On the list, PetroVietnam is followed by Samsung Vietnam, Viettel Group and the Electricity of Vietnam (EVN).
The report was released on December 14 by the Vietnam Report Company (VNR) and online news site VietnamNet. The VNR500 list which follows the Fortune 500 model has honored firms with outstanding achievements in 2016. An awards ceremony will be held in Hanoi on January 19 to honour the 500 companies on the list
On the 500 largest private firms list, Truong Hai Auto Corporation is ranked first, followed by Vietnam Dairy Products Company (Vinamilk), Doji Gold, FPT Corporation and Vingroup Joint Stock Company.
The report also indicated that the top 500 firms were optimistic about production and business in the first 10 months of the year. The number of labourers employed by enterprises was stable in the reviewed period. In the first quarter of 2017, 60 percent of the enterprises in the list are expected to maintain their labourers.
The enterprises will remain stable or improve, in terms of turnover, profit and overall production, compared to the last quarter of this year, the report forecasted.
According to the report, around 80 percent of the enterprises will scale up their business, and 19 percent plan to expand, while only 5 percent will maintain their current situation.
The current trend of integration and co-operation will gather more steam, the report said. Many investors from Thailand, Japan and the Republic of Korea are expected to enter the Vietnamese market through merger and acquisition (M&A) or through joint venture projects.
Around 25 percent of the surveyed firms said M&A and joint venture negotiations have been underway for the past three years, while 10 percent of the companies said they are looking for business cooperation.
In 2017, the economy shows positive prospects as big world economies have been gradually getting over their economic crises. Vietnam’s restructuring plan in the 2016-20 period is expected to create breakthroughs and allow companies to grow and expand their businesses.
