Samsung Electronics Vietnam has been ranked first place among the top 500 fastest growing companies in the country in 2014.
TheFAST 500 rankings' list was released by the Vietnam Report yesterdayand showed that Samsung was followed by the Electricity of Vietnam(EVN), the Vietnam National Coal and Mineral Industries HoldingCorporation Limited (VINACOMIN) and the Vung Ang Oil and Gas PetroleumJSC (VungAng PV Oil).
According to the Vietnam Report, thecompound annual growth rate (CAGR) of the ten leading firms in theFAST500 was 102.18 percent. More than three-fourth of the enterprisesincluded in the survey said they would expand their business activitiesto boost turnover and their presence in the market, while 19.2 percentsaid they would continue with the same operations as in 2014.
Inaddition to the list of the 500 fastest-growing firms, the VietnamReport also published a list of 500 small and medium-sized enterprises(SMEs) with the fastest growth rates in Vietnam.
The Son TrangConstruction JSC was ranked first in that list, while the Kien KheQuarry Material Co Ltd came in second and the Noi Thuong BacTransportation Car Co Ltd bagged the third spot.
The CAGR of the ten leading SMEs was pegged at 82.29 percent.
The top ten in the list are Samsung Electronics Vietnam Co Ltd,Vinacomin Power Corporation-a one member limited liability company, VungAng Petroleum Jsc, Long Son Co Ltd, European Plastic Jsc, Thanh LongJsc, Eco Phamar Jsc, Dai Huu Jsc, Sigma Engineering Jsc and Vina FoodBreeding Jsc.
The report revealed that during the2014 to 2015 period, enterprises' operations saw some improvement. Mostof the surveyed firms said the number of orders, turnover, machineutility rates, after-tax profit and money flow in 2014 were better thanprevious years, with increases of 82.2 percent; 79.5 percent; 78.9percent; 78.7 percent and 77.6 percent, respectively.
This is a positive sign that shows the economy's recovery andindicates businesses' expectation of entering a new growth period.
During the 2015 to 2018 period, companies will maintain their growthrate target. The increase in productivity, improved management anddevelopment of new products and services will be given priority goingforward.
However, Vietnamese businesses have notpaid much attention to mergers and acquisitions as nearly 77 percent ofthe firms did not choose M&A as their key strategy during the pastfour years and the next four years.
More than 60 percent of theenterprises said the emergence of rivals in the same sectors wouldpresent the biggest challenge. This is why transparency in informationwill be vital for them and will help map out a feasible and suitablegrowth plan in the longer term, thus reducing losses.
Around 78 percent of the FAST500 businesses suggested that theGovernment should maintain low interest rates and create favourableconditions for accessing loans needed for expansion.
The State Bank of Vietnam has also paid attention to the issue. Inaddition, the Government can extend support to businesses by reducingthe corporate income tax, invest in infrastructure and train humanresources.
This is the fifth consecutive year thatFAST500 was announced, pointing towards the maturity of Vietnamesebusinesses amidst economic fluctuations at home and abroad.
The FAST 500 rankings are also based on international standards,including the models of the Inc. 500, Fortune 500 and Deloitte 500companies.
The performance of the companies iscalculated, based on CAGR of revenue for the 2011 to 2015 period and isalso based on other criteria, such as total assets, the number ofworkers, after-tax profits and prestige in the media.
Theceremony to announce the FAST 500 Ranking List 2015 will be held at theNational Convention Centre in Hanoi on April 22.-VNA
TheFAST 500 rankings' list was released by the Vietnam Report yesterdayand showed that Samsung was followed by the Electricity of Vietnam(EVN), the Vietnam National Coal and Mineral Industries HoldingCorporation Limited (VINACOMIN) and the Vung Ang Oil and Gas PetroleumJSC (VungAng PV Oil).
According to the Vietnam Report, thecompound annual growth rate (CAGR) of the ten leading firms in theFAST500 was 102.18 percent. More than three-fourth of the enterprisesincluded in the survey said they would expand their business activitiesto boost turnover and their presence in the market, while 19.2 percentsaid they would continue with the same operations as in 2014.
Inaddition to the list of the 500 fastest-growing firms, the VietnamReport also published a list of 500 small and medium-sized enterprises(SMEs) with the fastest growth rates in Vietnam.
The Son TrangConstruction JSC was ranked first in that list, while the Kien KheQuarry Material Co Ltd came in second and the Noi Thuong BacTransportation Car Co Ltd bagged the third spot.
The CAGR of the ten leading SMEs was pegged at 82.29 percent.
The top ten in the list are Samsung Electronics Vietnam Co Ltd,Vinacomin Power Corporation-a one member limited liability company, VungAng Petroleum Jsc, Long Son Co Ltd, European Plastic Jsc, Thanh LongJsc, Eco Phamar Jsc, Dai Huu Jsc, Sigma Engineering Jsc and Vina FoodBreeding Jsc.
The report revealed that during the2014 to 2015 period, enterprises' operations saw some improvement. Mostof the surveyed firms said the number of orders, turnover, machineutility rates, after-tax profit and money flow in 2014 were better thanprevious years, with increases of 82.2 percent; 79.5 percent; 78.9percent; 78.7 percent and 77.6 percent, respectively.
This is a positive sign that shows the economy's recovery andindicates businesses' expectation of entering a new growth period.
During the 2015 to 2018 period, companies will maintain their growthrate target. The increase in productivity, improved management anddevelopment of new products and services will be given priority goingforward.
However, Vietnamese businesses have notpaid much attention to mergers and acquisitions as nearly 77 percent ofthe firms did not choose M&A as their key strategy during the pastfour years and the next four years.
More than 60 percent of theenterprises said the emergence of rivals in the same sectors wouldpresent the biggest challenge. This is why transparency in informationwill be vital for them and will help map out a feasible and suitablegrowth plan in the longer term, thus reducing losses.
Around 78 percent of the FAST500 businesses suggested that theGovernment should maintain low interest rates and create favourableconditions for accessing loans needed for expansion.
The State Bank of Vietnam has also paid attention to the issue. Inaddition, the Government can extend support to businesses by reducingthe corporate income tax, invest in infrastructure and train humanresources.
This is the fifth consecutive year thatFAST500 was announced, pointing towards the maturity of Vietnamesebusinesses amidst economic fluctuations at home and abroad.
The FAST 500 rankings are also based on international standards,including the models of the Inc. 500, Fortune 500 and Deloitte 500companies.
The performance of the companies iscalculated, based on CAGR of revenue for the 2011 to 2015 period and isalso based on other criteria, such as total assets, the number ofworkers, after-tax profits and prestige in the media.
Theceremony to announce the FAST 500 Ranking List 2015 will be held at theNational Convention Centre in Hanoi on April 22.-VNA
