The rankings are primarily based on the compound annual growth rate (CAGR) in terms of revenue, total assets, equity, pre-tax profit, reputation.

Ngan Tin Group, FPT Long Chau, South Asia Informatics Technology JSC, Stellapharm Joint Venture Company Limited, and Taseco Group JSC are among the companies featured in the FAST500 rankings.

Vietnam Report General Director Vu Dang Vinh said that as Vietnam’s economy is on a strong recovery trajectory, the FAST500 business community is expected to maintain stable development momentum, affirming their role in driving economic growth and shaping development trends when the country enters a new era.

On this occasion, Vietnam Report conducted a survey among companies to present an overall picture of Vietnamese businesses, the most important factors contributing to their growth over the past year, and their operation directions in the time ahead.

In 2025, Vietnam's economy is viewed positively by international organisations, with GDP growth forecast to range from 6.5% to 8% due to favourable production, trade, and FDI inflows. Meanwhile, the Vietnamese government aims for growth above 8% and expects to achieve double-digit growth in the upcoming period, focusing on a reasonably expansive fiscal policy, promoting public investment, and keeping inflation below 4.5%.

Through the survey, Vietnam Report also noted optimistic sentiment in 2025, as most companies expect Vietnam to achieve impressive economic growth.

Some 23.6% of them said it is feasible for Vietnam to achieve an economic growth of 7-7.5%, while 21.4% hoped for a growth rate of 7.5-8%, and only 19.3% expected a growth rate of 6.5-7%. Notably, about 17.1% forecast GDP growth to exceed 8%.

Moreover, 86.1% of companies believe in their positive growth prospects in 2025, leading many businesses to be ready to shift from a state of stability to expanding scale.

Vinh also noted that despite the positive outlook, Vietnam still faces risks from global economic instability as well as increasing competitive pressure. Therefore, businesses need to have flexible strategies to take advantage of opportunities from supply chain shifts and domestic consumption to maintain sustainable growth in 2025.

Top 500 fastest growing enterprises 2024 announced

A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 25.