Petrovietnam, Petrolimex, Vingroup named Vietnam's biggest firms in Fortune ranking
Petrovietnam, Petrolimex, Vingroup, BIDV bank, and Agribank are among the 50 biggest companies in Southeast Asia, according to the Fortune Southeast Asia 500 Ranking 2025.
The Fortune Southeast Asia 500, published by Fortune magazine on Tuesday, ranks 500 largest corporations in Southeast Asia by total revenue for their respective fiscal years.

An oil rig of Russian-invested Vietsovpetro, with Petrovietnam as a joint venture partner. Photo courtesy of Vietsovpetro.
Petrovietnam ranks 11th in Southeast Asia, fifth in the region's energy sector, and first among Vietnamese enterprises featured on the list. It marks the state-owned group’s first appearance in a Fortune ranking.
The energy group reaped $22,297 million in revenue for 2024, up 2.8% year-on-year. Profit was $1,159 million, down 4.9%. Its assets reached $42,381 million, while employees numbered 55,000, according to the magazine's release.
"The ranking reflects our efforts in management and response to a volatile world market and in taking advantage of the restructuring of global supply chains," Petrovietnam stated on its website following the news.
In 2024, Petrovietnam exceeded all key targets by 6-27%, setting several new records. The group also expanded its traditional operations, took the lead in the offshore energy industry, and for the first time participated in the global energy value chain, openning new development space, it noted.
By the end of 2024, Petrovietnam had fully met all financial targets set for the 2021-2025 period and exceeded projections by 6-32%, the group added.
State-controlled Petrolimex, Vietnam's biggest gasoline retailer, ranked 26th in Southeast Asia and second among the Vietnamese enterprises.
It achieved $115.3 million in profit in 2024, down 3.1% from 2023, on revenue of $11,337 million, down 1.4%.
Private conglomerate Vingroup ranked 37th in the Southeast Asia 500, up eight places compared to last year. It ranked third among the Vietnamese enterprises.
According to Fortune, in 2024, Vingroup reaped $7,548 million in revenue and $475 million in profit, up 11.4% and 450.5% respectively compared to 2023. The group's total assets was $32,827 million and its employees hit 67,342.
Vingroup is operating in property, electric vehicle manufacturing, technology, education, healthcare, infrastructure, and energy. The last two segments are its new business lines.
State-controlled BIDV bank ranked 43rd in the Southeast Asia 500 and fourth among the Vietnamese enterprises, followed by wholly state-owned Agribank, which was at the 45th and fifth positions, respectively.
Next were Vietinbank (55th in the Southeast Asia 500), Hoa Phat Group - Vietnam's largest steelmaker (62nd), Mobile World Investment (64th), Vietcombank (81st), Vietnam Airlines (86th), VPBank (87th), and MBBank (94th).
Seventy six Vietnamese companies appeared in the Southeast Asia 500 list, collectively recording more than $161 billion in revenue and employing over 1.1 million workers.
Companies are ranked by revenues for their latest available respective fiscal years ended on, or before, December 31, 2024, unless otherwise noted. All companies on the list must publish financial data and report part, or all, of their figures to a government agency.
Revenue and profit figures for companies reporting in their local currency have been converted to U.S. dollars at the average exchange rate during each company’s fiscal year (ended December 31, 2024, unless otherwise noted).
This is the second year Fortune Southeast Asia 500 has been published, underscoring the rapid rise of Southeast Asian enterprises as the region emerges as a global hub for manufacturing and investment amid shifting global value chains.
- Read More
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7
'Precious space' in Vietnam's monetary policy
The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.
Economy - Mon, September 15, 2025 | 10:15 am GMT+7
Vietnam’s central bank sells $1.5 bln to stabilize currency: broker MBS
The State Bank of Vietnam (SBV) intervened in the foreign exchange market by selling approximately $1.5 billion via 180-day cancelable forward contracts from August 25-26, in an effort to ease pressure on the Vietnamese dong, according to a recent report by MB Securities (MBS).
Banking - Mon, September 15, 2025 | 8:04 am GMT+7
Hanoi aims to break ground on $11.4 bln Red River Boulevard & Landscape project by Jan 2026
A consortium of “tunnel king” Deo Ca Group and real estate developer Van Phu Invest has been assigned by the Hanoi People’s Committe to prepare an investment proposal for the VND300 trillion ($11.37 billion) Red River Boulevard & Landscape project.
Real Estate - Mon, September 15, 2025 | 7:55 am GMT+7