Sun. Apr 14th, 2024

List tracks fastest-growing enterprises

HCM CITY (VNS)— The Viet Nam Report and VietNamNet jointly announced yesterday the FAST 500 Ranking Lists 2012 for the top-500 fastest growing enterprises in Viet Nam.

The FAST 500 was created to honour and award effective and fast-growing companies seen as the rising stars of the Vietnamese economy.

The FAST 500 rankings were built on scientific principles, independence and international standards (based on the models of the Inc 500, Fortune 500 and Deloitte 500). This is the third consecutive year of the FAST 500 in Viet Nam.

This year’s FAST 500 enterprises had an average compound annual growth of 62 per cent in the 2008-2011 period, higher than the rate of 57 per cent last year.

The Top 5 now have had more than 374 per cent growth rate from 2008 to 2011.

Ha Noi and HCM City continued to take the first and second position in the rankings, 25 per cent and 23 per cent, respectively.

This year’s Top 10 are located in Ha Noi, HCM City, Can Tho and the provinces of Hai Duong, Nghe An, Quang Nam, Binh Thuan and Khanh Hoa.

In terms of industry, the real estate sector continued to account for the majority of the fastest-growing businesses compared with the FAST 500 Rankings 2011, followed by the Agriculture and Forestry sector.

However, in terms of average growth, the engineering sector had the highest rate, equivalent to 86 per cent, followed by telecommunications, which has had a growth rate of 72.7 per cent.

Key sectors such as agriculture, engineering and telecommunications accounted for increasingly important positions in the FAST 500.

Sixth, in the framework of research activities to build the FAST 500, the Viet Nam Report has surveyed the business community.

For the first time since early 2011, there were more businesses feeling optimistic than pessimistic.

More than 62 per cent of surveyed companies expect their revenue to increase in 2013 compared to 2012, while less than 15 per cent are afraid that the revenue will decline in 2013.

Similarly, more than half of respondents plan to hire more employees in 2013.

The psychological turning point was the relative stability of the macro-economy in 2012 (regarding inflation, the exchange rate and interest rates).

Despite continued low economic growth and demand, the policy and business environment seems more predictable.

At the same time, many large companies in Viet Nam that have faced financial difficulties in the past two years are making plans for an economic situation that may worsen in the coming years.

The report said that the Government should continue the priorities for macroeconomic stability, economic restructuring and investment efficiency.

The rush towards “rescuing” markets or increasing public investment by loans to stimulate and promote economic growth, with the accompanying risks of macroeconomic instability and inflation, might spoil the rekindled faith of the business community, the report said. — VNS

By vivian