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Top 10 largest companies in Vietnam 2020

Top 10 largest companies in Vietnam 2020

Monday 10, 05 2021
The list of top 10 largest companies in Vietnam 2020 is made by VietnamCredit based on financial information, business performance and popularity of the companies in the market.

Topping the list is Samsung Vietnam, which is followed by Vietnam Electricity, LG Vietnam, Vingroup ... The companies on this list are major drivers of the Vietnamese economy and have created millions of jobs for Vietnamese people.

Top 10 Companies

Data source: VietnamCredit

1. Samsung Vietnam

The total revenue in 2020 of the four Samsung factories in Vietnam are estimated at 67 billion USD, decreasing by 4% compared to 2019. This is the second consecutive year that the total revenue of these 4 factories has witnessed a slight decrease.

Among the four factories, Samsung Electronics Vietnam Thainguyen (SEVT) recorded the highest revenue, which reached 24 billion USD, down 15%.

The two factories Samsung Electronics Vietnam (SEV) and Samsung Display Vietnam (SDV) closely followed each other in terms of revenue (16.9 billion USD and 16.3 billion USD, respectively). Samsung Electronics HCMC CE Complex (SEHC) also recorded a revenue of 5.3 billion USD, up 25.3%.

Samsung Vietnam

2. SOUTHERN POWER CORPORATION

Ranked second in the list of companies with the largest revenue in Vietnam 2020 is the Southern Power Corporation (under the Vietnam Electricity Corporation) with revenue of 5.7 billion USD, up 3% compared to 2019.

In 2020, Vietnam Electricity (EVN) made a lot of achievements in business activities, constantly applying technology, and improving utility for customers.

Currently, Vietnam's electricity industry is approaching the world advanced level in science, technology and management science including adopting gas turbine technology (which is an advanced power generation technology), building 500kV lines and stations, building high-tech coal-fired power plants, meeting environmental protection requirements, etc.

SOUTHERN POWER CORPORATION

3. LG ELECTRONICS VIETNAM HAI PHONG CO., LTD

LG Electronics achieved good business results in 2020 in part thanks to social distacing caused by the COVID-19 pandemic that boosted sales of home appliances, high-end TVs and IT equipment.

LG Electronics Vietnam Hai Phong's revenue in 2020 reached 5 billion USD, up 35% compared to 2019. However, its income still decreased due to the company's unprofitable business operation, which has already in the red since Q2 2015.

LG ELECTRONICS VIETNAM HAI PHONG

4. VINGROUP

Vingroup’s 2020 consolidated revenue reached approximately 4.8 billion USD, which decreased by nearly 15% from the previous year. The main reason behind this was that revenue from the retail segment was not recorded due to the Covid-19 epidemic. In 2019, this segment contributed 1.3 billion USD.

Also due to the absence of retail, the proportion of real estate sales over total revenue returned to 65% after falling to 49% in 2019. Two other business activities of this group related to real estate - Vincom Retail's and Vinpearl hotel and entertainment -  both witnessed a decrease in revenue because they were directly affected by the Covid-19 pandemic.

VINGROUP

5. DOJI GOLD & GEMS GROUP JOINT STOCK COMPANY

DOJI is one of the largest private groups in Vietnam, operating mainly in gold, silver and gemstones business.

Its revenue has continuously increased over the years. In 2019, DOJI's revenue increased 8 times compared to 2009, 2.3 times compared to 2015, and nearly doubled compared to the previous 2 years (2017). Although the Covid-19 pandemic had a heavy impact on the gold jewelry market, in the first 9 months of 2020, the company’s revenue still reached 2.9 billion USD. By the end of 2020, Doji's revenue reached 4.3 billion USD, an increase of 13% compared to 2019.

DOJI GOLD & GEMS GROUP JOINT STOCK COMPANY

6. VIETTEL

According to the data from its financial statements, the revenue in 2020 of Viettel reached 4.1 billion USD, down 2% compared to 2019.

In Vietnam, Viettel is the largest fixed-line broadband service provider with 41.8% market share. Viettel's mobile service also maintains its leading position with 54.2% market share, of which data subscribers market share is 57%. Viettel is also the first operator providing 5G network testing business in Vietnam.

VIETTEL

7. VIETNAM NATIONAL COAL AND MINERAL INDUSTRIES HOLDING CORPORATION LIMITED

By the end of 2020, the revenue of Vietnam National Coal and Mineral Industries Holding Corporation Limited reached about 4.1 billion USD, down 8% compared to 2019.

The company informed that in 2020, its output of raw coal produced reached 38.5 million tons, equal to 100% of the plan. Coal consumption reached 42 million tons. It also produced 80,000 tons of explosives of all kinds, equal to 116% of the plan; and supplied 122,000 tons of explosives, equal to 108% of the plan.

VIETNAM NATIONAL COAL AND MINERAL INDUSTRIES HOLDING CORPORATION LIMITED

8. MOBILE WORLD INVESTMENT JOINT STOCK COMPANY

Mobile World recorded revenue of 3.8 billion USD in 2020, down 4% compared to 2019.

2020 is a particularly difficult year for most companies due to the global epidemic and continuous natural disasters occurring in Vietnam. To achieve the above results, in addition to cost optimization, improving gross profit margin has made a very important contribution to the growth of this company.

In the last 6 months of 2020, Mobile World focused on expanding its store network, continuously testing new models, strengthening purchasing team, investing in logistics systems and operating support platforms.

MOBILE WORLD INVESTMENT JOINT STOCK COMPANY

9. C.P. VIETNAM CORPORATION

African swine fever appeared in Vietnam from the beginning of 2019 and has spread to most provinces and cities across the country, which devastated the domestic pig industry, sharply reduced the supply, and increased the price of pork.

The market condition is very favorable for livestock businesses. That is why in 2020, CP Vietnam Corporation recorded a revenue growth of 24% compared to 2019 (reaching about 3.7 billion USD).

C.P. VIETNAM CORPORATION

10. NGHI SON REFINERY AND PETROCHEMICAL LIMITED LIABILITY COMPANY

Nghi Son Refinery and Petrochemical Limited Liability Company was established in April 2008, with shareholders including Vietnam Oil and Gas Group (PVN), Kuwait Oil Europe BV (KPE), Idemitsu Kosan Co., Ltd. (IKC) and Mitsui Chemicals Inc. (MCI) as a sponsor.

According to our data, in 2020 Nghi Son recorded a revenue of 3.2 billion USD, decreasing by 14% compared to 2019.

NGHI SON REFINERY AND PETROCHEMICAL LIMITED LIABILITY COMPANY

Source: VietnamCredit

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