Announcing the list of Top 50 creative and effective businesses

Within the framework of the National Research Program on Innovation and Reform, Investment Newspaper in collaboration with Viet Research announced the list of Top 50 innovative and effective Vietnamese enterprises in 2023 (VIE50).

The list includes businesses that apply innovation and creativity in production and business activities, have effective business results and good growth potential.

Business efficiency and innovation achievements are the two main criteria for evaluating and selecting enterprises in the list of Top 50 creative and effective businesses in Vietnam in 2023, which is fully published on the website: https://vie50.vn .

Announcing the list of Top 50 creative and effective businesses - 1

VIE50 Business Recognition: Growth and Innovation

In terms of industry structure, most of the VIE50 enterprises are concentrated in 5 main industry groups: Processing and manufacturing; Technology - Telecommunications; Banking - Finance; Healthcare and Logistics with respective proportions of 28%, 14%, 12%, 10% and 8%.

These are also the top 5 industries in promoting innovation, creativity and business efficiency brought about by innovation and creativity for main reasons such as international integration, competitive pressure in the industry, increased investment in technology and human resources in the new economic context.

Announcing the list of Top 50 creative and effective businesses - 2 — Business efficiency and proportion of VIE50 enterprises - 2023. (Source: According to survey results of VIE50 Program, 2023)

In terms of enterprise size, most of the VIE50 enterprises are medium and large-sized enterprises, with an average revenue of about 45 trillion VND in the 2021-2022 period; at the same time, the list also recognizes a few enterprises of modest size but have achieved achievements in innovation, product innovation, service innovation, or corporate culture.

Announcing the list of Top 50 creative and effective businesses - 3 — Outstanding features of VIE50 enterprises - 2023. (Source: According to survey results of VIE50 Program, 2023)

VIE50 enterprises have shown the clearest picture of business efficiency as well as innovation and renewal capacity in their operations, especially in difficult market periods. The production and business efficiency of VIE50 enterprises is clearly demonstrated through the average growth rate of revenue and profit in the period of 2020-2022, reaching 14.9% (revenue) and 43.6% (profit).

In addition, VIE50 enterprises have demonstrated a strong spirit, strategy and culture of innovation with increasingly diverse types of innovation.

A survey of VIE50 enterprises shows that up to 84% believe that innovation is extremely or very important to their business growth strategy. Only innovative and creative enterprises are the enterprises of the future, characterized by a high level of awareness, flexibility and adaptability to changes, and the ability to successfully integrate new technologies into existing systems with minimal time and cost.

Announcing the list of Top 50 creative and effective businesses - 4 — Forms of innovation bring success to VIE50 businesses. (Source: According to VIE50 Program survey results, 2023)

Investment in innovation of Vietnamese enterprises is still modest.

In Vietnam, several large enterprises in VIE50 in recent years have really taken part, such as the Military Telecommunications Group (Viettel), the National Oil and Gas Group (PVN), FPT Corporation, Rang Dong Light Bulb and Vacuum Flask Joint Stock Company... in technology transfer and R&D development.

However, according to the latest survey data from the Ministry of Science and Technology, Vietnamese enterprises on average spend only about 1.6% of their annual revenue on R&D activities, much lower than many countries in the region.

According to research, most of our businesses are not proactive in developing human resources, technology research and development activities, product and service development, innovation activities or simply need to improve organizational processes to improve productivity, quality and production and business efficiency.

Announcing the list of Top 50 creative and effective businesses - 5 — Challenges and barriers to innovation activities at VIE50 enterprises. (Source: According to VIE50 Program survey results, 2023)

As economies grow and businesses move up the global value chain, they are forced to innovate and be creative to compete successfully.

Business leaders must constantly look for new ways to innovate and change because we simply cannot solve many problems with old solutions!

The announcement ceremony of the list of Top 50 Vietnamese Innovative and Effective Enterprises in 2023 (VIE50) and the results of the Research Program on Innovation in Enterprises will be officially announced at the Innovation Conference held in June 2023 in Hanoi.
Details available at https://vie50.vn.

Bao Anh

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