Top VN firms stress social duties
Wednesday, March 15,2017AsemconnectVietnam - While they remain focused on fattening their bottom lines, most leading businesses in the country also see exercising their social responsibility as a contributive factor.
This is a key finding in the report that lists the top 500 firms in the country.
In its latest BP500 (Business Prosperity) listing, the Vietnam Report JSC points out that the top 500 firms are most responsive on five key social issues: business transparency (89.5 per cent showing interest); local community aid (84.2 per cent); decreasing unemployment (63.2 per cent); environmental protection (57.9 per cent); and career orientation for youth (42.1 per cent).
A large number of businesses agree that the act of giving back to society would help highlight their products and brand images and help profit accumulation. This is the main drive behind their CSR strategies, as also the protection of workers’ benefits and compliance with legal procedures.
At present, the main CSR strategies employed by the leading businesses include charity, environment protection programmes, social responsibility investment and training for ethnic minority employees.
The majority of the top 500 firms also agree that profitable growth is the major factor in making business decisions.
According to 85.7 per cent of businesses on the list, increasing profit is their key objective for the next 2 years, followed by product and service quality improvement (76.2 per cent), human resource development (52.4 per cent) and business model development (42.9 per cent).
The report said the listing represented Vietnamese entrepreneurial environment, outstanding business records, growth opportunities and social contributions.
The companies were ranked based on multiple factors including infrastructure growth, social influence, total asset value, profitability, returns on investment, workforce quality, average wages and CSR activities.
The BP500’s top ten are: the Vietnam Military Telecommunications Group (Viettel); Samsung Electronics Vietnam Co. Ltd; the Vietnam Oil and Gas Group (PetroVietnam); the Honda Vietnam Company; Truong Hai Auto Corporation; the Vietnam Diary Products JSC.; Mobifone Corporation; Hoa Phat Group; FPT Corporation and Nutifood Nutrition Food JSC.
The average annual income for these ten companies was VND114 trillion (US$5.1 billion), with post tax income averaging VND13.86 trillion ($622.5 million); and they had an average workforce of 17,819 workers.
Viettel was ranked third in Vietnam Report’s 2016 BP500 list, whereas PetroVietnam dropped two ranks and Samsung Electronics remained in second place.
The BP500 is an independent listing done by Vietnam Report based on “scientific and objective principles” and on the businesses’ own data.
Vietnam Report’s first BP500 list was announced in 2007, ranking all Vietnamese businesses irrespective of ownership.
Source: Bizhub.vn
Eximbank (EIB) target VND5,000 billion profit, up 34% in 2023
Business activities of banks in March 2023
VIB General Meeting of Shareholders: Approved the plan to pay 35% dividend, profit VND12,200 billion
In 2023, Refrigeration Electrical Engineering (REE) plans to increase profit slightly by 0.3% to VND 2,700 billion
PVOIL (OIL): Outstanding output growth in 2022
Sudico AGM (SJS): Growth target in 2023 from 10-15% of revenue
In 2023, Hoang Huy Investment Services (HHS) expects profit up and dividend of 8%
2023 Nam A Bank (NAB) Annual General Meeting of Shareholders: List shares and expand overseas branches
Mobile World (MWG) plans to increase its profit slightly to VND4,200 billion in 2023
Masan (MSN) continues to attract foreign capital up to VND15,000 billion
Century Synthetic Fiber Coporation (STK) successfully approached USD52.5 million in syndicated loans
Hoa Sen AGM for the year 2022-2023 (HSG): HSG will be profitable in March, April and May 2023
Fitch Ratings first international credit rating with GAS at “BB”
PVCoating (PVB) executes a pipe wrapping contract for Vietsovpetro
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...