The Nikkei Asian Review has named five Vietnamese companies among 300 biggest and fastest-growing firms in Asia this year, with dairy giant Vinamilk cracking the top 10 for the first time.
From the 20th place last year, Vinamilk has climbed to number eight, making it the only Vietnamese business in the top 10.
Vinamilk is Vietnam's largest food processor which is said to account for about half of Vietnam's dairy market, according to the Nikkei Asian Review.
It is expanding rapidly overseas in a bid to boost its annual revenue to $3 billion this year. Last year, it posted a net profit of $412 million, up from 20 percent.
The other four Vietnamese companies in the second edition of the annual Asia 300 Power Performers Ranking are Vietcombank, tech company FPT, PetroVietnam Gas and real estate conglomerate Vingroup.
The Japan-based publication ranked companies from 11 economies across Asia. It analyzed the growth, profitability, efficiency and financial soundness of the companies based on their earnings for the most recent fiscal year.
Taking the lead this year is Taiwanese firm Largan Precision, a maker of lenses for smartphone cameras. It is followed by IT service provider HCL Technologies Ltd. and Zee Entertainment Enterprises Ltd., both from India.