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Overview of Vietnam’s economy revealed by VNR 500
Gold and petroleum companies have gained the upper hand, while securities companies have fallen grades, according to the ranking of the top 500 Vietnamese businesses (VNR 500), released by VietNamNet and Vietnam Report on November 25.
Gold companies appear in top 10, top 50
Gold, silver and gemstone companies have never before gained such an impressive improvement on the VNR 500. These businesses nearly doubled in number and jumped in grades, many making the top 50. Gold companies can be seen on the list as among the 10 biggest private businesses in Vietnam.
The Saigon Jewelry Company (SJC) is a typical example. The company has made a major leap from the 11th grade in 2008 to the sixth in 2009. The rise of gold companies shows that gold trading is now a profitable business.
Meanwhile, key industries still keep leading roles, especially petroleum, finance and banking, steel, telecommunication and seafood. Though petroleum companies always complain about loss and difficulties, they still dominate the list, accounting for 30 percent of the top 10 Vietnamese businesses.
Vietnam National Oil and Gas Group (PetroVietnam) tops the VNR 500 ranking, while the Vietnam National Petroleum Corporation (Petrolimex) lands in second. PV Oil, also a member of the “petroleum family,” ranks eighth.
The finance and banking sector has maintained a stable position, with the majority listed in the top 100.
Commercial banks have one representative, Agribank, in VNR 500’s top 10 list and three more on the list of the top 10 private businesses: Asia Commercial bank, Sacombank and Techcombank.
Private sector marching forward
Two business fields considered “hot” in 2008 have not been ranked as highly for 2009. None have been listed in the top 10 of Vietnam’s biggest enterprises or biggest private enterprises. Other business fields have maintained their ranking in 2009.
Only 10 percent of businesses on 2008’s VNR 500 have been weeded out in 2009, proving the stability of Vietnam’s market.
The 2009 list also reveals the considerable progress of private businesses. More private enterprises from more fields have added their names. Their “occupancy” rate on the VNR 500 increased from 24 percent in 2008 to 30 percent in 2009.
The jump in grades made by private businesses is also significant, demonstrating the ability of businesses to survive the economic downturn.
The list of Vietnamese top 10 businesses, now available on www.vnr500.com.vn:
1. Vietnam National Oil and Gas Group (PetroVietnam)
2. Vietnam Petroleum Corporation (Petrolimex)
3. Electricity of Vietnam (EVN)
4. Vietnam Coal and Mineral Industries Group (Vinacomin)
5. Vietnam Post and Telecommunication Group (VNPT)
6. Saigon Jewelry Company (SJC)
7. Bank for Agriculture and Rural Development (Agribank)
8. PetroVietnam Oil Corporation (PV Oil)
9. Military Telecom Corporation (Viettel)
10. Vietnam Shipbuilding Industry Group (Vinashin).
Dam Anh
VIETNAMNET
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