The Unsung Entrepreneur: Unveiling the Success Story of Ha Thi Phuong Thao

Hà Thị Phương Thảo (born 1982) is a prominent yet media-shy Vietnamese businesswoman with a diverse portfolio of businesses spanning real estate, education, and wholesale fabric, apparel, and footwear trading.

She gained prominence as the new owner of The Arena Cam Ranh project after the “Trần Thái” group withdrew its investment from Trần Thái Cam Ranh JSC.

The Arena Cam Ranh is a large entertainment, tourism, and resort complex that was granted to Trần Thái Nam Long Sport and Tourism Investment JSC by the People’s Committee of Khánh Hòa Province without a bidding process. In 2009, the provincial authorities issued an investment certificate to the enterprise.

In 2012, the Khánh Hòa People’s Committee modified the investment certificate for Trần Thái Cam Ranh JSC for this project, spanning 27.5 hectares. The content of the certificate included annual land rent payments (with a 50-year term) for the construction of villas and apartments for sale and rent. Simultaneously, the project was required to be constructed and operational within four years.

However, the project’s investment certificate and detailed planning have been repeatedly modified since then.

Regarding Trần Thái Cam Ranh JSC, the company was established in July 2009, with its headquarters in the North Cam Ranh Peninsula Tourism Area (Cam Ranh City, Khánh Hòa Province).

The initial chartered capital was 212 billion VND, contributed by three founding shareholders: Phú An Real Estate Company (46%), Trần Thái Real Estate Company (44%), and Ms. Thái Ngọc Dung (10%).

However, according to a change registration in October 2016, none of the founding shareholders owned any shares in the company. At that time, Ms. Hà Thị Phương Thảo was the General Director and legal representative of Trần Thái Cam Ranh JSC.

After several adjustments, by October 2022, Trần Thái Cam Ranh JSC had increased its capital to 810 billion VND. The legal representatives at that time included Mr. Lê Anh Trứ (born 1978), Director, and Ms. Hà Thị Phương Thảo (born 1982), Chairwoman and General Director of the Company.

In the most recent change registration (August 2024), Mr. Lê Anh Trứ is the General Director and legal representative of Trần Thái Cam Ranh JSC.

In addition to The Arena Cam Ranh project, entrepreneur Hà Thị Phương Thảo is also associated with several other prominent projects in Khánh Hòa, including the Panorama Nha Trang project, developed by Vịnh Nha Trang Investment and Construction JSC.

Vịnh Nha Trang JSC was established in 2014, with Ms. Hà Thị Phương Thảo as its legal representative, and had a modest chartered capital of 500 million VND. The company’s primary business at the time was “trade promotion and introduction.”

In March 2015, Vịnh Nha Trang JSC increased its chartered capital to 54 billion VND. And, more than a year later (May 2016), the company further increased its capital to 300 billion VND, comprising four shareholders: Hà Quang Real Estate JSC (40%), Hà Thị Phương Thảo (40%), Hà Vân Hiền (10%), and Phạm Thanh Tùng (10%).

By June 2018, the company’s chartered capital had reached 2,000 billion VND, with the following shareholder structure: Hà Quang Real Estate JSC (11.9%), Hà Thị Phương Thảo (39.997%), Hà Vân Hiền (29.7%), and Phạm Thanh Tùng (10%).

However, in May 2019, Vịnh Nha Trang JSC reduced its capital to 1,070 billion VND. The ownership of Hà Thị Phương Thảo and Hà Vân Hiền increased to 43.27% and 27.96%, respectively, while Hà Quang Real Estate JSC’s stake decreased to 11.21%. The remaining 9.42% capital was held by Mr. Phạm Quang Tùng.

After several adjustments, as of July 21, 2021, Vịnh Nha Trang JSC’s chartered capital was 1,000 billion VND. Notably, Mr. Lê Anh Trứ, General Director and legal representative of Trần Thái Cam Ranh JSC, also serves as the General Director and legal representative of Vịnh Nha Trang JSC.

It is worth noting that Hà Quang Real Estate JSC, a founding shareholder of Vịnh Nha Trang JSC, also has multiple connections to businesswoman Hà Thị Phương Thảo.

Established in 2001, Hà Quang Real Estate JSC had a capital of 700 billion VND as of January 2019, with founding shareholder Mr. Hà Văn Hải holding 70%. Currently, Mr. Hải is also the General Director and legal representative of the company. Entrepreneur Hà Văn Hải is known as the first person to research and farm trout in Vietnam.

Hà Quang Real Estate JSC is the developer of two new urban area projects, Lê Hồng Phong I and Lê Hồng Phong II (collectively known as Lê Hồng Phong New Urban Area, or Venesia for short), located in Nha Trang City, Khánh Hòa Province.

Turning our attention back to Ms. Hà Thị Phương Thảo, her business interests extend beyond real estate. She also represents several companies in the education sector, including Panorama Human Resources and Education JSC (Nha Trang, Khánh Hòa) with a chartered capital of 20 billion VND, and Hà Quang Human Resources and Education Development JSC (Nha Trang, Khánh Hòa) with a chartered capital of 70 billion VND as of September 2017 (in which Ms. Thảo holds 15% of the capital, Mr. Hà Văn Hải holds 70%, and shareholder Hà Vân Hiền holds 15%).

Ms. Hà Thị Phương Thảo and Hà Vân Hiền are also founding shareholders of Ha Studio LLC, established in October 2018, specializing in wholesale fabric, apparel, and footwear trading. The initial chartered capital was 5 billion VND, with Ms. Thảo holding 70% and shareholder Hà Vân Hiền owning the remaining 30%.

As of December 2021, the company’s chartered capital was 9.8 billion VND, and Ms. Hà Thị Phương Thảo served as the Director and legal representative.

The Tày ethnic businesswoman is also the Chairwoman and founding shareholder, holding 80% of the capital, of Mosmedi Trading JSC. The company was established in August 2021, with a chartered capital of 5 billion VND. Its primary registered business is commodity brokerage, excluding auction activities.