Hanoi (VNA) – Coteccons Construction Joint Stock Company (HOSE: CTD) has been ranked 285th in the 2026 Fortune Southeast Asia 500 list, representing a notable 19-spot climb from the previous year.
Since making its debut at 376th place in 2024, the enterprise has surged 91 positions, a testament to its continuous scale expansion and sharpened competitive capabilities in recent years.
A trajectory of sustainable growth
The Fortune Southeast Asia 500 is an annual ranking compiled by Fortune magazine (USA) to honor the 500 largest enterprises by revenue across seven Southeast Asian nations. Financial indicators are gathered transparently from public data and verified by independent third-party auditing organizations, Refinitiv and S&P Global Market Intelligence.
In its latest publication, Fortune marks Vietnam as a clear "new growth engine" for the region. According to data, Vietnamese enterprises achieved an average revenue growth rate of 10.5%, significantly higher than the overall average of the list. While accounting for less than 10% of total Fortune Southeast Asia 500 revenue, Vietnamese firms contributed roughly a quarter of the entire list's revenue growth.
Concurrently, the region's growth momentum is increasingly shifting from the traditional heavyweights at the top toward the middle of the ranking—agile companies that are aggressively expanding their scale, fortifying capabilities, and climbing the global value chain.
In this macro-landscape, Coteccons stands out as a prime example of a Vietnamese enterprise consistently elevating its position on the Fortune Southeast Asia 500. In 2025, the company recorded approximately USD 980 million in revenue, USD 18 million in profit, and maintained a talent pool of nearly 3,000 employees.
For Fiscal Year 2026, Coteccons' revenue is projected to exceed 30 trillion VND, while its current backlog stands at approximately 65.5 trillion VND the highest level in recent years. (Photo: Coteccons)
Over three consecutive ranking cycles, Coteccons has steadily risen from 376 (2024) to 304 (2025), and now to 285 (2026), maintaining a steady and predictable growth trajectory. This consistent upward climb reflects not only expanding operational scale but also a solidifying competitive advantage despite intense industry volatility.
These calculated changes in strategy and corporate governance are clearly mirrored in Coteccons' scale and quality of growth.
In fiscal year 2026, the company is projected to cross 30 trillion VND in revenue and 700 billion VND in net profit. Simultaneously, its backlog stands at a record 65.5 trillion VND – the highest level in years-anchoring a rock-solid foundation for future growth periods.
This strong momentum is fueled by both enhanced internal operational capabilities and key market trends, specifically Urbanisation, Industrialisation, and Going Global. Among these strategic pillars, "Going Global" is designated as a long-term spearhead to bring Vietnamese construction capabilities and human resources to the international stage.
Parallel to scaling up, Coteccons is continuously optimising qualitative metrics such as operational efficiency, cash flow quality, and risk management. Profit margins are projected to improve steadily, while days sales outstanding (DSO) have dropped significantly, proving a decisive transition to a highly sustainable growth model.
The company's execution capabilities are anchored by a series of technically demanding, large-scale national infrastructure and commercial projects, such as Gia Binh International Airport and the APEC Convention Centre in Phu Quoc. These milestones reinforce Coteccons' premier reputation among domestic clients and multinational FDI corporations alike.
With this robust foundation, Coteccons is moving confidently into more complex, iconic, and high-value project segments, unlocking long-term growth potential.
Shifting from rapid growth to quality growth
Backed by a record backlog and expanding market opportunities, Coteccons is positioned to proactively select transparent, high-value projects that align with its long-term strategy, risk management standards, and execution strengths, rather than chasing rapid growth at all costs.
Being honoured by Fortune for three consecutive years serves as a validation of these results and proves the business's readiness to capture upcoming industry opportunities.
“Coteccons is entering a strategic shift, moving from ‘Growth’ to ‘Quality Growth’. This journey begins with disciplined governance, optimized operations, and robust execution capabilities. It lays the foundation for our long-term sustainability, enabling us to deliver practical value to clients by specialising our capabilities in areas where Coteccons holds distinct competitive advantages.
"In doing so, we unlock new opportunities to collaborate with strategic partners while cementing investors’ confidence in the quality of our growth. Earning a spot on the Fortune Southeast Asia 500 is a powerful endorsement of our capabilities and brand equity. It is also a driving force behind our greater aspiration: to write Vietnam’s construction industry onto the regional and global construction map,” Mr. Bolat Duisenov stated.
Moving forward, Coteccons commits to investing heavily in its execution capabilities, technology, and engineering talent to master this new phase of quality growth, delivering long-term value for clients, partners, shareholders, and workers./.
