Việt Nam’s 500 largest enterprises in 2022 announced

In 2022, Việt Nam was a bright spot in the region's economy, with GDP growth of 8.02 per cent, but businesses in the VNR500 saw worse performance than in 2021.

Việt Nam’s Top 500 largest enterprises in 2022, called the VNR500, maintained their position and role as economic leaders, showing strong resilience, and ability to gradually overcome difficulties.

This information was announced at the VNR500 award ceremony and top 10 prestigious companies in the fields of pharmacy, logistics, tourism, transportation and animal feed in 2022 held by Vietnam Report JSC and VietNamNet online newspaper on Thursday.

The VNR500 list includes Samsung Electronics Thái Nguyên Co Ltd, Vietnam Oil and Gas Group (Petrovietnam), Việt Nam Electricity (EVN), Việt Nam National Petroleum Group (Petrolimex), Hòa Phát Group JSC, Viettel Military Industry and Telecoms Group (Viettel), Vingroup JSC, Việt Nam Bank for Agriculture and Rural Development (Agribank), Mobile World Investment Corporation and Joint Stock Commercial Bank for Investment and Development of Việ Nam (BIDV), among others. These are the businesses that regularly lead the VNR500 rankings.

The Hòa Phát Group JSC, Vingroup JSC and Mobile World Investment Corporation, together with Masan Group, Doji Gold & Gems Group JSC, Việt Nam Prosperity Joint Stock Commercial Bank (VPBank), Việt Nam Diary Products JSC (Vinamilk), Trường Hải Group, Thành Công Group and Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) are the top 10 private firms in VNR500.

Vũ Đăng Vinh, General Director of the Vietnam Report JSC, stressed that the businesses have maintained their roles as engines of the national economy. He hailed their effective strategies, progress in digitalisation and new administrative mindset.

In 2022, Việt Nam was a bright spot in the region's economy, with GDP growth of 8.02 per cent, but businesses in the VNR500 saw worse performance than in 2021.

Statistics from the VNR500 ranking in 2022 showed that most industries suffered a decrease in revenue compared to last year's ranking. The biggest bright spot came from retail, with a total revenue growth of up to 120 per cent.

Return on equity (ROE) of the enterprises decreased sharply compared to last year, from 16.4 per cent to 11.2 per cent. Return on assets (ROA) and return on sales (ROS) recorded slight increases for FDI and private enterprises, but a decrease for SOEs.

Vietnam Report recognised five major difficulties faced by the VNR500 business community in 2022, including fluctuations in energy prices and input materials; competition among enterprises in the same industry; supply chain risks; pressure from the rising exchange rate; and decreasing demand for shopping and consumption.

On this occasion, Vietnam Report debuted a bilingual report – Việt Nam Economic White Paper 2023 - which reviews achievements the country recorded in 2022, collects viewpoints of experts and businesspeople on economic policies as well as lessons to overcome difficulties, and mentions forecasts for Việt Nam’s economy in 2023.