PetroVietnam named Vietnam’s largest enterprise in 2014

The Vietnam National Gas and Oil Group (PetroVietnam) topped the list of Vietnam’s 500 largest enterprises (VNR500) in 2014, which was released by the Vietnam Report Joint Stock Company (Vietnam Report – VNR) at a ceremony in Hanoi on January 27. 

Samsung Electronics Vietnam Co., Ltd came in second place, followed by Vietnam National Petroleum Group (Petrolimex), Electricity of Vietnam (EVN) and Viettel Group.

Vietnam Report also published the 500 largest private companies in Vietnam, with DOJI Gold & Gems Group, Vietnam Dairy Products Joint Stock Company, FPT Corporation and Vingroup Joint Stock Company making the top four positions of the list.

According to VNR statistics, State-owned enterprises still made up the larger proportion of 2014 VNR500. The minerals, oil and petroleum industry remained the “richest”, creating 32.9% of VNR500’s total revenues, followed by the electricity sector (19%) and the banking and finance sector (10.3%).

Notably, 41 of the 2014 VNR500 enterprises secured their place in the ‘Billion-Dollar Club” (including businesses with over US$1 billion in total revenues), accounting for over 8% of the VNR500. Another eight enterprises met the requirements to make the US’s Fortune 500.

At the ceremony, Vietnam Report also announced the list of the top 50 Vietnamese enterprises of 2014 which affirmed their status via the rating criteria: scales, profits, largest contribution to State budget and best growth rate in the 2010-2013 period.

On the occasion, Vietnam Report introduced a bilingual white paper regarding Vietnam’s 2014 economy and investment opportunities in 2015.

The VNR500 rating has been constructed scientifically and independently and is internationally standardized by Vietnam Report, aiming to honour Vietnamese enterprises’ business achievements in each financial year. Compiled based on the US’s Fortune 500 model, VNR500 rates businesses according to major criteria, which include profits, growth rate, number of employees, assets and media prestige. Besides VNR500, Vietnam Report also announces the top 500 largest private enterprises in Vietnam, with the selected ones having private capital larger than or equal to 51%.
 

Nhan Dan
PetroVietnam, VNR500
 
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