PetroVietnam leads the list of 500 best profitable businesses in Vietnam

2022 is the 4th year in a row that Vietnam Oil and Gas Group (Petrovietnam) holds the number one position in the PROFIT500 ranking.
PetroVietnam leads the list of 500 best profitable businesses in Vietnam
Mr. Tran Quang Dung, Head of Communication and Corporate Culture Department of PetroVietnam, representing the group to receive the title of "The most profitable business in Vietnam" in 2022 (Source: PVN).

Recently, Vietnam Report Joint Stock Company (Vietnam Report) cooperated with VietnamNet Newspaper to search and honor effective and profitable businessess in the top 500 ranking of "Vietnam's best profitable businessess".

Along with PetroVietnam, many businesses of the group and the oil and gas industry also have high positions in this year's ranking such as PV GAS (16), BSR (22), PVFCCo (44), Vietsovpetro (53), PV Power (71), PVCFC (75), PVI (117), PVTrans (126), PVOIL (144), PTSC (151), PVI (161), PETROSETCO (253), PV GAS D (301), PTSC M&C (358), PSD (406), PVI Re (418), Nhat Viet Trans (479).

According to published data, the Vietnamese business community in general and PROFIT500 businesses in particular have been showing bravery on the way to economic recovery after the pandemic.

Contrary to concerns about the slowing of the world economy, the latest statistics show that Vietnam's economy is on the way to recovery, many indicators have exceeded pre-pandemic levels, thanks to the steady growth of exports of processed and manufactured industrial products to traditional export markets.

Representative of Petrovietnam and units at the honoring ceremony (Photo: PVN).
Representative of Petrovietnam and units at the honoring ceremony. (Photo: PVN).

The representative of PetroVietnam emphasized that these results once again confirm the performance of Petrovietnam in recent years, with its healthy financial position and flexible management capacity, being evaluated and recognized objectively by many prestigious organizations at home and abroad.

In the first 9 months of 2022, PetroVietnam has exceeded production and business targets, finishing ahead of 4 important financial targets, including contributing to the State budget and at the same time contributing to the supply of energy and petroleum in the context of market tension.

The results achieved in the first 9 months of 2022 have contributed to enhancing the brand value of PetroVietnam. Before that, in 2020, 2021, PVN has been valued more than twice by Brand Finance (the world's leading brand valuation company) compared to 2019. By 2022, Petrovietnam's brand value has reached 1, 3 billion USD, nearly half as increase again as 2021, maintaining its position in the 10 most valuable brands in Vietnam. In addition, Petrovietnam's "Brand Strength" index reached 70.8 and maintained its brand strength rating at AA.

Most recently, Petrovietnam is also in the Top 20 of the V1000 list - List of 1000 largest corporate income tax payers in 2021 - announced by the General Department of Taxation - Ministry of Finance.

Petrovietnam said that the achievements have affirmed the brand strength of Petrovietnam, Vietnam's key economic and energy group, contributing to ensuring national energy security, food security, and economic security and participating in protecting national sovereignty at sea.

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