Announcing the Ranking of Top 500 Largest Enterprises in Vietnam in 2024

According to Mr. Vu Dang Vinh, General Director of Vietnam Report, statistical results from this year's VNR500 Ranking show that the industry-construction sector is still one of the driving forces of economic development.

Assembling smartphones at Samsung Electronic Vietnam Thai Nguyen Company - Yen Binh Industrial Park, Thai Nguyen. (Photo: Hoang Nguyen/VNA)

On November 8, in Hanoi , Vietnam Report Joint Stock Company (Vietnam Report) in collaboration with VietNamNet Newspaper announced the VNR500 Ranking - Top 500 Largest Enterprises in Vietnam in 2024.

The ranking recognizes and honors the worthy achievements of large-scale enterprises that maintain effective and stable production and business activities; thereby demonstrating their resilience, overcoming unexpected storms and fluctuations from the international context, contributing to bringing the country's economy back to the growth trajectory.

This year, there are 2 lists: Top 10 Ranking of Top 500 largest enterprises in Vietnam in 2024, including brands such as: Samsung Electronics Vietnam Thai Nguyen Limited Liability Company, Vietnam Oil and Gas Group, Vietnam National Petroleum Group, Vingroup Corporation - Joint Stock Company, Vietnam Bank for Agriculture and Rural Development, Vietnam Joint Stock Commercial Bank for Investment and Development, Military Industry-Telecom Group, Vietnam Joint Stock Commercial Bank for Industry and Trade, Binh Son Refining and Petrochemical Joint Stock Company and Vietnam National Coal-Mineral Industries Group.

In the private sector, there are Top 10 of the Top 500 largest private enterprises in Vietnam in 2024, including: Vingroup Corporation - Joint Stock Company, Hoa Phat Group Joint Stock Company, Mobile World Investment Joint Stock Company, Vietnam Prosperity Joint Stock Commercial Bank, Masan Group Joint Stock Company, Doji Gold and Gemstone Group Joint Stock Company, Vietnam Technological and Commercial Joint Stock Bank, Truong Hai Group Joint Stock Company, Saigon Thuong Tin Commercial Joint Stock Bank and Vietnam Dairy Products Joint Stock Company.

The VNR500 ranking has entered its 18th year with many contributions, thereby introducing Vietnamese business brands to the business community as well as domestic and international investors, creating connections with the world's leading entrepreneurs and scholars through a series of activities to support brand development.

The production line specializes in stamping, casting, plating, and assembling electronic components for the electronics industry. (Photo: Tran Viet/VNA)

Mr. Vu Dang Vinh, General Director of Vietnam Report, said that through a survey of statistical results from the VNR500 Ranking in 2024, it was shown that the industrial-construction sector is still one of the driving forces of economic development with an overwhelming number of enterprises, although total revenue has decreased slightly by about 0.7% compared to the previous year. Meanwhile, in the service sector, total revenue has improved by 13.7% compared to the previous year.

Financial enterprises achieved a growth rate of more than 23.1% in total revenue compared to the same period. As for the agriculture-forestry-fishery group, due to facing difficulties and no new orders in 2023, total revenue at the end of the year decreased slightly by 7.8% compared to the previous year.

In terms of the criteria for evaluating the business performance of all enterprises in the VNR500 2024 ranking, the average return on assets (ROA) and return on equity (ROE) tended to decrease, down 0.7% and 2% respectively compared to the previous year in the overall ranking; in which, the foreign direct investment (FDI) sector recorded better efficiency in using assets and equity than the State and private sectors.

Sharing the same trend as ROA and ROE, the average return on sales (ROS) decreased by 0.2% overall; in which the State and private sectors had a common downward trend of 1.9% and 2.4% respectively, while the FDI sector recorded an increase of 0.1% compared to the previous year, Mr. Vinh emphasized./.

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