PetroVietnam named most profitable firm in Vietnam
Hanoi (VNA) - The top 500 profitable
businesses (Profit500) and the 10 most prestigious firms in the food, beverage,
retail, and packaging sectors in Vietnam in 2020 were announced at a ceremony
in Hanoi on October 22.
The Vietnam Oil and Gas Group (PetroVietnam) topped
the Profit500 list, which was compiled by the Vietnam Report JSC and online
newspaper VietNamNet under the Ministry of Information and Communications.
It was followed by the Samsung Electronics Thai
Nguyen Co. Ltd, the Military Industry and Telecom Group (Viettel), the Joint Stock
Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Honda Vietnam, the Vingroup
JSC, the PetroVietnam Gas Joint Stock Corporation, the Vietnam Bank for
Agriculture and Rural Development (Agribank), the Vietnam Technological and
Commercial Joint Stock Bank (Techcombank), and the Vietnam Dairy Products JSC
(Vinamilk).
Those winning a reputation award in the food
industry included Vinamilk, the CP Vietnam Livestock JSC, the Masan Group, the VISSAN
JSC, the FrieslandCampina Vietnam JSC, and the Mondelez Kinh Do Vietnam JSC.
Pham Anh Tuan, a representative from VietNamNet, said this year was
the first time a global economic crisis has been triggered by a pandemic and
the term “new normal” introduced when it comes to socio-economic recovery
efforts and the resumption of businesses’ operations.
In that context, “profit” alone is not enough
for enterprises, it must be “sustainable profit” based on internal strengths,
adaptability to the market, and brand reputation, Tuan said.
Enterprises honoured are those with efficient
and sustainable production and business activities, as well as high
profitability amid a number of challenges caused by the pandemic-triggered
crisis, Tuan said, adding that they also possess a firm foothold in their
industries and are capable of becoming pillars of Vietnam’s future economic development./.