Private sector posts impressive growth

The private sector has made up 78 percent of 500 enterprises rated as fastest growing (FAST-500), in a list announced by the Vietnam Joint Stock Rating Report Company (VNR) on March 30.

Phung Hoang Co, Vice President of the VNR Managerial Board, said those in the FAST-500 recorded an average growth rate of 54 percent from 2006-09. Businesses in the Top 50 and Top 100 gained marvelous growth rates of 160 and 112 percent, respectively.

The rating was conducted on database provided by 200,000 growing enterprises, 500 enterprises with the largest investment in the 2007-10 period and 1,000 others with the highest corporate income tax payments.

The processing, manufacturing and production sectors contributed the largest component to the list (41.8 percent), followed by construction (16.6 percent).

Nguyen Kim Commercial Company takes leading with its growth rate of 675.3 percent.

The rating was also based on the enterprise’s property, profit making and the number of employees, with an independent evaluation in line with international standards to ensure the highest possible objective judgment. – VOV

Tags: Vietnam Private sector