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 the acceleration of the economy’s restructuring, especiallyvia administrative procedure reform and cutting business and investmentconditions would be vital for their development this year.
Theyhoped that the Government would tackle corruption, cut public investment,improve human resource training and restructure State-owned groups andcorporations.
Atthe ceremony, Vietnam Report also announced the Top 50 Vietnam the Best 2017,top 10 prestigious listed companies, top 10 prestigious pharmaceuticalcompanies and top 10 prestigious tourism companies in 2017.
Inthe midst of the Fourth Industrial Revolution, Vietnam Report also introducedits bilingual White Paper Annual Report: digital economy and start-up nation.
Thereport showed that Vietnam has favourable geographical, political and economicconditions as well as a high rate of internet users.
However,the report revealed that many companies have not paid adequate attention tousing digital technologies.
Thetwo biggest reasons that made them hesitate to apply technologies indigitalisation were the large amounts of capital required and a lack of highquality human resources.
Developinga digital economy in Vietnam would bring opportunities for the businesscommunity. However, enterprises should be active in implementation togetherwith support from the Government in terms of strategies, policies and legalframework to drive prosperity and sustainable development, the report said.
TheTop 500 Largest Enterprises list from the Revenue Ranking Board follows theFortune 500 model.
Top 10 companies by revenue:
1. SamsungElectronics Vietnam
2. TheElectricity of Vietnam
3. Vietnam NationalOil and Gas Group
4. ViettelGroup
5. VietnamNational Petroleum Group
6. Vietnam Bankfor Agriculture and Rural Development
7. BìnhSơn Refining and Petrochemical Company Limited
8. TheBank for Investment and Development of Vietnam
9. VietnamAirlines Joint Stock Company
10. Vietnam National Coal and Minerals Industries Group.-VNA
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