Audrey Young: Key's fascinating morning with Vietnam's only billionaire

New Zealand Prime Minister John Key. Photo / Nick Reed

John Key's programme in Hanoi yesterday reflects the complexity of the country.

In the morning it was a visit to the Vin empire of Vietnam's first and only billionaire, Pham Nhat Vuong, and in the afternoon he was off to meet the communists: the General Secretary, the chairman of the National Assembly and the State President.

No prizes for guessing which held more fascination for Key.

The Vin Group excursion began with a trip to the bilingual Vinschool in Hanoi where 5000 students, from kindergarten to secondary, study.

Students put on a welcome for Key and the billionaire with a passable rendition of Tutira Mai Nga Iwi.

He visited a primary classroom where he was probed by the students on such issues as what scares you the most (he settled with natural disasters after deciding against trying to explain Labour Party politics to them); what games did he play with his children (they got a rundown of Max's sporting prowess); and did he like Vietnam (there's only one polite answer).

Prime Ministerial visits can open doors. If, for example, any institution represented on the delegation, such as Waikato University, Massey, Victoria, or AUT, wanted to talk with Vinschool about tertiary education, it would be easier now than last week.

Pham Nhat Vuong made his wealth in the Ukraine, before returning to Vietnam to expand. Forbes estimates he is worth US$1.78 billion ($2.72 billion). His empire runs hospitals, trains doctors, sells property, owns hotels, runs malls, and VinMart owns 126 supermarkets.

Just around the corner from the school Key was taken on a tour of one of the VinMarts. He inspected the obligatory New Zealand wine, kiwifruit and long-life milk. Less obligatory was the skinned crocodile, sitting in the fish section, and the live toads and turtles.

It is difficult to think of any company with the equivalent breadth of interests as Pham Nhat Vuong's Vin Group, except perhaps a government.

Little wonder Vietnam's billionaire holds a fascination for Key.Audrey Young