500 fastest-growing companies in 2023 announced. (Photo: Vietnam Report) The others in the top 10 included Vantage Logistics Corporation, BeeLogistics Corporation, Super Cargo Service Company Limited, Deo Ca TrafficInfrastructure Investment JSC, MB AGEAS Life Insurance Company Limited, ThienPhu Si JSC and Mirae Asset Securities (Vietnam).
According to a survey by Vietnam Report, the compoundannual revenue growth rate (CAGR) of the FAST500 has improved significantlyas compared with the 2017-2023 period.
Notably, the private sector took the lead in terms of theCAGR this year with a growth rate of 2.3%, reflecting the strong recovery ofthe sector – the main engine of the national economy.
Up to 81.3% of the questioned firms said they maintainedtheir revenue growth in 2022, and some 70% experienced increases in profits fromthe previous year, of which more than half recorded growth of over 75%.
However, only 69.6% of the enterprises recorded hikesin the number of orders, a drop from the previous year’s 82.1%.
Despite the reduction, the layoff rate in the2021-2022 period was lower than that in 2020-2021.
According to Vietnam Report General Director Vu DangVinh, 62.5% of the businesses said they will expand their operations and 37.5%want to maintain their business scale.
FAST500, launched in 2011, is based on the compoundannual growth rate (CAGR) in terms of revenue and business performance. Othercriteria such as total asset, after-tax profit, and companies’ prestige on themedia are also taken into account to identify their scale and stature in theindustries they operate in./.
VNA
