The VNR500 ranking has entered its 18th year on the journey of finding and honoring the worthy achievements of large-scale enterprises that maintain effective and stable production and business activities - enterprises with resilience in the volatile global context that have contributed to bringing the Vietnamese economy back to the growth trajectory.
This year, Vietnam Report continues to announce two lists: Top 500 Largest Enterprises in Vietnam and Top 500 Largest Private Enterprises in Vietnam.
Statistics from VNR500 Ranking 2024
Statistical results from the VNR500 Ranking in 2024 show that the Industry - Construction sector is still one of the driving forces of economic development with an overwhelming number of enterprises, although total revenue has decreased slightly compared to the previous year (down 0.7%). Total revenue of the Service sector increased by 13.7% and the Agriculture - Forestry - Fishery sector decreased by 7.8% compared to the previous year...
In terms of criteria for evaluating the business performance of VNR500 2024 enterprises, the average return on assets (ROA) and return on equity (ROE) tended to decrease, by 0.7% and 2% respectively compared to the previous year; in which, the foreign direct investment (FDI) sector recorded the best efficiency in using assets and equity.
Following the same trend as ROA and ROE, the average return on sales (ROS) decreased by 0.2% overall; of which, the State and Private sectors decreased by 1.9% and 2.4% respectively, while the FDI sector increased by 0.1% compared to the previous year.
"Dawn" comes to Vietnamese businesses
2024 is considered an important pivotal year for the 2021-2025 planning goals. From a macro perspective, GDP in the first 9 months of 2024 grew by 6.82%, much higher than the same period in 2023 and similar to the growth rate in the same period in the years before the pandemic.
In the first 10 months of 2024, newly registered and adjusted FDI capital increased by 14.3% over the same period; the industrial production index (IIP) increased by 8.3%. Total import-export turnover of goods is estimated at 647.87 billion USD, up 15.8%; international visitors are over 14.1 million, up 41.3% over the same period. These are a series of impressive numbers showing the dawn of the economy as well as the Vietnamese business community.
According to the survey results of Vietnam Report, many businesses recorded growth in revenue, profit and number of orders compared to 2023. The percentage of businesses with significant increases in revenue and profit was 7.7% and 10.5% respectively, much higher than the level of nearly 5% of the previous year.
The survey also showed that the top 3 industries with the greatest growth potential in the next 12 months are: Information Technology/Telecommunications (64.7%); Transportation/Logistics (41.2%); and Electricity/Energy (29.4%).
The "headwind" has not yet dissipated and policies to support Vietnamese enterprises
Vietnam's economy has passed the most difficult period and is moving into recovery in 2024, but geopolitical instability remains, even increasing, affecting the economies of other countries/regions.
According to businesses, the top 6 biggest difficulties today include: Economic and political instability (77.2%); Competition between businesses in the same industry (74.3%); Increasing prices of input materials (57.1%); Slow growth of the world economy (51.4%)...
Accordingly, businesses proposed a number of key solutions: Continue to support tax and fee exemptions and reductions or extend tax payment deadlines for businesses (84.6%); Stabilize the macro economy, control inflation (71.8%); Cut administrative procedures, simplify regulations related to business activities (53.8%)...
2024 is a year that marks businesses that have stood firm and adapted after a difficult period, achieving encouraging results. Perseverance and innovation in business operations not only help businesses complete their plans but also contribute to the effort to bring the economy to the expected annual growth rate.
This is a solid foundation, creating the premise for remarkable developments in the final year of the 5-year Plan 2021 - 2025. This effort deserves recognition in order to spread positive momentum, encouraging the business community to contribute to the sustainable development of the national economy.
