Vietnam Report announces list of 500 largest enterprises. (Source: newtecons)

The ranking, now in its 18th year, offers a comprehensive look at the powerhouses driving the nation's economy and introduces Vietnamese brands to the global business community.

Topping the list are industrial giants and state-owned enterprises, with Samsung Electronics Thai Nguyen Co. Ltd. taking the first spot. It is followed closely by the Vietnam Oil and Gas Group (Petrovietnam), the Vietnam National Petroleum Group (Petrolimex), and the Vingroup JSC.

Other notable names include the Vietnam Bank for Agriculture and Rural Development (Agribank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Viettel Military Industry and Telecoms Group (Viettel), Binh Son Refining and Petrochemical JSC, and Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin).

The private sector also made a significant impact, with the top 10 private firms naming the Hoa Phat Group JSC, Vingroup JSC, Mobile World Investment Corporation, Masan Group, Doji Gold & Gems Group JSC, Vietnam Prosperity Joint Stock Commercial Bank (VPBank), Vietnam Dairy Products JSC (Vinamilk), Truong Hai Group, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), and Vietnam Technological and Commercial Joint Stock Bank (Techcombank).

Vu Dang Vinh, CEO of Vietnam Report, highlighted key trends from the 2024 list, noting that while industry and construction remain vital economic drivers, there was a slight 0.7% decrease in total revenue across these sectors. In contrast, the service and financial sectors experienced impressive annual growth rates of 13.7% and 23.1%, respectively. However, the agro-forestry-fisheries sector faced challenges, suffering a 7.8% drop in total revenue due to a lack of new orders in 2023.