List of Vietnam’s 500 fastest-growing firms unveiled
The 2021 list of the 500 fastest-growing companies in Vietnam (FAST500) was released by the Vietnam Report JSC and the VietNamNet e-newspaper on March 10.
Some of the businesses named in this year's FAST500 list (Source: Vietnam Report)
Hanoi (VNA) – The2021 list of the 500 fastest-growing companies in Vietnam (FAST500) wasreleased by the Vietnam Report JSC and the VietNamNet e-newspaper on March 10.
Those named in the rankings,including the An Tien Industries JSC, Quang Ninh Port JSC, Vien Dong Investmentand Trading Development JSC, Sao Mai Group, and Thai Trung Steel Rolling JSC,are described as dynamic businesses and “emerging stars” which have weatheredeconomic difficulties, actively joined in the COVID-19 combat, and helpedadvertise Vietnamese brands to domestic and international enterprises.
FAST500, launched in 2011, isbased on the compound annual growth rate (CAGR) in terms of revenue and businessperformance. Other criteria such as total asset, after-tax profit, andcompanies’ prestige on the media are also taken into account to identify theirscale and stature in the industries they operate in.
General Director of VietnamReport Vu Dang Vinh said the average CAGR of the FAST500 firms reached 28.2percent during 2016-2019.
This period also witnessedthe strong emergence of the private economic sector, which has continued toserve as a driver of the Vietnamese economy, he noted, adding that privatebusinesses also account for the majority of the 500 fastest-growing companies,83.2 percent.
Private enterprises arecontributing about 42 percent of GDP and 30 percent of the State budget whileemploying some 85 percent of the workforce nationwide. Their stable growth andincreasing presence in the FAST500 rankings are also a clear illustration ofthis sector’s development potential in the economy, Vinh added.
A ceremony to officiallyannounce and honour the FAST500 companies are scheduled to take place in Hanoion April 27./.
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Some of the businesses named in this year's FAST500 list (Source: Vietnam Report) 
