Business

Nation ranks 500 largest enterprises

The list of Vietnam 's top 500 largest enterprises by revenue in 2011 (VNR 500) was released on Nov. 29 with the Top 30 reaching a turnover of more than 1 billion USD.
The list of Vietnam 's top 500 largest enterprises by revenue in 2011(VNR 500) was released on Nov. 29 with the Top 30 reaching a turnoverof more than 1 billion USD.

According to the list, whichwas compiled by the Vietnam Report Joint Stock Company in collaborationwith online newswire VietNamNet, the Top 50 enterprises also met thequalifications for the Forbes 2,000 (the world's 2,000 largestenterprises by revenue).

Roughly 18 percent of theenterprises listed on the VNR 500 last year did not place on this year'slist while State-owned groups and corporations still accounted for 6 ofthe top 10 biggest enterprises in the country.

TheVietnam National Oil and Gas Group (PetroVietnam) topped the list,followed by the Vietnam National Petroleum Corporation and the VietnamPost and Telecommunications Group.

Vietnam Report saidthat 41.6 percent of the enterprises listed on this year's VNR 500 wereState-owned enterprises (SoEs), implying that SoEs still had a dominantplace in the landscape. Private enterprises and foreign-investedenterprises accounted for 37.4 percent and 21 percent, respectively.

Foreign invested enterprises were the most profitable with roughly 9percent return on assets (ROA), much higher than the 2.7 and 2.5 percentenjoyed by SoEs and private enterprises. In comparison with last year'sVNR 500, the ROA of SoEs decreased by nearly half.

Vietnam Report said the proportion of private enterprises listed on theVNR 500 had increased year after year, from 24 percent in 2008 to 37.4percent this year.

The country's key industries remainedstrong despite economic difficulties, the report stated. Enterprises inthe mineral-petroleum sector made up 15 percent of the VNR 500. Bankingand finance, food and beverages, and telecommunications and powerfollowed at 9.8, 8.2, 6 and 6.8 percent, respectively.

Thehighest proportion of enterprises listed on this year's VNR 500 arelocated in the country's two biggest cities of Hanoi (21.8 percent)and HCM City (25.8 percent).

Vietnam Report ranksenterprises according to independent criteria, such as "Top enterpriseswith the largest benefits", "Top enterprises with the largest totalassets" and "Top enterprises with the largest number of employees".

The Vietnam Top 500 Largest Enterprises by Revenue Ranking Board, whichfollows the Fortune 500 model, is based on international standardresearch results from the Vietnam Report Joint Stock Company withconsultation of Vietnamese and international experts, particularlyProfessor John Quelch, vice president of Harvard Business School.

This was the fifth year the Vietnam Report Joint Stock Company released its VNR 500./.
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