The National Oil and Gas Group (PVN) has been named as Vietnam's largestcompany in terms of revenue, the VNR500 report announced on December 9.
Thereport, compiled by consultancy firm Vietnam Report (VNR), lists the500 largest companies in Vietnam in terms of revenue in 2014.
This is the seventh consecutive year that PVN has taken the top position.
Therunners-up are the Republic of Korea-invested firm Samsung ElectronicsVietnam and Petrolimex, the main distributor of oil refinery products.
The total revenue of the top 10 businesses in the list was 110.33 billion USD.
Statisticsfrom the report show that State-owned enterprises (SOEs) still hold amajor position in the economy, as they account for 59 percent of the top500 firms in terms of the total revenue.
In addition, the reportsays that 15 percent of the large businesses came from the minerals andpetroleum sector, contributing 33 percent of the total revenue. It wasfollowed by the power sector with 19 percent, and the finance andbanking sector with 10 percent.
The report adds that the economicstructure should be adjusted by reducing dependence on naturalresources, and encouraging the manufacturing and information sectors.
VNRalso says that foreign direct investment (FDI) businesses have improvedtheir position in the economy as they contributed 22 percent of thetotal revenue in the list. Of these, Samsung Electronics Vietnam is theonly FDI firm in the top 10 companies.
VNR's survey also revealsthat the top 500 companies are confident about business results thisyear, as more than half of them expect higher revenue, profits, labourproductivity and orders in comparison with last year.
More than64 percent of the surveyed firms said that their production and businesswould be better this year; 28 percent predicted that the situationwould be stable, while seven per cent said that it would be worse.
Notably,around 95 percent of the businesses forecast that the businessoperations next year will be stable and better than this year,especially in terms of turnover, profits and orders.
Most of thesurveyed companies said that the restructuring in public investment andSOEs had not been effective, while that in finance and the bankingsector was relatively effective.
Hanoi took the lead among thecountry's localities in attracting FDI firms, as it accounted for 45percent of the total revenue. It was followed by HCM City with 21percent and Bac Ninh province with 10 percent.
Investments fromSamsung Electronics Vietnam and Nokia have made Bac Ninh province alocality that makes high contributions to the list.
More than 76percent of the surveyed businesses said that the government shouldcontinue to help the macro-economy, especially by curbing inflation.This could help them provide exact forecasts on the business outlook,avoid financial risks and promote investment in the long-term period.
Top 10 companies in terms of revenue
1. The National Oil and Gas Group (PVN)
2. Samsung Electronics Vietnam
3. Vietnam National Petroleum Group (Petrolimex)
4. The Electricity of Vietnam (EVN)
5. Military Telecom Group (Viettel)
6. Binh Son Refining and Petrochemical Company
7. Vietnam Posts and Telecommunications Group (VNPT)
8. PetroVietnam Oil Corporation (PV Oil)
9. The Vietnam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin)
10. The Vietnam Bank for Agriculture and Rural Development (Agribank).-VNA
Thereport, compiled by consultancy firm Vietnam Report (VNR), lists the500 largest companies in Vietnam in terms of revenue in 2014.
This is the seventh consecutive year that PVN has taken the top position.
Therunners-up are the Republic of Korea-invested firm Samsung ElectronicsVietnam and Petrolimex, the main distributor of oil refinery products.
The total revenue of the top 10 businesses in the list was 110.33 billion USD.
Statisticsfrom the report show that State-owned enterprises (SOEs) still hold amajor position in the economy, as they account for 59 percent of the top500 firms in terms of the total revenue.
In addition, the reportsays that 15 percent of the large businesses came from the minerals andpetroleum sector, contributing 33 percent of the total revenue. It wasfollowed by the power sector with 19 percent, and the finance andbanking sector with 10 percent.
The report adds that the economicstructure should be adjusted by reducing dependence on naturalresources, and encouraging the manufacturing and information sectors.
VNRalso says that foreign direct investment (FDI) businesses have improvedtheir position in the economy as they contributed 22 percent of thetotal revenue in the list. Of these, Samsung Electronics Vietnam is theonly FDI firm in the top 10 companies.
VNR's survey also revealsthat the top 500 companies are confident about business results thisyear, as more than half of them expect higher revenue, profits, labourproductivity and orders in comparison with last year.
More than64 percent of the surveyed firms said that their production and businesswould be better this year; 28 percent predicted that the situationwould be stable, while seven per cent said that it would be worse.
Notably,around 95 percent of the businesses forecast that the businessoperations next year will be stable and better than this year,especially in terms of turnover, profits and orders.
Most of thesurveyed companies said that the restructuring in public investment andSOEs had not been effective, while that in finance and the bankingsector was relatively effective.
Hanoi took the lead among thecountry's localities in attracting FDI firms, as it accounted for 45percent of the total revenue. It was followed by HCM City with 21percent and Bac Ninh province with 10 percent.
Investments fromSamsung Electronics Vietnam and Nokia have made Bac Ninh province alocality that makes high contributions to the list.
More than 76percent of the surveyed businesses said that the government shouldcontinue to help the macro-economy, especially by curbing inflation.This could help them provide exact forecasts on the business outlook,avoid financial risks and promote investment in the long-term period.
Top 10 companies in terms of revenue
1. The National Oil and Gas Group (PVN)
2. Samsung Electronics Vietnam
3. Vietnam National Petroleum Group (Petrolimex)
4. The Electricity of Vietnam (EVN)
5. Military Telecom Group (Viettel)
6. Binh Son Refining and Petrochemical Company
7. Vietnam Posts and Telecommunications Group (VNPT)
8. PetroVietnam Oil Corporation (PV Oil)
9. The Vietnam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin)
10. The Vietnam Bank for Agriculture and Rural Development (Agribank).-VNA
