The Vietnam Report JSC and online newspaper VietNamNet held a ceremony in Hanoi on November 6 to announce the Profit500 2019 list.

Illustrative photo 

The list names the 500 most profitable enterprises in Vietnam.

The Vietnam Oil and Gas Group (PetroVietnam) topped the list. This is the second year that the group has taken the leading position among the top 500 enterprises.

Other firms listed include the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Mobile Telecom Services Corporation (MobiFone), Dat Xanh Group, Vingroup and Quang Ngai Sugar JSC.

Profit500 was created to enhance the prestige and brand of businesses, help them approach new opportunities, attract investors and improve their competitiveness.

Vu Dang Vinh, director general of Vietnam Report, said this year was considered a bright spot of Vietnamese economy with many remarkable achievements such as a promising growth rate of 6.98 percent.

In addition, the consumer confidence index has also improved, he said.

Evaluating the business and investment environment in the first nine months of this year, many businesses at the event agreed reform and innovation efforts have had positive results.

Indicators of macroeconomic management of the Government, capital assessment, tax system and tax administration have all been evaluated highly.

Earlier, Vietnam Report announced the ranking of the 10 most prestigious retail companies this year.

The companies included VinCommerce General Trading Services JSC, Aeon Vietnam Co., Ltd., BigC, Southern Airports Services JSC (Sasco) and Lotte Vietnam Shopping Joint Stock Company.