Vingroup sole private company in Vietnam’s 10 largest

By Nguyen Quy   November 27, 2019 | 07:41 pm PT
Vingroup sole private company in Vietnam’s 10 largest
Vingroup's Vincom Center in Ho Chi Minh City. Photo by Shutterstock/Alex W.
Vingroup remains the only private company among the list of 10 largest by revenue in Vietnam in 2019.

It is sixth in the annual rankings of Vietnam’s 500 largest companies done by market research firm Vietnam Report (VNR) and online newspaper VietNamNet. The VNR500 listing is based on the Fortune 500 model, which lists the top U.S. companies in terms of revenues in the previous year.

Vingroup, a conglomerate with the country’s largest real estate operations and interests in retail, healthcare, education, automobile, smartphones and electronics, and run by the country’s first billionaire, Pham Nhat Vuong, reported revenues of VND122.57 trillion ($5.28 billion) last year.

This year revenues in January-September rose 10 percent year-on-year to VND92.74 trillion ($4 billion).

Topping this year’s list is South Korean giant Samsung Electronics Co., also the biggest foreign investor in Vietnam, with revenues of VND1,500 trillion ($64.64 billion).

Vietnam Electricity, the monopoly power distributor, was second with VND338.5 trillion ($14.6 billion).

The sectors that contributed the most revenues to the 500 list are finance (14.6 percent); telecom, computer and IT (9.3 percent); food and drinks (7.9 percent), construction, construction materials and real estate (7.6 percent); transportation and logistics (3.8 percent). Agriculture accounted for only 2 percent.

Last year, Vingroup entered the list of 10 biggest companies by revenue in Vietnam for the first time, coming in sixth in the ranking, and was the only private company in the list.

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