GIC Takes VietJet for a Ride
VietJet Aviation Joint Stock Company (VietJet), a Vietnamese budget air carrier, breathed life into plans to go public. VietJet was granted initial approval to operate in November 2007 by Vietnam’s Minister of Finance and was founded by Nguyen Thi Phuong Thao, a Vietnamese businesswoman. In the 1980s, Nguyen Thi Phuong Thao was a student in Moscow who had an entrepreneurial itch. In 1988, she started distributing goods from Japan, Hong Kong and South Korea in the then USSR (Soviet Union). After a while, Nguyen Thi Phuong Thao left Moscow and returned to Vietnam and financially invested in Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) and Vietnam International Commercial Joint Stock Bank. This gave Nguyen Thi Phuong Thao the experience and capital to start an airlines company later in her career, betting on a growing market economy in Vietnam.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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