The top 500 profitable businesses (Profit500) and the 10 most prestigious firms in the food, beverage, retail, and packaging sectors in Viet Nam in 2020 were recently announced at a ceremony in Ha Noi.

Illustrative image (Photo: VNA)

The Viet Nam Oil and Gas Group (PetroVietnam) topped the Profit500 list, which was compiled by the Viet Nam Report JSC and online newspaper VietNamNet under the Ministry of Information and Communications.

It was followed by the Samsung Electronics Thai Nguyen Co. Ltd, the Military Industry and Telecom Group (Viettel), the Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank), Honda Viet Nam, the Vingroup JSC, the PetroViet Nam Gas Joint Stock Corporation, the Viet Nam Bank for Agriculture and Rural Development (Agribank), the Viet Nam Technological and Commercial Joint Stock Bank (Techcombank), and the Viet Nam Dairy Products JSC (Vinamilk).

Those winning a reputation award in the food industry included Vinamilk, the CP Viet Nam Livestock JSC, the Masan Group, the VISSAN JSC, the FrieslandCampina Viet Nam JSC, and the Mondelez Kinh Do Viet Nam JSC.

Pham Anh Tuan, a representative from VietNamNet, said this year was the first time a global economic crisis has been triggered by a pandemic and the term “new normal” introduced when it comes to socio-economic recovery efforts and the resumption of businesses’ operations.

In that context, “profit” alone is not enough for enterprises, it must be “sustainable profit” based on internal strengths, adaptability to the market, and brand reputation, Tuan said.

Enterprises honoured are those with efficient and sustainable production and business activities, as well as high profitability amid a number of challenges caused by the pandemic-triggered crisis, Tuan said, adding that they also possess a firm foothold in their industries and are capable of becoming pillars of Vietnam’s future economic development.

Source: VNA