Three Vietnamese entrepreneurs among Top 100 Most Powerful Women in Asia

The three entrepreneurs are Nguyen Thi Phuong Thao, founder and chairwoman of Vietjet; Nguyen Duc Thach Diem, CEO of Sacombank; and Mai Kieu Lien, CEO of Vinamilk.

Accordingly, Phuong Thao, as founder of Vietnam's first private-sector commercial airline, ranked 66th on the list.

On its website, Fortune shared that Thao initially founded the low-cost airline in 2011 with the goal of making flying accessible both domestically and internationally. Since it began operations, the airline's growth has been rapid, carrying over 25.3 million passengers last year, while 24.1 million chose to fly on state-owned Vietnam Airlines.

Much of Vietjet's recent growth has been driven by its international routes as it transported 7.6 million international passengers last year, a 183% increase from 2022.

“The Vietjet founder is often referred to as Vietnam's first self-made female billionaire,” it added.

Meanwhile, according to Fortune, Thach Diem, in 71st place, is leading the Vietnamese bank through a successful seven-year restructuring plan that concludes this year.

Diem joined the bank in 2002 and was appointed chief executive in 2017, two years after the retail bank merged with the smaller Southern Commercial Bank under a national directive to shed bad debt.

“Sacombank has since exceeded shareholder growth targets, doubling its assets to US$27 billion,” the magazine noted.

In addition, Kieu Lien ranked in 72nd position on the Most Powerful Women Asia list.

Born in France and educated in the Soviet Union, Lien has run Vinamilk, the country’s leading dairy company, since 1992. Fortune revealed that Vinamilk is the largest listed food and beverage company on the Ho Chi Minh City bourse with a market cap of US$6 billion.

“Lien started out as an engineer at a dairy factory after she graduated in 1976 and soon became deputy CEO. Previously a state-owned enterprise, Vinamilk went public in 2003,” it concluded.

The 2024 MPW Asia list recognises women who are redefining the concept of leadership by transforming companies and disrupting industries, all whilst driving growth, innovation, and business excellence. They also serve as inspiration for their teams, peers, industries, and the next generation of leaders.

The 100 female executives represent a broad spectrum of industries, including finance, energy, transportation, food and beverage, and hospitality.