Oil and gas giant PVN remains Việt Nam’s largest firm

A PVN

The state-run oil and gas group Petro Việt Nam (PVN) has maintained its position on top of the list of Việt Nam’s 500 largest companies by gross revenues, according to the VNR500 report released Monday.

“Just like the VNR500 reports of the last five years, the top ten list this year is still dominated by state-run enterprises,” the report author, the Việt Nam Report Company, wrote on its website.

PVN is followed by the country’s largest fuel wholesaler Petrolimex, and the Việt Nam Posts and Telecommunications Group (VNPT).

“Samsung Electronics Vietnam Co Ltd made a surprising presence in top five this year,” the report stated.

The electronics company stands at fourth place, followed by Joint Venture Vietsovpetro.

Besides the main revenue criteria, the report ranking is also based on growth rate, workforce, and total assets of the enterprises.

State-run companies account for 63 percent of the total revenues of all enterprises in the list, while private enterprises have increased their presence, the report said.

While only 103 private enterprises made it to the VNR500 in 2007, the figure this year has more than doubled to 225.

Việt Nam Report Company also released a VNR500 report for domestic private enterprises.

The top five of this list are Doji Gold and Gems Group, Asia Commercial Joint Stock Bank, FPT Corporation, Vinamilk, and Techcombank.

Source: tuoitrenews.vn

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