Hoa Sen Group: Promoted to next level, reached the Top 10 Largest private enterprises in Vietnam in 2023

6 December, 2023 by

On November 17, Vietnam Report Joint Stock Company (Vietnam Report) in collaboration with VietnamNet announced the VNR500 Ranking – Top 500 largest enterprises in Vietnam in 2023. Accordingly, Hoa Sen Group has reached the Top 10 largest private enterprises in Vietnam in 2023, increasing 1 rank compared to 2022.

This is the 17th consecutive year that Hoa Sen Group has been in the Top 500 largest enterprises in Vietnam and Top 500 largest private enterprises in Vietnam since the first time the VNR500 Ranking announced in 2007. In 2023, Hoa Sen Group ranks 26th in the Ranking of Top 500 largest private enterprises in Vietnam (up 2 places compared to 2022) and ranks 10th in the Ranking of Top 500 largest private enterprises in Vietnam (up 1 level compared to 2022), marking the highest ranking ever achieved by the Group.

Specifically, the Top 10 Ranking of Top 500 Largest Private Enterprises in Vietnam in 2023 includes: Hoa Phat Group; Vingroup; Mobile World Investment Corporation; Vietnam Prosperity Joint Stock Commercial Bank; Doji Gold & Gems Group Joint Stock Company; Masan Group; Vietnam Dairy Products Joint Stock Company; Vietnam Technological and Commercial Joint Stock Bank; Thanh Cong Group Joint Stock Company; Hoa Sen Group.

After more than 22 years of establishment and development, Hoa Sen Group is currently the number 1 enterprise in the production and trading of galvanized steel sheets in Vietnam. Hoa Sen Group’s charter capital has increased more than 200 times from VND 30 billion to more than VND 6,159 billion; Number of employees from 22 employees to more than 7,500 employees; The number of branches has increased from the first 3 branches to now have nearly 500 branches – stores spread across 63 provinces and cities; Furthermore, it also has a production system of 10 large factories nationwide and a network of export channels to more than 87 countries and territories. The brands such as Hoa Sen Steel Sheet, Hoa Sen Steel Pipe, and Hoa Sen Plastic Pipe have become National Brands, loved and trusted by tens of millions of Vietnamese people.

Ranked in the list of Top 10 largest private enterprises in Vietnam in 2023, Hoa Sen Group has once again affirmed its position, reputation and commitment as a Vietnamese brand that always creates the best value for consumers and society, aiming to become a leading economic group in Vietnam and the region.

First announced in 2007, VNR500 ranking has entered the 17th year on the journey of finding, recognizing and honoring the worthy achievements of large-scale enterprises, maintaining effective and stable production and business activities, enterprises that have given shows resilience in the face of unexpected waves of fluctuations in the international context and the slowdown in economic growth.

VNR500 ranking is built on revenue criteria, according to the Fortune500 model, in consideration of independent research and evaluation results according to international standards of Vietnam Report. Other criteria such as total assets, total number of employees, growth rate, profit, corporate reputation in the media are also referenced to evaluate the current state of the overall strength of the enterprise.

Statistical results from the VNR500 ranking in 2023 show that total revenue of all three sectors of Industry – Construction, Services and Agriculture – Forestry – Fisheries will increase compared to 2022. Of which, Industry – Construction is still one of the driving forces for economic development.

Information about the list and detailed rankings are posted on the Website: www.vnr500.com.vn. The announcement ceremony of the Top 500 Largest Enterprises in Vietnam in 2023 is expected to take place in January 2024 in Ho Chi Minh City.

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