On November 12, 2025, Vietnam Report Joint Stock Company, in collaboration with VietNamNet Newspaper, announced the VNR500 Ranking – Top 500 Largest Companies in Vietnam for 2025.
Samsung Electronics Vietnam Thai Nguyen Co., Ltd. continues to hold the top position in the rankings.
Long-standing names such as the Vietnam National Oil and Gas Group (PetroVietnam), Vietnam National Petroleum Group (Petrolimex), Viettel Military Industry and Telecoms Group, Vietnam National Coal and Mineral Industries Group (Vinacomin), Bank for Investment and Development of Vietnam (BIDV), Vietnam Bank for Agriculture and Rural Development (Agribank), and Vietnam Bank for Industry and Trade (VietinBank) remain in the top positions.
Vingroup maintains its 4th position in 2025, unchanged from last year’s rankings.
Hoa Phat returns to the top 10 this year, after being absent last year. Binh Son Refining and Petrochemical JSC did not make it to this year’s rankings, having ranked 9th in 2024.
In the top 10 private enterprises, Vingroup retains its leading position. Hoa Phat, The Gioi Di Dong, VPBank, and Masan Group hold their positions from 2024.
DOJI Gold and Gems Group, THACO, and Sacombank are absent from this year’s rankings.
Techcombank moves up one place to 6th, while Vinamilk climbs to 9th.
The 2025 top 10 private enterprises include two companies led by Nguyen Thi Phuong Thao: Vietjet Air and HDBank.
FPT ranks 8th, after being outside the top 10 last year.
With total revenue rising from VND 4,744 trillion in 2022 to VND 5,565 trillion in 2025, the Industry – Construction sector continues to dominate the VNR500 rankings, accounting for 68% of the total enterprises and serving as the primary driver of economic growth.
The Services sector, after a period of revenue growth last year, saw a slight decline (-1.1%) this year, with total revenue exceeding VND 3,148 trillion. However, the sector’s scale improved, with its share of enterprises rising from 26.3% last year to 27.7% this year. The Agriculture – Forestry – Fisheries sector maintains a low share at 4.3%, with total revenue surpassing VND 345 trillion, up 4.0% year-on-year.
In terms of total revenue by sector in the 2025 VNR500 rankings, the largest sectors remain Finance (VND 1,803 trillion), Mining and Petroleum (VND 1,578 trillion), and Electricity (VND 1,028 trillion).
However, these sectors’ growth rates are relatively low, with a notable decline in Finance (-5.3%) compared to last year, reflecting challenges in the financial market and monetary policy adjustments.
Meanwhile, the fastest-growing sectors include Transportation – Logistics (19.9%), Food, Beverages, and Tobacco (16.2%), and Chemicals (14.8%). Notably, two of these sectors were predicted to grow significantly in the October 2024 survey of the top 3 sectors with the highest growth potential over the next 12 months.
Vietnam Report’s survey also identifies the top 3 sectors with the highest growth potential over the next 12 months from the perspective of VNR500 enterprises: Transportation/Logistics, Construction/Building Materials, and Industry/Manufacturing.
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