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Top 500 fastest growing enterprises 2024 announced

A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 25.
Top 500 fastest growing enterprises 2024 announced ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – A ceremony to announce the list of thetop 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 realestate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 24.

This marks the 14th consecutive year of the FAST500 list beingannounced. The event aimed to honour outstanding achievements and great effortsof the Vietnamese business community during the recent turbulent times.

The top 10 businesses are the Binh Thuan Plastic Group JSC,HD Securities Corporation, Orient Securities Corporation, Imedia Technology andServices JSC, SOL E&C Construction Investment JSC, Vietnam Vitadairy MilkJSC, Taseco Land Investment JSC, Stellapharm J.V. Co. Ltd, CNC TechnologySolutions JSC, and Bee Logistics Corporation.

The rankings were based on several criteria, including compound annual growthrates, total assets, equity, pre-tax profits, and media reputation.

The honoured companies are key players in the construction andreal estate sectors. They have achieved significant achievements in providing productsto customers, established impressive reputations among the public andinvestors, demonstrated strong resilience with stable financial capabilitiesand robust resistance when facing challenging market conditions.

General Director of theVietnam Report JSC Vu Dang Vinh noted that faced with the onslaught of'headwinds” in recent times, productions and business activities of Vietnameseenterprises have somewhat faltered due to the weakening of overall demand bothdomestically and globally.

Vietnam Report’s survey indicates that up to 51.7% and 46.7% of theinterviewed companies said they failed to achieve last year’s revenue andprofit targets, respectively in 2023. Both the rates of companies reaching andsurpassing the two targets were lower than in 2021 - 2022. Notably, the ratesof those with declined revenue and profits increased almost twice and 1.5-foldcompared to the same period of 2021 - 2022.

Meanwhile, despite the ups and downs of 2023, the real estate -construction - building materials market is gradually recovering, Vinh said, emphasisingthe role of the Government and the flexible adaptation ability of businesses tohelp them obtain stronger recovery.

Within the framework of the ceremony, the Vietnam Report publisheda bilingual report on Vietnam's economic growth in 2024, which provides assessmentsof the macroeconomic prospects and business outlook for this year, and updateson challenges, motivations for growth, and promising sectors in the comingtime./.
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