Updated: 6/12/2021 | 4:31:27 PM

In collaboration with VietnamNet Newspaper, Vietnam Report Joint Stock Company has announced the VNR500 Ranking - Top 500 largest private enterprises in Vietnam in 2021. On this list, Hoa Binh Minh Group has risen to No. 22.

VNR500 – Ranking of 500 largest enterprises/largest private enterprises in Vietnam according to Fortune 500 model (USA) is based on independent research and evaluation results in compliance with international standards of Vietnam Report. Total revenue is used as the basis for evaluation, as well as other factors such as profit, total assets, total number of employees, growth rate, and media reputation. Social duties are also considered while evaluating the enterprise's current condition, size, and location.

Hoa Binh Minh Group ranked 22nd in the Top 500 largest private enterprises in Vietnam

In terms of indicators of business performance evaluation of all enterprises in this year's VNR500 Ranking, the average return on assets (ROA) and the average return on sales (ROS) of enterprises dropped compared to the VNR500 Ranking in 2020, according to Vietnam Report's report. Specifically, the average ROA of VNR500 enterprises this year reached 5.31%, down 0.42% from the VNR500 Ranking in 2020. The average ROS index decreased to 6.15% from 6.58% last year. However, the average return on equity (ROE) increased slightly from 16.24% to 16.42%.


The Covid-19 pandemic has had a significant impact on many facets of socio-economic life throughout its two-year outbreak. The shattered supply chain has caused a slew of problems for production and commercial operations. Many companies lose money and go bankrupt. The economy as a whole, as well as enterprises in particular, have all sustained significant losses. The Hoa Binh Minh Group was not immune to the devastating effects of Covid-19, which forced it to shutter Southern companies and close more than 50 dealerships/stores/branches. The Group’s profits were badly harmed.

Hoa Binh Minh ranked 1st in distributing Hoa Phat steel

However, in the spirit of "sit still but not stay silent," the Board of Directors of Hoa Binh Group Minh quickly adjusted each plan flexibly, proactively seizing opportunities to accelerate recovery and continued growth in the "new normal," in addition to looking for solutions to ensure the maintenance of business activities in parallel with pandemic prevention. Hoa Binh Minh is still the No. 1 corporation in Vietnam for the distribution of Hoa Phat steel; Top 5 in terms of output and distribution of ceramic tiles; and always at the top of the list for retail sales and income in selling the automobiles and motorcycles of well-known brands.  

Automobile – motorcycle branches/dealerships in 41 provinces/cities across the country

Along with its economic operations, the Hoa Binh Minh Group places a strong emphasis on social responsibility. In 2021, the Group donated 15 billion VND to the Government's Vaccine Fund, helped build a Covid-19 treatment area for police officers and soldiers in Ninh Thuan Province, and volunteered for needy children in highland provinces.

Hoa Binh Minh contributed to the Government’s Fund for Covid-19 Vaccine

Hoa Binh Minh has nearly 18,000 billion VND in revenue, nearly 4,300 employees, and 158 branches/dealerships in 41 provinces/cities. According to the most recent release of Vietnam Report, Hoa Binh Minh Group will remain on the VNR500 Ranking in 2021 as Vietnam's 22nd largest private enterprise and Vietnam's 60th largest enterprise. The Group has been recognized in the VNR500 Ranking for 14 years in a row.

Hoa Binh Minh Group will continue to follow the plan to restructure the business and implement the IPO of a number of products on the stock exchange between 2021 and 2025. Along with that, the goal is to retain Vietnam's leadership in steel, ceramic tiles, and automobile - motorcycle distribution.

Source of business ranking data: http://https://www.vnr500.com.vn/Charts/Index?chartId=2