In
2011, although Vietnam's economy faced many difficulties still 500 Vietnamese
largest enterprises were able to post outstanding growths in revenue over
previous year, Vu Dang Vinh, Vietnam Report's general director said.
According to Vinh, the criteria to rank VNR500
in 2011 had some modifications in comparison with 2010 when minimum revenue of
enterprises reached over 1.5 trillion dong while previously; the requirement
was only 1.2 trillion dong. For private enterprises, the minimum revenue of
companies must reach over 600 billion dong.
However, despite stricter criteria together
with rougher business conditions, the revenue of enterprises at the bottom of
the VNR 500 in 2011 was still higher than that of 2010 by 20 percent. This was
also why 27 percent of enterprises in the ranking list in 2010 were excluded
from 2011 ranking list.
Vinh noted about the strong emergence of
private company group in the VNR 500 in 2011, with about 37.4 percent in the
ranking list while in 2009 the proportion was only 30 percent and it was 31.2
percent in 2010.
VNR 500 results also showed that the
state-dominated corporations, groups and companies continued to account high
percentage in the rankings in 2011 at a rate of 41.6 percent.
Top ten Vietnamese largest companies were
still familiar giants such as Vietnam National Oil and Gas Group
(PetroVietnam-PVN), Vietnam National Coal and Minerals Industries Group
(Vinacomin) and Electricity of Vietnam (EVN).
Notably, the Top 30 first companies in the
ranking list in 2011 are eligible to join the club of $1 billion revenue with
average revenue of $3.2 billion.
In addition, the Top 50 first companies in the
ranking list in 2011 meet the revenue criteria to be able to stand in the
Forbes 2000 ranking list on Top 2000 globally largest companies.
In the context of economic difficulties, the
majority of Vietnam's largest businesses' leaders are aware that, it is
necessary to have efforts, self-creation from businesses' leaders, a consensus
of officials and employees, association and business expansion of Vietnamese
enterprises in the international market to create competitiveness and momentum
for enterprises to overcome difficulties and seize new opportunities in 2012.
Representative of Intimex Group Joint Stock Co
said that Intimex Co jumped three steps from 14th position to 11th place (in
comparison with 2010) in the ranking list of Vietnam's largest private firms.
To get these three steps, Intimex had to make
a great effort and its revenue must increase one and half times year-on-year.
This showed a huge competitive pressure in the market.
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