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VietNamNews

FAST500 businesses announced

Update: February, 21/2012 - 11:21

HA NOI - Viet Nam Report Joint Stock Company (VNR) yesterday officially announced the first FAST500 – a list of 500 companies with the fastest growth rates in Viet Nam.

The companies have retained high growth rate despite a slight decrease over last year.

The 500 businesses have an average growth rate of 57 per cent in the period of 2007-2010, while those last year was 54 per cent.

The top 50 firms grew at a rate of 127 per cent, while top 100 grew at 94 per cent.

The private sector this year showed its role in the economy as they accounted for 71.6 per cent of the list. State-owned businesses held only 22.2 per cent.

FAST500 which has been held for two consecutive years is aimed at highlighting effectively run companies with a fast growth rate.

The ranking showed businesses that have coped well in the global economic downturn and difficulties in the local economy.

A survey carried out by VNR last month showed that up to 70 per cent of private companies planned to expand their business and increase investment this year despite the global economic meltdown.

In addition, several FAST500 enterprises have been optimistic that their growth rate in the next two years would still be high.

The list revealed that the number of labours last year was more than 313,000, much higher than that of over 276,000 in 2010.

Ha Noi and HCM City still account for more than a half of FAST500 companies, including 144 in the capital and 120 in HCM City.

Some provinces with difficulties have also had businesses listed in the FAST500, such as central Nghe An Provinces and central highland Dac Lac Province.

Enterprises operating in agriculture and exports have continued to create jobs for the country.

FAST500 businesses' have a role in ensuring social welfare.

Companies in processing, production and construction sectors accounted for a large proportion on the list as well with 29 per cent.

However, petroleum trading and services firms held a majority of the turnover on the list.

VNR rates companies according to independent criteria, including total assets, benefits and the number of employees. -- VNS

Top 10 of FAST500

1. Thanh Dat Steel Joint Stock Company

2. Van Diem Paper Joint Stock Company

3. Dong Thap Agriculture Development and Services Company

4. TMG Company Ltd

5. Viet Tin Nutrition Joint Stock Company

6. Vegetables and Fruit company

7. Oxygen Chemicals Joint Stock Company

8. Viet Thai Commerce and Technical Services Joint Stock Company

9. Magic Flame Joint Stock Company

10. Lam Son Import-export Trading Company

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