Up to 83.3 percent of FAST500 firms optimistic about 2022 outlook
Some 83.3 percent of the 500 fastest-growing companies in Vietnam (FAST500) are optimistic about the outlook and growth opportunities of the domestic market this year, given that the economy is on course to recover to the pre-pandemic level, according a recent survey conducted by Vietnam Report.
Hanoi (VNA) – Some 83.3 percent of the 500fastest-growing companies in Vietnam (FAST500) are optimistic about the outlookand growth opportunities of the domestic market this year, given that theeconomy is on course to recover to the pre-pandemic level, according a recentsurvey conducted by Vietnam Report.
Some 89.2 percent of them are planning to expand business while 86.5 percentsaid they have contingents of highly-qualified, experienced and disciplined personnel,the survey shows.
About 67.6 percent of the survey companies are confident about their competitive edgeas they boast good relations with partners and customers, and high-quality andcompetitive-priced products.
Around 62.2 percent show changes in their awareness of the strongwave of digital transformation in all areas, and that they must have clearvisions and business strategies to catch up with the market trends.
FAST500 firms give priority to six strategies to deal withgrowth challenges. About 91.9 percent of them plan to ramp up personnel training, 83.8percent will focus more on sales promotion, 67.6 percent want to acceleratedigital transformation, 56.8 percent are committed to ensuring employment,wages and benefits of their workers, 48.6 percent aim to strengthen their riskmanagement system, and 37.8 percent plan to step up cooperation and investmentin the near future.
The survey also reveals that FAST500 expects this year, thegovernment will continue stabilising the macro-economy, keeping inflation undercontrol, expanding trade promotion, launching more support packages andaccelerating public administrative reforms, so as to facilitate theirbusiness activities.
They also hope that government will build a better businessenvironment and help unleash more potential resources to provide momentum forsustainable growth.
FAST500 was announced last week based on independentresearch and assessment of Vietnam Report JSC. It complies with internationalstandards and was drawn up in consultation with domestic and foreign experts.
The FAST 500 rankings are also based on internationalstandards, including the models of the Inc 500, Fortune 500 and Deloitte 500.
The performance of the companies was calculated by the CAGRon revenue and also based on criteria such as total assets, the number ofworkers, after-tax profits and prestige in the media.
This year, Hung Thinh Land JSC, MB AGEAS Life InsuranceCompany Limited and Tin Viet Finance JSC topped the list./.
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.
Hung Thinh Land JSC, MB AGEAS Life Insurance Company Limited and Tin Viet Finance 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 9.
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Illustrative photo. (Source: VNA)
