500 fastest-growing companies in 2023 announced

Tin Viet Finance JSC, Dolphin Sea Air Services Corporation and VPS Securities JSC are among the top 10 in the 500 fastest-growing companies in Vietnam (FAST500) this year as announced by the Vietnam Report JSC and the VietNamNet e-newspaper on March 16.

500 fastest-growing companies in 2023 announced hinh anh 1

500 fastest-growing companies in 2023 announced. (Photo: Vietnam Report)

Tin Viet Finance JSC, Dolphin Sea Air Services Corporation and VPS Securities JSC are among the top 10 in the 500 fastest-growing companies in Vietnam (FAST500) this year as announced by the Vietnam Report JSC and the VietNamNet e-newspaper on March 16.

The others in the top 10 included Vantage Logistics Corporation, Bee Logistics Corporation, Super Cargo Service Company Limited, Deo Ca Traffic Infrastructure Investment JSC, MB AGEAS Life Insurance Company Limited, Thien Phu Si JSC and Mirae Asset Securities (Vietnam).

According to a survey by Vietnam Report, the compound annual revenue growth rate (CAGR) of the FAST500 has improved significantly as compared with the 2017-2023 period.

Notably, the private sector took the lead in terms of the CAGR this year with a growth rate of 2.3%, reflecting the strong recovery of the sector – the main engine of the national economy.

Up to 81.3% of the questioned firms said they maintained their revenue growth in 2022, and some 70% experienced increases in profits from the previous year, of which more than half recorded growth of over 75%.

However, only 69.6% of the enterprises recorded hikes in the number of orders, a drop from the previous year’s 82.1%.

Despite the reduction, the layoff rate in the 2021-2022 period was lower than that in 2020-2021.

According to Vietnam Report General Director Vu Dang Vinh, 62.5% of the businesses said they will expand their operations and 37.5% want to maintain their business scale.

FAST500, launched in 2011, is based on the compound annual growth rate (CAGR) in terms of revenue and business performance. Other criteria such as total asset, after-tax profit, and companies’ prestige on the media are also taken into account to identify their scale and stature in the industries they operate in./.

en.vietnamplus.vn

Related News

Listed companies expected to recover in second half of 2023

Listed companies expected to recover in second half of 2023

The profits of listed companies are expected to recover in the second half of the year after performing poorly in the first quarter, buoyed by the recent supportive policies from the Government, said analysts at securities firms.
Top 10 Vietnamese construction material companies announced

Top 10 Vietnamese construction material companies announced

The Vietnam Report JSC on March 24 announced top 10 construction material companies of Vietnam in 2023.
Securities companies set different targets for 2023

Securities companies set different targets for 2023

Although 2023 is forecast to be a difficult year, many securities companies still set a target of positive profit growth in 2023, besides some others adopting more prudent plans.
Companies’ profit growth may cool down but market sees potential

Companies’ profit growth may cool down but market sees potential

The profit growth of listed companies is forecast to cool down in 2023 but experts said there are still many positive factors to support the market in the near future.

Latest News

Footwear exports see promising signals

Footwear exports see promising signals

With orders secured for the second quarter, activities are in full swing in many leather and footwear production plants, bringing about the hope for a year of buoyant exports.
Spending over US$11 billion to import one group of commodities in less than two months

Spending over US$11 billion to import one group of commodities in less than two months

VCN - By the end of February, Vietnam had spent US$11.34 billion to import computers, electronic products and components.
Big opportunities for rice exports in 2024

Big opportunities for rice exports in 2024

Positive prospects are forecast for Vietnam’s rice export in 2024, with bright signs in both market and price.
Vietnam-Australia trade ties expected to grow further

Vietnam-Australia trade ties expected to grow further

Vietnamese Prime Minister Pham Minh Chinh’s official visit to Australia is expected to create new momentum for the bilateral relations, including their trade ties.

More News

Many opportunities to develop the semiconductor industry in the Southeast region

Many opportunities to develop the semiconductor industry in the Southeast region

VCN - According to foreign investors, Vietnam is a particularly attractive market for the cooperation and development of the semiconductor industry. In particular, the Southeast region of Vietnam has a lot of potential to develop the semiconductor chip industry.
Many real estate businesses face difficulties of cash flow

Many real estate businesses face difficulties of cash flow

VCN - Although many policies to overcome difficulties have been put forward by the Government, ministries and branches but many real estate businesses face the situation of being "thirsty for money". Finding solutions to unlock capital sources for the real estate market to promote recovery and development is essential.
Deep processing increases agricultural product export value: experts

Deep processing increases agricultural product export value: experts

The current proportion of processed pepper products for export stands at a mere 30%, indicating the need for a significant improvement.
Shipping companies are currently charging about ten types of surcharges for goods at seaports

Shipping companies are currently charging about ten types of surcharges for goods at seaports

VCN - The Vietnam Ship Agents, Brokers, and Maritime Services Providers Association (Visaba) has recently expressed concerns that a series of fees and surcharges are unilaterally determined by foreign shipping lines without agreement with customers.
Enterprises expect to "take off" in 2024

Enterprises expect to "take off" in 2024

VCN - After a period of sluggish business, even continuous decline, many companies have seen optimistic signals in 2024 and have outlined bold plans to quickly return to a growth trajectory.
Electronic products are the driving force for export growth

Electronic products are the driving force for export growth

VCN - The export growth momentum in early 2024 is assessed to have a major contribution from all types of phones and components.
Answering many questions for Korean businesses at 2024 tax and customs policy dialogue conference

Answering many questions for Korean businesses at 2024 tax and customs policy dialogue conference

VCN - At the Dialogue Conference with Korean businesses on tax and customs policies and administrative procedures in 2023-2024 organized by the Ministry of Finance on the afternoon of February 29, representatives of leaders of units under the Ministry Finance, General Department of Taxation, and General Department of Customs directly answered in detail questions of Korean businesses related to the field of tax and customs.
Reconfigure the global cashew supply chain to prevent disruptions

Reconfigure the global cashew supply chain to prevent disruptions

VCN - On February 27th, the 13th Vietnam International Cashew Conference officially opened in Dong Hoi City, Quang Binh Province. This event was part of Vietnam's National trade promotion program, organized in collaboration with the Vietnam Cashew Association (VINACAS) and the Ministry of Industry and Trade of Vietnam.
Durian emerging as "golden fruit" among Vietnam"s exports

Durian emerging as "golden fruit" among Vietnam"s exports

Vietnam is striving to further assert its durian export position and join the billion-dollar export industry with the current advantages in hand, coupled with efforts to better the fruit quality. The country is working hard to tap the potential and expand global reach for the sector.
Read More

Your care

Latest Most read
Footwear exports see promising signals

Footwear exports see promising signals

With orders secured for the second quarter, activities are in full swing in many leather and footwear production plants, bringing about the hope for a year of buoyant exports.
Spending over US$11 billion to import one group of commodities in less than two months

Spending over US$11 billion to import one group of commodities in less than two months

By the end of February, Vietnam had spent US$11.34 billion to import computers, electronic products and components.
Big opportunities for rice exports in 2024

Big opportunities for rice exports in 2024

Positive prospects are forecast for Vietnam’s rice export in 2024, with bright signs in both market and price.
Vietnam-Australia trade ties expected to grow further

Vietnam-Australia trade ties expected to grow further

Vietnamese Prime Minister Pham Minh Chinh’s official visit to Australia is expected to create new momentum for the bilateral relations, including their trade ties.
Many opportunities to develop the semiconductor industry in the Southeast region

Many opportunities to develop the semiconductor industry in the Southeast region

According to foreign investors, Vietnam is a particularly attractive market for the cooperation and development of the semiconductor industry.
Mobile Version