More private firms listed in top 500

CA - Although state-run enterprises still dominate the list of the country’s top 500 largest companies this year (accounting for 41 percent), those in the private sector also increased their presence up to 37.5 percent.

PetroVietnam remains to be the country’s largest company this year, according to the VNR500, the list of 500 largest companies annually published by local rating company Vietnam Report JSC and newswire VietNamNet.

At the second post is fuel wholesaler Petrolimex, followed by the Vietnam Posts and Telecommunications Group, Electricity of Vietnam and Saigon Jewelry Co.

The rest of the top 10 sees the presence of Viettel, Vinacomin and Agribank.

VNR500 publishers said that although state-run enterprises still dominate the 2011 list, the private economic sector has steadily increased their presence in the list during the last three years.

In 2008 private companies accounted for only 24 percent of the ranking, but the figures rose to 30 percent and 37.4 percent in 2009 and 2011, respectively.

Businesses of the FDI sector, for their parts, represented 21 percent of the companies in the list.

However, in terms of efficiency, it is the foreign companies that take the first position, with an average return on assets ratio of 9 percent. Meanwhile, the state sector recorded a ratio of only 2.7 percent, and private sector, 2.5 percent.

All of the top 30 largest companies on the list had revenues of more than US$1 billion.

The average revenue was $3.2 billion, up by 15.6 percent compared with last year’s figure.