Hoa Phat jumps 5 places in Top 500 largest companies in Viet Nam 2017

Viet Nam Report in co-operation with VietNamNet newspaper on December 5^th 2017 announced the list of Top 500 largest companies in Viet Nam 2017 – VNR500. Accordingly, Hoa Phat Group jumped 5 places int he ranking over 2016 and listed in the Top 30 largest firms this year for the first time. The group also maintained its position in the Top 10 largest private companies.

VNR500 ranking aims to honour and recognise outstanding business results of big firms in Viet Nam in financial year 2016. This has been the 10 consecutive year Hoa Phat was listed in the top largest companies based on criteria of scale, profit, contribution to the State budget and best growth rate in 2012-16 period. In 2016, Hoa Phat reached the highest growth rate so far in terms of revenue and profit with VND33.9 trillion and VND6.6 trillion respectively. These figures rose by 34 per cent and 89 per cent from the previous year respectively. The group was in the Top 30 businesses which have biggest contribution to the State budget with VND3.4 trillion and creating jobs to more than 14,000 labourers nationwide.

Hoa Phat in the Top 10 largest companies in Viet Nam 2017 (Source: www.vnr500.com.vn)

In addition to parent company, Hoa Phat Furniture Joint Stock Company was also listed in the ranking with the 284^th position.

This has been the 11^th year the VNR500 was announced to honour businesses with largest scale in Viet Nam and having remarkable achievements in their production and business.

VNR500 is an independent research of Viet Nam Report which was built based on Fortune 500 model and verified with business data. Criteria for Viet Nam Report to choose private firms are big private capital ownership more than 51 per cent.

The award ceremony of VNR500 will be organised on January 19^th 2018 at Grand Plaza Hotel, Ha Noi.

                                                                                                    Nghi Tran