Top 10 prestigious firms in property, construction announced (Photo: VNA) Others named in the list, announced by VietnamReport JSC and VietNamNet e-newspaper in Hanoi on April 27, include EcoparkGroup JSC, Nam Long Investment Corporation and Hung Thinh Corporation.
The firms have been included in the 2021 list of the500 fastest-growing companies in Vietnam (FAST500).They are honoured for theirsignificant contributions to the domestic construction sector as well as theirefforts to move forward in the “new normal” period.
The rankings are based on studies of multiplefinancial factors, corporate reputation on the media, and surveys of insiders.
Accordingly, all of the interviewed enterprises saidthey agreed on the need for the Government and firms to draw up anti-COVID-19scenarios.
More than 72 percent of them said prestige and brandwould help them overcome difficulties. Meanwhile, over 45 percent of therespondents believed that healthy financial capacity will help companies sailthrough crises.
Notably, 36.36 percent hoped that the Government andcompetent agencies will continue reviewing, cutting and using funding moreeffectively.
Many said businesses can maintain a foothold anddevelop in the present context by investing in expanding the market andstepping up digital transformation.
FAST500, launched in 2011, is based on the compoundannual growth rate (CAGR) in terms of revenue and business performance. Othercriteria such as total asset, after-tax profit, and companies’ prestige on themedia are also taken into account to identify their scale and stature in theindustries they operate in.
General Director of Vietnam Report Vu Dang Vinh saidthe average CAGR of the FAST500 firms reached 28.2 percent during 2016-2019.
This period also witnessed the strong emergence ofthe private economic sector, which has continued to serve as a driver of theVietnamese economy, he noted, adding that private businesses also account forthe majority of the 500 fastest-growing companies, 83.2 percent.
Private enterprises are contributing about 42percent of GDP and 30 percent of the State budget while employing some 85 percentof the workforce nationwide. Their stable growth and increasing presence in theFAST500 rankings are also a clear illustration of this sector’s developmentpotential in the economy, Vinh added. /.
VNA
