Vietnamese billionaires' companies contribute $3.24 bln to state budget

Corporations run by Vietnamese billionaires contributed VND75.2 trillion ($3.24 billion) to the state budget in 2021, with Pham Nhat Vuong’s Vingroup making the largest contribution.

Vingroup

Pham Nhat Vuong's Vingroup, Vietnam's largest listed corporation, contributed VND26,213 billion ($1.13 billion) to the national budget in 2021. Of this, about $464.5 million came from corporate income tax.

During the 2016-2020 fiscal year, the state budget received a total $4.25 billion from the conglomerate. The contributions have risen year after year, with the only one dip occurring in 2020 before resumption in 2021.

Chairman Pham Nhat Vuong, with total assets of $6 billion, currently ranks first in Vietnam and 405th in the world in Forbes's real-time billionaires list. This year marks the tenth time he has made the world's billionaires list.

Thaco

Truong Hai Group (Thaco), a multi-sector Vietnamese conglomerate owned by billionaire Tran Ba Duong, contributed VND20,500 billion ($888 million) to the state budget in 2021. Over the 2016-2020 term, the total amount was $3.9 billion.

Chairman Tran Ba Duong first entered the Forbes list in 2018. With a net worth of $1.5 billion, he currently ranks sixth in Vietnam and 1,843rd in the world.

Hoa Phat Group

Hoa Phat Group, Vietnam’s largest steel maker, chaired by billionaire Tran Dinh Long, paid VND12,689 billion ($549.7 million) into the state budget in 2021. Of this, corporate income tax hit $118.8 million.

The enterprise submitted a total $1.38 billion to the budget over the 2016-2020 period.

Long is now the fourth richest person in Vietnam and the 1,182nd in the world, with a total wealth of $2.5 billion, according to Forbes.

Techcombank

Techcombank, one of Vietnam’s leading joint-stock commercial banks, paid VND6,533 billion ($283 million) into the budget in 2021, with corporate income tax accounting for $209.7 million.

The state budget received $554.9 million from the creditor in the 2016-2020 period.

Ho Hung Anh, Chairman of Techcombank, is currently ranked fifth in Vietnam and 1,606th in Forbes's real-time billionaires list, with a net worth of $1.8 billion.

Masan Group

Masan Group, one of Vietnam’s largest private conglomerates, contributed VND5,452 billion ($236.2 million) to the state budget in 2021, with $65 million coming from corporate income tax. The total sum was $721.8 million over the 2016-2020 period.

Masan Chairman Nguyen Dang Quang, with a fortune of $1.8 billion, is currently ranked last on the Vietnamese USD billionaire list, and 1,887th in the world. He is also Vice Chairman of Techcombank.

Novaland

Novaland paid VND1,378 billion ($59.6 million) into the state budget in 2021, of which, corporate income tax was $57.7 million. The total sum was $294.3 million over the five-year period.

Bui Thanh Nhon, Chairman of multi-sector Nova Group, has become the second richest billionaire in Vietnam, with a net worth of $2.8 billion, and a global position of 1,504th.

Vietjet Air and HDbank

Nguyen Thi Phuong Thao, Vice Chairman of HDBank and VietJet Air, is the only female billionaire in Vietnam. With total assets of $2.7 billion, she is the country’s third-richest person, and 1,077th in the world.

Vietjet Air submitted $25 million to the state budget in 2021. The airline’s contributions have plunged sharply in the last two years due to the significant impact of Covid-19 on the aviation industry. HDbank’s budget contribution in 2021 were $81 million.

In the five-year period from 2016 to 2020, Vietjet Air and HDbank had contributed $981.3 million and $208.7 million, respectively.