Fortune has released its annual ranking of the top 500 companies in Southeast Asia for 2025, marking the second consecutive year of the prestigious list’s publication. The ranking is based on financial performance in the 2024 fiscal year.
According to the latest list, the seven countries that were featured in last year’s Southeast Asia 500 ranking—Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia—maintain their presence in 2025.
Indonesia leads the way with 109 companies, followed by Thailand with 100. Malaysia has increased its representation to 92 companies, surpassing Singapore, which has 81. Vietnam also witnessed a boost, with 76 companies making the cut, up from 70 last year. The Philippines secured 40 spots, while Cambodia claimed two.
The top 10 companies alone account for a staggering $660 billion in revenue (36% of the ranking’s total revenue), while the top 20 contribute $836 billion—nearly half of the total revenue generated by all 500 companies.
Notably, Vietnam’s PetroVietnam makes its debut on the list, claiming the 11th spot and leading Vietnamese enterprises in revenue. In 2024, the group surpassed a remarkable milestone, with total revenue exceeding 1 quadrillion VND for the first time, and contributed 165.6 trillion VND to the state budget.
Alongside PetroVietnam, prominent Vietnamese names such as Petrolimex, Vingroup, BIDV, Agribank, VietinBank, Hoa Phat, Vietcombank, The Gioi Di Dong, Vietnam Airlines, VPBank, and MB Bank also feature in the top 100 companies in Southeast Asia. Vingroup, notably, ranks as the top private enterprise in Vietnam and 37th in the Southeast Asia 500, climbing eight spots since last year.
Moreover, FPT Corporation climbed an impressive 25 spots compared to last year, securing the 135th position.
In terms of growth rate, Tasco JSC and Viet Phat stand out among Vietnamese enterprises, boasting revenue increases of 162% and 144%, respectively, and ranking among the fastest-growing companies in Southeast Asia.
The 20 largest Vietnamese companies alone contributed $110.2 billion in revenue, accounting for 68% of the total revenue of all 76 Vietnamese companies featured in the ranking. Vietcombank also made its mark, securing a spot among the top 20 most profitable companies and ranking 19th in market capitalization.
“Petrovietnam Ranks 11th in the 2025 Fortune 500 SEA List of Largest Enterprises in Southeast Asia”
The recently released Fortune Southeast Asia 500 rankings for 2025 have placed the Vietnam National Industrial and Energy Group, better known as Petrovietnam, among the region’s elite. Ranked 11th overall across Southeast Asia, the group stands tall as one of the top 5 energy companies in the region and proudly claims the title of Vietnam’s largest enterprise.
“Petrovietnam’s Wind Power Triumph: Celebrating the 4th Party Congress with 33 Export Towers.”
On June 16, Petrovietnam’s Party Committee organized a ceremony at the PTSC Center for Energy, Industry, and Technical Logistics in Vung Tau City to unveil a plaque commemorating the completion and handover of 33 offshore wind turbine foundations for the CHW2204 project.
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2025 could be a landmark year for the banking industry in terms of record-breaking capital increases.
