The top 10 in the 2024 list of the top 500 fastest growing enterprises in Vietnam. The top 10 businesses consist of Binh ThuanPlastic Group JSC, HD Securities Corporation, Orient Securities Corporation, ImediaTechnology and Services JSC, SOL E&C Construction Investment JSC, Vietnam VitadairyMilk JSC, Taseco Land Investment JSC, Stellapharm J.V. Co. Ltd, CNC TechnologySolutions JSC, and Bee Logistics Corporation.
The rankings were based on severalcriteria, including compound annual growth rates, total assets,equity, pre-tax profits, and media reputation.
Asidefrom releasing the FAST500 rankings, the Vietnam Report JSC also announced the results of abusiness survey.
Accordingly, 51.7% and 46.7% of theinterviewed companies said they failed to achieve last year’s revenue andprofit targets, respectively. Both the rates of companies reaching andsurpassing the two targets were lower than in 2021 - 2022. Notably, the ratesof those with declined revenue and profits increased almost twice and 1.5-foldcompared to the same period of 2021 - 2022.
GeneralDirector of the Vietnam Report JSC Vu Dang Vinh said after a trying period, it is noteasy to shore up market confidence, as well as business confidence. In particular,as difficulties still linger on, even staying afloat becomes a considerablechallenge to enterprises.
He cited statistics showing thatthe number of companies withdrawing from the market in the first two months of2024 was higher than the figure of firms entering the market and resuming operations. Amongthem, the number of enterprises suspending operations topped 49,000, up 27.1%year on year.
Vinhnoted that though grey still dominates the panorama, it is encouraging that businessoptimism has improved in part. In the survey, conducted in January - February, businessesrated the economic prospect 3.5 out of 5 – higher than in 2023, and their ownprospect 3.8.
Enterprise optimism can create apositive cycle, he said, adding that it also reflects their readiness to face challengesand seek opportunities in all circumstances, along with their confidence andadaptability in a challenging business environment./.
VNA
