Ms. Cao Thi Ngoc Dung ranked third on 2016 list.
Forbes Asia’s list of 50 Powerful Businesswomen 2016 released on April 7 included three Vietnamese women: Ms. Cao Thi Ngoc Dung, Chairwoman and General Director of the Phu Nhuan Jewelry Joint Stock Company (PNJ), Ms. Nguyen Thi Phuong Thao, General Director of Vietjet Air, and Ms. Thai Huong, Chairwoman of the TH Group. Ms. Dung was honored to be ranked in third place by Forbes.
The Forbes list acknowledges women that have made great contributions to the global economy in general and Asia’s economy in particular. The criterion for selection includes outstanding leadership in companies with annual revenue of more than $100 million.
The businesswomen selected on the 2016 list come from 14 countries. China and Hong Kong had 14 representatives, followed by India with eight, Thailand five, and Japan four. Singapore, Australia, Indonesia and Vietnam had three each, South Korea and the Philippines two each, and Macau, Taiwan and New Zealand one each.
Most of those appearing on the list are involved in production and nearly 25 per cent of new representatives are in technology. Ms. Dung and Ms. Thao are two of the 27 new representatives this year.
“Ms. Cao Thi Ngoc Dung is 58 years old and Chairwoman and General Director of PNJ (Vietnam),” Forbes wrote. “She founded Phu Nhuan Jewelry Joint Stock Company in 1998 [actually in 1988]. Beginning with one store, she has built PNJ into the largest jewelry brand in Vietnam, with more than 3,000 employees and 200 stores. In 2015 PNJ’s revenue was $350 million and profit was $23 million. PNJ has been called the Tiffany of Vietnam because, like the Tiffany brand in the US, PNJ designs, produces and sells its own products. Since 2004 Ms. Dung has owned 17 per cent of PNJ’s shares, after it changed to a joint stock company.”
Ms. Cao Thi Ngoc Dung (center) at the Vietnam International Fashion Week 2015 held in October 2015, pictured with two gold jewelry brand ambassadors: singer My Linh and artist Kim Xuan
2016 is the fifth year Forbes Asia has published a list of Asia’s 50 Powerful Businesswomen. Former Chairwoman of Vinamilk, Ms. Mai Kieu Lien, appeared on the list for four consecutive years, from 2012 to 2015. In recent years Vietnam has had more representatives on the list, like Ms. Pham Thi Nga, Chairwoman of the DHG Pharmaceutical Joint Stock Company, Ms. Nguyen Thi Mai Thanh, Chairwoman and General Director of REE, and Ms. Nguyen Thi Nga, Chairwoman of SeABank.
In March 2016 Ms. Dung was ranked eighth among the 20 most influential women in Vietnam by Forbes Vietnam.