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Report spotlights 500 fastest-growing firms

Update: February, 22/2012 - 10:51
HA NOI — Viet Nam Report Joint Stock Co yesterday published its first FAST500 – a list of 500 companies with the fastest growth rates in Viet Nam.

The 500 businesses have an average growth rate of 57 per cent in the period of 2007-10, 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.


FAST500's Top 10

1. Thanh Dat Steel Joint Stock Co

2. Van Diem Paper Joint Stock Co

3. Dong Thap Agriculture Development and Services Co

4. TMG Co Ltd

5. Viet Tin Nutrition Joint Stock Co

6. Vegetables and Fruit Co

7. Oxygen Chemicals Joint Stock Co

8. Viet Thai Commerce and Technical Services Joint Stock Co

9. Magic Flame Joint Stock Co

10. Lam Son Import-export Trading Co

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 workers 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 Province and Central Highland Dak Lak 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 also accounted for a large proportion of the list with 29 per cent. Petroleum trading and services firms held a majority of the turnover on the list. — VNS

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