Accordingly, 2023 is the second consecutive year that Viettel Construction has reached the Top 50 "best" growth enterprises in Vietnam. Based on this result, Viettel Construction is also ranked 224/500 fastest growing enterprises in Vietnam.
The ranking of Top 500 Fastest Growing Enterprises in Vietnam (FAST500) has entered the 13th year on the way of finding, recognizing and honoring the worthy achievements of effective enterprises. This assessment report is based on the compound growth rate (CAGR) of revenue and criteria such as total assets, equity, profit before tax and corporate reputation in the media are also used. Used as a supplementary factor to determine the size and position of the enterprise.
The average CAGR of FAST500 enterprises in the period 2018-2021 reached 24.6%; in which, the private sector reached 25.5%, the foreign investment sector (FDI) reached 22.2% and the state sector reached 17.7%. This year, the private sector took the lead in terms of CAGR and posted the largest increase compared to the previous period (+2.3%), reflecting the resilience and strong resilience of the private sector – the main growth engine of Vietnam's economy.
Average CAGR by economic sector of the FAST500 Ranking
According to a recent study by Vietnam Report, 81.3% of enterprises surveyed said that they could still maintain revenue growth momentum in 2022. About 70% of enterprises recorded an increase in profits compared to the previous year. before. However, the growth rate of revenue and profit in the period 2021-2022 is lower than that of the period 2020-2021.
The survey also showed that the proportion of enterprises that recorded an increase in the number of orders in the past year was only 69.6%, a significant decrease compared to the previous year (82.1%); the percentage of businesses reducing the number of orders is also much higher than last year (21.7% vs. 7.1%). Notably, although the number of orders decreased, the rate of staff reduction in the 2021-2022 period is lower than this rate in the 2020-2021 period. This further highlights the continuous efforts of FAST500 businesses to ensure jobs for workers, overcoming the challenging global market period.
Changes in some business indicators of FAST500 enterprises compared to the previous year
According to the FAST500 group of businesses, the biggest difficulties affecting the growth of enterprises in the past year include: Increased input costs (84.4%); Market demand fluctuates (78.1%); Economic and political instability in the world (71.9%); Supply chain disruption (50.0%) and Difficulty in recruiting and retaining personnel (44.8%). The extent of the pandemic's impact has been significantly reduced as the world's economy gradually reopens, bringing with it the challenge of supply chain disruption.
Key industries such as Information Technology, Tourism, Transport... are having good growth potential in the coming time. While the Information Technology industry has been less affected by high interest rates in recent times, with the move to remove the Zero-Covid policy of a major Chinese partner, many businesses believe that Tourism / Hospitality / Entertainment Mind will have a rebound in the next 2-3 years.
Although from mid-2022, the shipping industry "reversed" sharply, freight rates dropped deeply back to the time before the pandemic, nearly 50% of businesses still believe that Transport / Logistics will have a positive signal. pole in the future. On the other hand, Real Estate/Construction and Finance/Banking/Insurance are forecasted to face many challenges.
Industries with good growth potential for at least the next 2-3 years as assessed by enterprises FAST500
In 2022, Viettel Construction recorded an estimated revenue of 9,398.3 billion VND, up 26% over the same period, equivalent to completing 106% of the year plan. Pre-tax profit is estimated at 556.6 billion VND, up 18% compared to 2021, equivalent to completing 108% of the year plan.
Accumulated business results for the first 2 months of 2023, Viettel Construction recorded revenue of 1,562 billion dong and pre-tax profit of 89 billion dong, up 18% and 20% respectively over the same period.