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PetroVietnam awarded in top firms list
The Viet Nam Report Joint Stock Company (Viet Nam Report) officially announced the top 500 Vietnamese companies of 2010 (VNR500).
The winners were presented with awards in HCM City last Saturday.
The Viet Nam National Oil and Gas Group (PetroVietnam) topped the list of five largest State-owned enterprises, followed by the Viet Nam National Petroleum Corporation (Petrolimex), the Electricity of Viet Nam (EVN), the Viet Nam Posts and Telecommunications Group (VNPT) and the Viet Nam National Coal and Mineral Industries Holding Corporation Ltd (Vinacomin).
The top five largest private businesses included the Sai Gon Gold and Silver ACB-SJC Joint Stock Company, the Corporation for Financing and Promoting Technologies (FPT), the Asia Commercial Joint Stock Bank (ACB), the Viet Nam Dairy Products Joint Stock Company (Vinamilk) and the DOJI Gold and Gem Group.
On the occasion, about 400 leaders from the selected businesses attended the forum "Large businesses and their leading role".
The VNR500 Forum 2011 also drew the participation of leading experts from inside and outside of the country, including Prof Stephen M Walt from Harvard University and Alex Malley, CEO of the Australian Association of Certified Practising Accountants (CPA Australia).
According to participants at the forum, large businesses should not only focus on business operations but also have an important and active leading role in addressing social issues such as education, health, and diplomacy.
Nearly half of the companies in the VNR500 are State-owned enterprises. Foreign-invested and private companies accounted for 23.8 per cent and 31.2 per cent, respectively.
The proportion of private companies on the VNR500 has increased yearly, accounting for 24 per cent of the enterprises listed in 2008 and 30 per cent in 2009.
The Viet Nam Report ranks companies according to independent criteria, including the enterprises benefits, total assets and number of employees.
VNR500 is independently surveyed by Viet Nam Report with support and guidance from domestic and foreign experts, which is headed by Associate Dean of Harvard's Business School John Quelch. The organising board said it based the rankings on the Forbes 500 list and on international standards.
The database was sourced from total assets, turnover, profit, growth rate and employee figures that were compiled by the General Statistics Office and surveys.
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