EVN and PVN are among the top 3 largest enterprises in Vietnam in 2019


On November 26, 2019, The Vietnam Report in coordination with VietnamNet Newspaper to announce VNR500 Ranking List- Top 500 Largest Enterprises in Vietnam in 2019. Among Top 10 of the Ranking List, there are three enterprises in the leading position by order as: 1- Thai Nguyen Samsung Co Ltd. Electronics, 2- Electricity of Vietnam (EVN) and 3- Vietnam Oil and Gas Group (PVN).

Top 10 largest enterprises in Vietnam 2019.

Among the top 100 enterprises in the VNR500 Ranking list, there are also many enterprises in the Oil and Gas industry such as: Binh Son Petrochemical Joint Stock Company (BSR), Vietnam Gas Corporation (PV GAS), Vietnam Oil Corporation (PVOIL), Vietnam – Russia Joint Venture (Vietsovpetro), PetroVietnam Exploration & Production Corporation (PVEP), PetroVietnam Technical Services Joint Stock Corporation (PTSC), PetroVietnam General Services Joint Stock Corporation (PETROSETCO).

This is the 13th consecutive year the VNR500 Ranking has been researched and published to honor the largest enterprises in Vietnam, achieving remarkable successes in production and business activities. Besides, the Vietnam Report also announced the Top 500 largest private enterprises in Vietnam in 2019.

The official ceremony for announcing and honoring the VNR500 Ranking List in 2019 expects to be held on January 9, 2020 in Hanoi.

For announcing the VNR 500 Ranking List in 2019, Vietnam Report had to survey the community of the large enterprises of Vietnam to assess the situations of production and business in the current period, the barriers and challenges that the large enterprises are facing and also their business prospects in the coming period.

According to Vietnam Report, in 2019, though the growth rate of world economy slowed and world trade declined, Vietnam still maintained a stable macro economy, many enterprises still maintained production levels as in previous years and achieved good profits.

The survey of Vietnam Report on activities of enterprises in 2019 showed that 49.2% enterprises with a business situation better than the previous year, 39.5% with stable business situation and 11.3% with decreasing business situation.

The survey also showed, the reasons that affected the production & businesses situation of enterprises were trade wars between the large countries/economies, complicated administrative procedures, weak competitive ability and support policies, and the lack of skilled human resources (consideration of 58.1% enterprises). The domestic commercial protection was also a maijor barrier (consideration of 45.2% enterprises).

According to forecasts of the National Center for Socio-Economic Information and Forecast (NCIF), Ministry of Planning and Investment, in the period of 2021 – 2025, Vietnam’s GDP growth rate will reach about 7% / year.

Regarding economic development in 2020, there 50% enterprises forecast that the production & business situation in the first quarter of 2020 will be in a basic stable level, 44.1% consider that economic development will increase, and only 5.9% foresee benefit will decline.

Large enterprises are the leaders in developing science and technology of many industries, creating markets, creating a pull for small and medium enterprises to participate in the production, supply of products and support services. In the context of an economy with a lot of changes, unpredictable opportunities and challenges, the enterprises need to grasp the development trend of the world, utilize the internal capabilities for improving the competitive ability and affirming their reputation.

For more information, please contact Vietnam Trade Office in Singapore at [email protected]