Announcement Ceremony of Top 500 fastest growing enterprises in Vietnam

On April 24, in Hanoi, Vietnam Assessment Report Joint Stock Company (Vietnam Report) coordinated with VietNamNet Newspaper to organize the Announcement Ceremony of Top 500 Fastest Growing Enterprises in Vietnam (FAST500), Top 10 and Top 5 Real Estate-Construction-Building Materials Companies in 2024.

The event aims to recognize and honor the outstanding achievements and significant efforts of the Vietnamese business community during the recent tumultuous period, while creating motivation for development for the new period.

Specifically, the Top 10 of the FAST500 Ranking includes names such as Binh Thuan Plastic Group Joint Stock Company, HD Securities Joint Stock Company, Tien Phong Securities Joint Stock Company, and Technology Joint Stock Company. Imedia Services, SOL E&C Construction Investment Joint Stock Company, Vitadairy Vietnam Dairy Joint Stock Company, Taseco Real Estate Investment Joint Stock Company, Stellapharm Joint Venture Company Limited, Solution Joint Stock Company CNC Technology Solutions and Bee Logistics Joint Stock Company.

This is the 14th consecutive year that the FAST500 list has been published to find, recognize and honor businesses that are growing strongly in the Vietnamese economy – businesses with good business performance, based on the following criteria: The main goal is compound revenue growth and social responsibility.

Besides, appearing in the list of Top 10 and Top 5 this year are all pillar businesses in the construction and real estate industry that have also achieved many achievements in providing products to customers, creating Impressive image in the eyes of the public and investors, demonstrating strong character with stable financial capacity and good resilience when facing difficult market contexts.

Mr. Vu Dang Vinh, General Director of Vietnam Report, commented that in the face of “headwinds,” in recent times, the production and business situation of Vietnamese enterprises has been somewhat gloomy due to the decline. of aggregate demand both domestically and globally.

Vietnam Report’s survey results show that up to 51.7% of FAST500 businesses said they did not complete their revenue plans, while 46.7% of businesses did not reach the set profit level in 2023.

On the contrary, the rate of businesses completing and exceeding plans in both targets is lower than in the 2021-2022 period. Notably, the proportion of businesses with declining revenue and profits increased nearly two and a half times over the same period.

Meanwhile, going through 2023 with many ups and downs, although there are still many difficulties, the real estate-construction-building materials market is gradually improving.

Vietnam Report’s real estate business survey showed that last year, the three biggest drivers contributing to business results were the company’s reputation and brand in the market; A team of professional, experienced, highly disciplined personnel who review, reduce and use costs effectively.

Growth prospects in each segment are also differentiated: segments that serve industrial development needs, real housing needs, and are suitable for people’s financial conditions will recover first; The housing, luxury apartment, and resort real estate segments will recover more slowly.

Assessing the growth prospects of businesses, General Director of Vietnam Report said that the situation is unlikely to change overnight, but 2024 is expected to be a “buffer zone” for the market to gradually restore confidence. believe, businesses gradually conquer challenges, the driving forces for recovery become clearer and opportunities are recreated; which emphasizes the role of the Government and the flexible adaptability of businesses themselves.

According to businesses, in 2024, economic growth will mainly rely on the “four-horse carriage” that will promote innovation, complete the legal corridor, and ensure institutional uniformity and legal environment for economic development; stimulate consumption demand in the domestic market; Increase public investment – quickly and effectively implement public investment capital, create spillovers to non-state investment and promote export of goods and services.

Within the framework of the Announcement Ceremony, Vietnam Report researched and published the bilingual report Vietnam Economic Growth in 2024 with the theme “Rebuilding competitiveness to seek growth opportunities.”

In addition to assessments of the prospects of the macro economy and businesses this year, the report updates on challenges, driving forces of growth and promising industries in the coming time.

In addition, the report also clarifies the trends and roles of different levers for businesses in the process of planning appropriate strategies, reaffirming their position in the market, as well as transforming quickly, ready to ready to rebuild a new growth trajectory./.