Business

500 fastest-growing companies in 2023 announced

Tin Viet Finance JSC, Dolphin Sea Air Services Corporation and VPS Securities JSC are among the top 10 in the 500 fastest-growing companies in Vietnam (FAST500) this year as announced by the Vietnam Report JSC and the VietNamNet e-newspaper on March 16.
500 fastest-growing companies in 2023 announced ảnh 1500 fastest-growing companies in 2023 announced. (Photo: Vietnam Report)
Hanoi (VNA) - Tin Viet Finance JSC, DolphinSea Air Services Corporation and VPS Securities JSC are among the top 10 in the500 fastest-growing companies in Vietnam (FAST500) this year as announced bythe Vietnam Report JSC and the VietNamNet e-newspaper on March 16.

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
#FAST500 #Vietnam Report JSC #VietNamNet e-newspaper #CAGR #Vietnam #VietnamPlus #Vietnam news
Follow VietnamPlus

Related News

Vietnamese firms seek to tap benefits from EVFTA

Vietnamese firms seek to tap benefits from EVFTA

A seminar on how to fully tap the benefits of imports and investment from the EU – Vietnam Free Trade Agreement (EVFTA) was held by the Cong Thuong (Industry and Trade) Magazine on December 6.

See more

Fresh fruit products of Vietnam are introduced to German customers. (Photo: VNA)

"Live data" paves way for Vietnamese farm exports

Achieving Vietnam's target of more than 74 billion USD in agricultural, forestry and fishery exports in 2026 will require stronger traceability systems, initially focusing on key export commodities, high-value products and major markets such as the EU, the US and China.

An enterprise in the southern province of Dong Thap invests in modern technologies and machinery for production. (Photo: VNA)

Broadening financing channels key to unlocking SME growth

As the private sector takes on a more central role under the Politburo's Resolution No. 68-NQ/TW, experts and business representatives say Vietnam needs a more comprehensive approach to supporting SMEs. This includes improving institutions, making financial support tools more effective and reshaping the financial system to better suit the characteristics of SMEs.

Phase 1 and Phase 2 of the Tan Thuan Wind Power Plant in Tan Thuan commune, Ca Mau province, have a combined installed capacity of 75 MW, comprising 18 wind turbines. (Photo: VNA)

Energy storage unlocks renewable power potential, cuts emissions

Energy transition is not simply about replacing fossil fuels with wind and solar power. It also requires building a sustainable energy ecosystem in which clean power generation, energy storage, smart grids and material recycling chains develop in parallel. Such an integrated approach will improve energy efficiency, further reduce greenhouse gas emissions and help Vietnam achieve green growth and net-zero emissions targets by 2050.

Vietnamese food is increasingly diverse in varieties and packaging, meeting domestic demand. (Photo: VNA)

Government urges vigilance as inflation pressures mount in H2

The Government's inflation target remains within reach despite mounting headwinds. Several forecasts suggest inflation can stay below 4.5% this year if international oil prices continue to retreat. Extending domestic fuel tax incentives through year-end, along with stable electricity prices, healthcare fees and exchange rates, would offer additional relief.

Construction is underway at the Tu Lien Bridge project in Hanoi. (Photo: nhandan.vn)

Public investment drives Hanoi’s growth momentum

In the first half of 2026, Hanoi disbursed 64 trillion VND (2.4 billion USD) in public investment, equivalent to more than 53% of the annual plan assigned by the Prime Minister – the highest mid-year disbursement rate recorded in many years.

Representatives of relevant parties at the sponsorship signing ceremony on July 13, 2026 (Photo: Vietjet)

Vietjet, Vikki Digital Bank named official partners of ASEAN United FC events

As the Official Airline Partner of the ASEAN United FC events, Vietjet connects fans and destinations across Southeast Asia through the region's leading football competitions, kicking off with the ASEAN Hyundai Cup™ 2026, the jewel in the crown of ASEAN football and the region's biggest sporting event.

A truck carrying Vietnamese goods passes the Kim Thanh International Land Border Gate No. 2 in Lao Cai province. (Photo: VNA)

Lao Cai steps up anti-smuggling crackdown, handles more than 1,220 cases

Among the cases were 367 involving the illegal trade and transport of prohibited or smuggled goods, 692 related to commercial and tax fraud, and 162 concerning counterfeit products, imitation goods and intellectual property infringements. Criminal proceedings were launched in 231 cases, with 406 suspects facing criminal proceedings, while 957 cases were settled through administrative penalties.

A production line for electrical wires at Bandai Vietnam Co., Ltd., in Bo Trai Industrial Park in Hoa Binh ward of Phu Tho province. (Photo: VNA)

High-quality FDI expected to drive new growth model

The resolution calls for a shift in development mindset, positioning FDI as a key driver of growth model transformation, with a focus on quality, value addition and continuous improvement of intrinsic capacity and self-reliance of the economy. Many experts and businesses believe the policy provides a timely strategic boost, helping Vietnam to capitalise on the ongoing global supply chain realignment.