SOEs top largest Vietnam companies list

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State-owned enterprises continued to dominate the annual list of largest companies in Vietnam, the latest of which was announced on Saturday in Ho Chi Minh City.

The top 500 Vietnamese companies in 2010, also known as VNR500, named state oil and gas group PetroVietnam as the winner. It was followed by other major SOEs the National Petroleum Corporation (Petrolimex), Electricity of Vietnam (EVN), the Vietnam Posts and Telecommunications Group (VNPT), and the National Coal Mineral Industries (Vinacomin). 

VNPT and Vinacomin switched places compared to a year ago while the first three positions remained unchanged.

Troubled shipmaker Vinashin, which was ranked 10th in 2009, fell out of the list. Some of its subsidiaries are still in the top 500.

It was the fourth year that the Vietnam Report Joint Stock Company announced the annual rankings, based on the company's database of local businesses. Businesses in the VNR500 have a revenue of at least VND1.2 trillion, according to an official statement.

Besides the VNR500, the company also announced a list of largest private companies in Vietnam. The Saigon Gold and Silver ACB-SJC Joint Stock Company topped this list, followed by IT firm FPT and the Asia Commercial Joint Stock Bank.

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