CafeF, a prominent Vietnamese platform, has unveiled its CafeF Lists comprising two distinct lists, PRIVATE 100 and VNTAX 200, to honor and recognize the significant contributions of businesses to the country’s economic development and social welfare.
The VNTAX 200 list showcases enterprises that have made substantial financial contributions to the state budget, with an annual financial contribution of 200 billion VND or more, encompassing state-owned, private, FDI, and joint-venture enterprises. On the other hand, the PRIVATE 100 list exclusively highlights the achievements of private enterprises with budget contributions of 100 billion VND and above.
Together, these enterprises have contributed hundreds of thousands of billions of VND, making this recognition the only comprehensive listing that reflects the extent of corporate contributions across all sectors of the economy.
Familiar names such as PVN, Viettel, and Vingroup top the list of the largest budget contributors for 2024, with impressive contributions of several tens of thousands of billions of VND each year.
The key to their success lies in their exceptional business performance and profitability, which not only enhances their standing as leading budget contributors but also makes their financial results a subject of great interest.
According to CafeF’s statistics for 2024, nine enterprises formed an exclusive club of billion-dollar profit-makers, each achieving a pre-tax profit of 25,000 billion VND or more. This illustrious group includes PetroVietnam, Viettel, Vinhomes, and six banks.
For several years, the Vietnam National Oil and Gas Group (PetroVietnam) has consistently maintained its position as the country’s most profitable enterprise. However, after peaking at 76,000 billion VND in 2022, PetroVietnam’s profits declined for two consecutive years, falling to 46,000 billion VND in 2024. In contrast, the Vietnam Military Industrial and Telecom Group (Viettel) has experienced robust growth, with profits surging to 54,000 billion VND, claiming the top spot.
Both Viettel and the six banks in this elite group achieved their highest profits ever in 2024.
Viettel’s consolidated pre-tax profit grew by 17% to 54,337 billion VND in 2024, surpassing the 50,000 billion VND mark for the first time. This milestone also marks the first instance of a technology and telecommunications company claiming the title of Vietnam’s most profitable enterprise.
Among the banks, Vietcombank maintained its impressive performance, with profits exceeding 40,000 billion VND for the second year. The other banks in the group reported profits ranging from 28,000 to 32,000 billion VND.
Amid a saturated telecommunications market, Viettel’s success is a testament to its strategic vision. By diversifying its business beyond traditional telecommunications, Viettel has established itself as a leading provider of digital products and services.
In 2024, Viettel’s information technology solutions business grew by 38%, contributing 40% to the group’s total revenue and solidifying its leadership in Vietnam’s investment landscape. Additionally, Viettel has expanded its overseas business portfolio to include e-wallet services with nearly 33 million subscribers, logistics services in Laos, Cambodia, and Myanmar, and cybersecurity solutions in 11 countries.
Viettel Global, a subsidiary of Viettel, played a significant role in the group’s overall growth, with its profits surging from 3,900 billion to 10,700 billion VND in 2024.
Viettel’s ascent to the top spot is not just a triumph for the group but also a positive indicator of Vietnam’s economic transformation, signaling a shift towards a technology-driven, innovation-centric economy.
The success of these enterprises lays a solid foundation for Vietnam to propel economic growth, achieve strategic goals, and embark on a journey towards becoming a high-income developed nation by 2045.
What Honor Was Bestowed Upon the Vietnamese Company With a Near $2 Billion Profit, After Meeting the Prime Minister?
This is a renowned enterprise and a stalwart of the Vietnamese economy.
The Unprecedented Female Engineer: Viettel’s Irreplaceable Woman
“Ms. Le Thi Hang joined Viettel and became the sole female engineer at the Viettel Network Technology Research Center. Her journey began as she embarked on a path less traveled by women in the industry. With her talent and tenacity, she carved a place for herself in a male-dominated field.”
Unveiling Vietnam’s Top 200 Tax-Contributing Enterprises: A Colossal Collective Contribution of 794 Trillion VND, with Vingroup Closing in on PetroVietnam’s Top Spot
There are 17 businesses that have submitted budgets of over 10 trillion VND in the VNTAX 200 for 2025.
Revealing the Top 10 Steel and Construction Material Companies with the Highest Tax Contributions in Vietnam
The combined revenue of the top 10 enterprises in this year’s list exceeded VND 21,000 billion, a significant increase of nearly VND 6,400 billion, or 43%, compared to last year’s figures.
The Top 10 Private Food and Beverage Companies Contributing to Vietnam’s Economy
The top 5 businesses contributed over 1,000 billion, with the leading 2 ‘powerhouses’ accounting for more than 50% of the total contributions from the list.
