Top 500 fastest growing enterprises 2024 announced

A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 24.

This marks the 14th consecutive year of the FAST500 list being announced. The event aimed to honour outstanding achievements and great efforts of the Vietnamese business community during the recent turbulent times.

The top 10 businesses are the Binh Thuan Plastic Group JSC, HD Securities Corporation, Orient Securities Corporation, Imedia Technology and Services JSC, SOL E&C Construction Investment JSC, Vietnam Vitadairy Milk JSC, Taseco Land Investment JSC, Stellapharm J.V. Co. Ltd, CNC Technology Solutions JSC, and Bee Logistics Corporation.

The rankings were based on several criteria, including compound annual growth rates, total assets, equity, pre-tax profits, and media reputation.

The honoured companies are key players in the construction and real estate sectors. They have achieved significant achievements in providing products to customers, established impressive reputations among the public and investors, demonstrated strong resilience with stable financial capabilities and robust resistance when facing challenging market conditions.

General Director of the Vietnam Report JSC Vu Dang Vinh noted that faced with the onslaught of 'headwinds” in recent times, productions and business activities of Vietnamese enterprises have somewhat faltered due to the weakening of overall demand both domestically and globally.

Vietnam Report’s survey indicates that up to 51.7% and 46.7% of the interviewed companies said they failed to achieve last year’s revenue and profit targets, respectively in 2023. Both the rates of companies reaching and surpassing the two targets were lower than in 2021 - 2022. Notably, the rates of those with declined revenue and profits increased almost twice and 1.5-fold compared to the same period of 2021 - 2022.

Meanwhile, despite the ups and downs of 2023, the real estate - construction - building materials market is gradually recovering, Vinh said, emphasising the role of the Government and the flexible adaptation ability of businesses to help them obtain stronger recovery.

Within the framework of the ceremony, the Vietnam Report published a bilingual report on Vietnam's economic growth in 2024, which provides assessments of the macroeconomic prospects and business outlook for this year, and updates on challenges, motivations for growth, and promising sectors in the coming time.