Top 50 Prestigious and Efficient State-Owned Enterprises in Vietnam 2023: Commercial Banks and More

2023-07-10 03:47:00

According to a newly updated report by Vietnam Report in 2023, the Top 50 Prestigious and Efficient State-Owned Enterprises (VIX50 for short), recorded the first appearance of a number of enterprises in aviation, industry, plastics, transport, oil…for their efforts and impressive results obtained during the recent period full of evolutions.

>> List of the ten most prestigious commercial banks in Vietnam

In the 2023 VIX50 list, there are 29 companies with capitalization over $1 billion, 25 companies with revenue over $1 billion, and 43 companies with profit over 1 trillion VND (42 million USD).

PVN is in the Top 50 prestigious and efficient public companies.
Photo : VNA/CVN

The banking sector is still dominant in the VIX50 with 15 representatives, followed by the real estate sector with six representatives; from the construction and building materials group, five representatives; from the transport and logistics group, four representatives; food and chemicals, four each.

According to Vu Dang Vinh, managing director of Vietnam Report, 2023 is considered a pivotal and very important year for the Vietnamese economy. Currently, a few positive developments such as exchange rate control and inflation, rising consumer prices (+3.29%) in the first six months of 2023… create the conditions for that the State Bank lowers interest rates to support the economy. In addition, the recent visit to Vietnam by the South Korean President and a large business delegation has opened opportunities for cooperation and improved FDI flows in the near future. However, these changes are not enough to crush the gloomy atmosphere that dominates the economic picture. The threat of a recession persists in an unstable world.

Vietnam’s GDP growth this year might fall to 6%. The global economy weakened, resulting in lower orders, as production and corporate trading activities continued to contract. According to the General Statistics Office, during the first half of the year, exports decreased by 12.1% compared to the same period in 2022. The total number of newly created companies and companies resuming their activities reached 113,600 companies, down 2.9% year on year.

The pressure of a possible recession is being felt and almost all companies will face challenges in increasing revenues and risks in reducing margins this year. Being cautious in the face of all market fluctuations has become a popular choice for businesses, Vu Dang Vinh said.

However, within any crisis, at the most difficult times, new ideas and opportunities can also arise, he noted, adding that companies have the right to choose how to transform their business activities appropriately. . In fact, with proper planning, resource allocation and strategy development, companies can not only survive turbulent times, but also have the potential to gain market share as the economy is recovering. An economic downturn becomes a great opportunity for businesses to rethink their strategy, build their relationships, invest in their brand, and dramatically increase their market share.

In difficult times like the present, companies must both be careful in managing risk and actively seek out opportunities.

VNA/CVN

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