Vietnam’s 500 most profitable enterprises in 2022 revealed

Prominent in the list are Vietnam Oil and Gas Group (Petrovietnam), Samsung Electronics Thai Nguyen Co. Ltd., Hoa Phat Group JSC, Viettel Military Industry and Telecoms Group (Viettel), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Electricity (EVN), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Military Commercial Joint Stock Bank (MB) and Vietnam Bank for Agriculture and Rural Development (Agribank).

Contrary to concerns about a slowdown of the world’s economy, Vietnam is showing signs of strong recovery with many indicators already exceeding pre-pandemic levels, according to General Director of Vietnam Report Vu Dang Vinh.

It is attributed to solid growth in exports of manufactured and processed industrial products to traditional markets. Total import and export turnover of goods in the first eight months of this year reached 497.64 billion USD, of which, exports increased by 17.3% while imports rose by 13.6%. The recovery of domestic demand, especially for services, also contributed to the growth.

Retail sales of consumer goods and services in August increased by 50.2% over the same period last year, of which sales of goods increased by 1.3 times, up 20% compared to the same period in 2019.

Total retail sales of consumer goods and services in the first eight months of this year were estimated to increase by 19.3% over the same period last year.

The reopening of borders in mid-March 2022 has revived the country’s tourism industry, with 1.4 million foreign arrivals recorded in the eight months, up 12.7 times compared to the same period last year.

A survey of the most profitable enterprises in Vietnam conducted by Vietnam Report in August also recorded a very positive recovery. More than two-thirds of the businesses said their revenue has returned or exceeded pre-pandemic levels.