List of 500 largest Vietnamese enterprises announced

The number of private companies in the top 500 largest Vietnamese enterprises list (VNR500) rose by 2.5 times in 2017 after 10 years of the rankings being used (Photo: vietnamnet.vn) Hanoi (VNA) – The list of top 500 largest Vietnamese enterprises (VNR500)was announced in Hanoi on January 19, with the number of private companies inthe list rising by 2.5 times in 2017 since the rankings were first made 10years ago.TheVNR500, compiled by Vietnam Report and online newspaper Vietnamnet, alsoshowed private firms accounted for half of enterprises in the ranking whiletheir contribution to the economy rose from 27 percent of GDP in 2016 to 32.3 percentin 2017.Thishas been the 11th year the rankings have been released to honour businesses whichachieved outstanding results in 2017’s financial year.Lastyear saw the recovery of the economy, helping the business community. Some75 percent of firms in VNR’s survey reported increasing revenue in 2017 whichwas much higher than the previous year.”Theincreasing number of private companies and their turnover contribution on theVNR500 2017 partly reflected the Government’s efforts in improving the businessenvironment to facilitate all economic sectors as well as achievements in the equitisationprocess of State-owned enterprises (SOEs),” the report said.TruongHai Auto Corporation lost its top spot among largest business privatecompanies in Vietnam this year to Vingroup, while Vinamilk was at thethird position on the list.Severalother big names were also ranked, such as FPT, Masan, Mobile World, Dojiand Hoa Phat.SOEscontributed the highest turnover among the three economic sectors. However,SOEs’ turnover fell from 59 percent in 2016 to 52 percent this year.Mostsurveyed firms said… [Read full story]

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