kia, Mazda and Peugeot.
  • His company’s turning point came in 2008, when Jardine Cycle and Carriage, a car distributor in Singapore, bought a stake in it. 
  • Thaco, as it’s called, is the biggest car company in Vietnam with more than a third of the nation’s automobile market as of 2018.
  • Tariff on imported cars to Vietnam dropped to 0% starting in 2018, posing challenges to automobile companies like Thaco that assemble cars in Vietnam.
2 of 5
Use your ← → (arrow) keys to browse