PetroVietnam, FPT top VNR500

VNStockNews.com - Petro-Vietnam continued to top the list of 10 largest Vietnamese enterprises in the latest VNR500 rankings while FPT Corporation topped the nation’s private sector firms for the third year running.

The ranking, jointly released by online newswire VietnamNet and Viet Nam Report on Wednesday, found that the public sector still dominated the list of top 500 enterprises in the country at 46.4 per cent.

The report also found the private sector flexing its muscles with a strong 30 per cent presence in the VNR500 listing.

Business sectors holding key positions were oil and gas, banking and finance, gold trading, real estate, iron and steel, aquaculture, and telecommunications. The VNR500 rank-ings, in its third edition, evaluates firms on the basis of several factors including turnover, profit, growth rates, owner equity and total assets of the businesses. It is based on data gathered until the end of last year on more than 10,000 businesses nationwide.

Top three

The top three firms in the 2009 VNR500 were the Viet Nam National Oil and Gas Corporation, the Viet Nam National Petroleum Corporation and Electricity of Viet Nam.

The VNR500 listing of the country’s largest businesses is based on the famous Fortune 500 model.

The top ten businesses in the country would make it to the Fortune 1000 list, the report said.