Samsung is the fastest-growing company in Vietnam.

According to the 2015 ranking of the Top 500 Fastest Growing Businesses in Vietnam (FAST500), recently announced today (March 10th) by Vietnam Report, Samsung Electronic Vietnam is the company with the strongest growth rate in the past year.

10 fastest-growing companies

It is known that the ranking of businesses in the FAST500 is mainly based on the compound annual growth rate of revenue during the period from 2010 to 2013, taking into account the actual and projected revenue growth in 2014 and 2015. In addition, criteria such as total assets, total workforce, after-tax profit, and corporate reputation in the media are also used as supplementary factors to assess the size and position of the business.

Statistics from this year's FAST500 show that most businesses saw an increase in orders, revenue, equipment utilization efficiency, after-tax profit, and cash flow in 2014 compared to the previous year, with 82.2%, 79.5%, 78.9%, 78.7%, and 77.6% respectively choosing the "increase" option. These are positive signs indicating a shift towards a brighter business outlook.

Leading the way in operational indicators, the increase in orders is largely due to the effective implementation of the company's market expansion plans over the past four years. More than half of the businesses selected "expanding existing markets" (52.6%) and "growth of domestic and regional markets" (51.3%) as the two most important factors contributing to their growth during the 2011-2014 period, especially in the context of current global economic integration.

Regarding their business plans for 2015, 75.7% of businesses indicated they would expand their operations to increase revenue and market presence, 19.2% maintained their 2014 plans, while only 5.1% chose to "reduce business scale" due to lingering concerns about growth opportunities in 2015.

The company's main growth strategy over the past four years (2011-2014) and its direction for the next four years (2015-2018)

Regarding the period from 2015 to 2018, businesses stated they would persistently pursue growth targets, but also acknowledged facing increasingly fierce competition. The top three growth strategies that businesses have focused on and will continue to focus on over the next four years include increasing productivity, improving the quality of their management team, and developing new product/service lines.

Regarding the challenges ahead, 60.3% of businesses believe that the rise of competitors in the same industry is the most worrying factor for growth. Therefore, the need for transparent information is extremely important now, because only with accurate information can strategists develop a feasible medium- and long-term growth plan that is consistent with the company's capabilities and general market trends, while minimizing forecasting errors.

Regarding business expectations, 78.2% of businesses believe that "maintaining low interest rates" should be the priority solution for the next four years, creating more favorable conditions for businesses to access loans, thereby enabling them to rationally and promptly manage financial resources for growth when implementing plans to expand markets, increase revenue, and profits.

This is also an issue currently receiving special attention from the State Bank of Vietnam. In addition, the government can also support businesses through reducing corporate income tax (76.9% chose this option), providing more support for infrastructure investment (60.3%), or offering more support for training and human resource development activities (46.2%).

According to KTDT