Sovico Holdings chairwoman named in World's 100 Most Powerful Women

Chairwoman of Sovico Holdings, Nguyen Thi Phuong Thao, has become the first Vietnamese women to be listed among Forbes' World's 100 Most Powerful Women this year.

Co-founder and chairwoman of Sovico Holdings, Nguyen Thi Phuong Thao, has become the first Vietnamese women to be listed among the US business magazine Forbes' World's 100 Most Powerful Women this year.

Nguyen Thi Phuong Thao

Nguyen Thi Phuong Thao, 46, ranks 62 on the list.

Thao has a Bachelor’s Degree in Economics, Credit and Banking, and a Doctorate Degree in Economics. She is also a member of Russia’s International Academy of System Studies.

Thao cofounded and is a major shareholder in Sovico, which owns the commercial HD Bank and international budget airline VietJet Air, both of which she runs. HD Bank merged with Dai A Bank in 2014 and is now among the largest joint-stock commercial banks in Vietnam, with total assets of nearly USD 5 billion, 10,000 employees and 225 branches and offices.

Since its launch in 2011, VietJet Air, which is planning an IPO, has increased its fleet to 29 aircraft, taken the lion's share of the local flight market and carried 20 million passengers.

Thao was also among three Vietnamese women which were named on Forbes' list of Asia's 50 Power Businesswomen 2016 besides Cao Thi Ngoc Dung, chairman and CEO of Phu Nhuan Jewelry and Thai Huong, chairman of milk supplier TH Group.

Germany's Chancellor Angela Merkel continued to top the list for the six consecutive years, followed by possible US Presidential candidate Hillary Clinton, and chairwoman of the US Federal Reserve, Janet Yellen.