The companies in the top 500 fastest-growing companies in Vietnam (FAST500) in 2023. (Photo courtesy of the organiser) The others in the top 10 included Vantage Logistics Corporation,Bee Logistics Corporation, Super Cargo Service Company Limited, Deo Ca TrafficInfrastructure Investment JSC, MB AGEAS Life Insurance Company Limited, ThienPhu Si JSC and Mirae Asset Securities (Vietnam).
Speaking at the ceremony, Nguyen Van Ba, Editor-in-Chief ofVietNamNet said in 2023, Vietnam is entering a new development phase with manychallenges and opportunities. The global economic and political situation hasbeen complicated, posing many challenges for businesses’ development.
However, with political stability and the Government's efforts inpromoting economic reform, Vietnam is one of the bright spots in the region andthe world. GDP in the first quarter of 2023 increased by 3.32% over the sameperiod last year, maintaining an appropriate growth rate in the context of thegeneral difficulties of the world economy when many countries were inrecession.
According to the WB’s forecast, Vietnam’s GDP could reach 6.5% thisyear. The economy has benefited from free trade agreements and attracting FDI.In addition, the Government has been implementing solutions to supportbusinesses and promote domestic production.
The business community plays a huge role in economic growth andsustainable development. In particular, firms with stable growth rates andpillars in key industries make an important contribution to the country’sdevelopment by creating jobs, attracting investment, and contributing to theState budget.
“The annual announcement of FAST500 recognises and honoursbusinesses’ achievements in production and business activities. In addition,this is an opportunity for firms to exchange and seek business opportunities,”he added.
These are firms with good business performance, based on the maincriteria of double revenue growth and social responsibility.
In addition, this year's Top 10 list are all key players inindustries that have many achievements in providing products to customers,showing solid bravery with stable financial capacity, and good resilience inthe face of difficult market context.
According to a survey by Vietnam Report, 81.3% of enterprisesreported still having revenue growth momentum in 2022 and about 70% recordedincreased profits compared to the previous year, of which more than halfachieved profit growth of over 75%.
However, the growth rate of revenue and profit in the period of2021-2022 was lower than that of 2020-2021.
Many representatives in FAST500 believed that the success ofbusinesses is being able to maintain stable operations in a year full offluctuations and unexpected risks.
Despite many concerns about an uncertain future, FAST500businesses keep positive expectations. In particular, the outlook for the worldeconomy would improve in the second half of 2023 when concerns about inflationare cleared and central banks reach the end of the tightening policies.
In addition to the Top 10 fastest-growing companies in Vietnam in2023, the organiser also announced the Top 10 Real Estate Companies and Top 10Building Material Companies.
FAST500, launched in 2011, is based on the compound annual growthrate (CAGR) in terms of revenue and business performance. Other criteria suchas total assets, after-tax profit, and companies’ prestige on the media arealso taken into account to identify their scale and stature in the industriesthey operate in./.
VNA
