The Profit500 list featuring the top 500 most profitable enterprises in Viet Nam this year was announced in Ha Noi on Tuesday at an event co-organised by Vietnam Report JSC and e-newspaper VietNamNet.

Prominent in the list are Viet Nam 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 Viet Nam (Vietcombank), Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Electricity (EVN), Viet Nam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Military Commercial Joint Stock Bank (MB) and Viet Nam Bank for Agriculture and Rural Development (Agribank).

As the only Asian country with a significant GDP growth forecast by the International Monetary Organisation (IMF) in 2022, Viet Nam is a rare bright spot in the gloomy global economic picture, having a strong recovery since the fourth wave of the COVID-19 pandemic. This recovery was achieved mainly by solid growth in exports of manufactured and processed industrial products to traditional export markets; strong recovery of domestic demand, especially for services; and the revival of the tourism industry.

Despite many challenges, Viet Nam's macroeconomic context also has certain advantages from relatively stable inflation control and appropriate policy support packages. The businesses’ flexible and timely adaptation strategies have also partly relieved the pressure of increasing input prices, ensuring the set production and business plans, and opening the way for outstanding profit growth in the future.

According to recent statistics from Vietnam Report, more than 75 per cent of businesses participating in the survey have revenue equal to or exceeding the level before the pandemic broke out.

With the aim of recognising the achievements and contributions of enterprises, and at the same time helping improve competitiveness and corporate image to partners, investors and consumers, the Profit500 honoured business representatives who not only demonstrate superiority in financial and communication strength, but also demonstrate growth potential, level of sustainable development, quality of management and position in the market. They have contributed significantly to the development and prosperity of the country's economy. — VNS