PetroVietnam tops list of 500 lead earners

PetroVietnam remains at the top of the  五00 Vietnamese biggest enterprises list in terms of revenue (VNR 五00) this year. — Photo vietnamplus.vn

HÀ NỘI — State-run Việt Nam Oil and Gas Group (PetroVietnam) remains on top of the  五00 largest Vietnamese enterprises list (VNR 五00) in  二0 一 六 in terms of revenue.

Trường Hải Auto Corporation is named the country’s largest private enterprise.

The Top  五00 Largest Enterprises list from the Revenue Ranking Board follows the Fortune  五00 model. It was released on Wednesday by the Việt Nam Report Company (VNR) and online news site VietnamNet.

The  一0th year of the VNR 五00 list has honoured firms with outstanding achievements in  二0 一 六.

On the list, PetroVietnam is followed by Samsung Việt Nam, Viettel Group and the Electricity of Việt Nam (EVN).

On the  五00 largest private firms list, Trường Hải Auto Corporation is followed by Việt Nam Dairy Products Company (Vinamilk), Doji Gold, FPT Corporation and Vingroup Joint Stock Company.

VNR’s survey shows that the top  五00 firms were optimistic about production and business in the first  一0 months of the year. However,  一 六 per cent of the surveyed firms reported decreasing turnover, while  一 五 per cent expected reduced after-tax profit in the  一0-month period compared to the same period last year. Local companies have been facing many hurdles because of fluctuations and changes in the world economy and politics.

The report said the number of labourers employed by businesses was stable. In the first quarter of  二0 一 七,  六0 per cent of the businesses are expected to maintain their labourers. It is also forecast that in the next quarter, business will remain stable or improve, in terms of turnover, profit and overall production, compared to the last quarter of this year.

Around  八0 per cent of the enterprises will scale up their business, and  一 九 per cent plan to expand, while only  五 per cent will maintain their current situation.

The current trend of integration and co-operation will gather more steam, the report said. So many investors from Thailand, Japan and South Korea will likely enter the Vietnamese market through merger and acquisition (M A) or through joint venture projects. Around  二 五 per cent of the surveyed firms said M A and joint venture negotiations have been underway for the past three years, while  一0 per cent of the companies said they are looking for business co-operation.

In response to their strengths and weaknesses in the international market,  六0 per cent of the companies said their strengths were management skills and stable supplies. However, only  二 五 per cent of the enterprises said their products and services were a strength, and  一 二 per cent said their marketing activities were still a weakness.

The VNR suggest that large local firms should promote their brand names and improve productivity if they want to step into the global market.

In  二0 一 七, the economy shows positive prospects as big world economies have been gradually getting over their economic crises. Việt Nam’s restructuring plan in the  二0 一 六- 二0 period is expected to create breakthroughs and allow companies to grow and expand their businesses.

An awards ceremony will be held in Hà Nội on January  一 九 to honour the  五00 companies on the list. — VNS