PetroVietnam continues to top list of most profitable enterprises in 2020
Hanoi (VNA) – The Vietnam Oil
and Gas Group (PetroVietnam) continued to top the Profit500 list, which names the 500 most profitable
enterprises in Vietnam, in 2020.
This is the third year that the group has
taken the leading position among the top 500 enterprises.
The list, announced by the Vietnam Report JSC and online newspaper Vietnamnet, also contains many
enterprises in the oil and gas sector, such as PV Gas (7th place), Vietsovpetro, PV Powers, PetroVietnam
Technical Services Corporation (PTSC), PetroVietnam Drilling & Well Service Corporation (PV
Drilling), Ca Mau Fertiliser Plant (PVCFC), to name just a few.
Vietnam
Report said this year the ROA (Return on Assets) of companies on the list
averaged 11.4 percent, slightly down from the 11.9 percent recorded last year.
However, the ROE (Return on Equity) ratio improved to 21.7 percent from 20.9
percent in 2019.
It also took note
of changes in top priority strategies of enterprises from now to the end of
year, with 71.7 percent of them paying attention to sales, 58.3 percent focusing
on seeking new markets and expanding existing ones, 49.2 percent looking to
researching and developing new products and 42.6 percent planning to cut costs./.