Private sector dominates fastest-growing firm list

Tuesday, 2014-02-18 17:35:04
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Nhan Dan Online – Two thirds of the 500 fastest-growing companies in Vietnam are private firms, according to the FAST 500 report released by consultancy firm Vietnam Report.

FAST 500 lists the 500 quickest-growing firms in Vietnam in terms of revenue growth during the 2009-2012 period.

Other factors such as total assets, number of employees and profit after tax were also taken into consideration.

Vietnam Report said private firms make up more than 65% of the list with their average growth rate significantly higher than that of State-owned and foreign-invested companies.

According to FAST 500, the three fastest growing firms are Intimex Nha Trang, CNG Vietnam and Phan Minh Company.

The report noted that the revenue growth rate of the ten fastest-growing companies averaged at 129.5% in 2013.

A breakdown of sectors shows companies in the food and beverage sector posted the strongest growth at 18%, followed by construction and mining with average growth rates of 16% and 9% respectively.

According to Vietnam Report, many Vietnamese enterprises expect 2014 will see an end to difficulties with a new phase of growth.

Nearly 88% of surveyed companies stated that their business performance is forecast to be better than or stay the same as in 2013.