The ranking is based on revenue for the 2024 fiscal year, and Fortune’s focus on Southeast Asia reflects the region’s growing importance as a sustainable driver of the global economy, especially as it emerges as an alternative manufacturing destination to China amid escalating trade and tariff tensions.
All seven countries that featured in the Southeast Asia 500 ranking last year – Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia – continue to make their mark on the regional economy and are represented again in 2025.
Among the 76 Vietnamese companies featured in this ranking, GELEX stands out, ranking 32nd out of 76. GELEX has demonstrated impressive growth and a consistent development strategy, contributing to the collective effort of Vietnamese businesses in shaping the country’s economic position in the region.
Fortune Southeast Asia 500 Rankings for 2025
Moving up from 231st place in 2024 to 217th in 2025, GELEX showcases its robust and sustainable growth amidst intensifying regional competition. This achievement also underscores the enterprise’s pioneering efforts in the context of a restructuring global economy. Being recognized in the ranking for two consecutive years also demonstrates GELEX’s perseverance and aspiration to expand its regional influence.
According to Clay Chandler, Fortune’s Asia Editor, the publication’s special attention to this region underscores the increasing significance of Southeast Asia as a driver of global growth. “The region is emerging as a key manufacturing and export hub, attracting significant investment, partly due to shifts in tariff policies since the Trump presidency, which reshaped global trade,” Chandler emphasized.
Amid global macroeconomic fluctuations and their impact on Vietnam, GELEX has proactively embraced new trends with a focused and flexible strategy in key investment areas: electrical equipment manufacturing and infrastructure – sectors that play a vital role in the new global value chain.
Currently, GELEX has ramped up investments in large-scale industrial parks, renewable energy projects, and clean water initiatives, while also perfecting its green production chain, ranging from electrical equipment (CADIVI, THIBIDI) to building materials (Viglacera).
In 2024, GELEX recorded consolidated net revenue of VND 33,752 billion and pre-tax profit of VND 3,613 billion, increasing by 12.5% and 158.6%, respectively, compared to 2023. These results surpassed the targets approved by the General Meeting of Shareholders, with a 4.5% increase in revenue and an 88.1% surge in profit. This performance reflects an efficient business ecosystem with resilience and scalability amid volatile global conditions.
In the first quarter of 2025, GELEX’s consolidated net revenue reached VND 7,916 billion, a rise of 18.9% year-on-year. The company’s consolidated pre-tax profit hit VND 646 billion, marking a significant increase of 67.8% compared to the same period last year. GELEX effectively managed financial, corporate management, and sales expenses during the quarter, contributing to enhanced business efficiency.
The Group is also committed to integrating ESG (Environmental, Social, and Governance) frameworks into all its operations, shaping a modern and responsible enterprise ready to embrace green investments from developed markets.
Being listed in the Fortune Southeast Asia 500 is not just a milestone but also a motivator for GELEX to pursue its globalization goals.
GELEX’s inclusion alongside 75 other prominent Vietnamese businesses, such as PetroVietnam, Petrolimex, Vingroup, Vietinbank, and Vietnam Airlines, underscores the growing strength of Vietnamese enterprises in the country’s economic development and their contribution to establishing Vietnam as an indispensable link in the global value chain.
The Fortune Southeast Asia 500 is an annual ranking by Fortune Magazine (USA) that recognizes the top 500 largest companies in Southeast Asia based on revenue. Now in its second year, the 2025 ranking continues to showcase the region’s dynamic economy and increasing competitiveness.
The ranking features companies from seven Southeast Asian countries: Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
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to be:
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