Pham Nhat Vuong's Vingroup revenue equals 2.6% of Vietnam's GDP; which giants have achieved a similar scale?

According to consolidated data, about 14 firms have revenue above 1% of Vietnam's GDP. Of these, 9 are state-owned, 4 private, and 1 international joint venture. In the 2025 annual report, Vingroup announced that its 2025 revenue would be approximately 2.6% of the national GDP. According to the 2025 socio-economic report, Vietnam's GDP at current prices in 2025 was about 12.85 quadrillion dong, equivalent to about 514 billion USD, up 38 billion USD from 2024 (476 billion USD). To equal 1% of GDP, a company would need minimum revenue of 128.476 trillion dong. According to consolidated data, around 14 firms have revenue above 1% GDP of Vietnam. Of these, 9 are state-owned, 4 private, and 1 international joint venture. Leading the list are PVN and EVN, still the largest revenue-generating state-owned enterprises in Vietnam. Although exact 2025 figures are not yet available, PVN reported a 2025 consolidated revenue of about 651,000 billion dong, roughly 5.1% of GDP. EVN’s consolidated revenue is estimated at 645,195 billion dong, also about 5% of GDP. EVN and PVN are the two state-owned economic groups playing a central role in Vietnam's energy sector. Both are 100% government-owned and contribute significantly to the budget, often collaborating on national energy projects. Notably, among the 1% GDP group in 2025, five oil and gas entities include: Petrolimex (310,000 billion dong), Nghi Son Oil Refinery - NSRP (188,000 billion dong), PV Oil (151,000 billion dong), Lọc hóa dầu Bình Sơn - BSR (142,000 billion dong), and PV GAS (135,000 billion dong). The oil and gas subset accounts for nearly half of this list. PV Oil, BSR, and PV GAS are all subsidiaries of PVN. NSRP is a joint venture in which PVN owns 25.1%; Kuwait Petroleum Company owns 35.1%; Idemitsu Kosan of Japan owns 35.1%; Mitsui Chemicals of Japan owns 4.7%. In the electricity sector, besides EVN, EVN SPC (South Power Company) recorded 2025 revenue of over 188,000 billion dong, about 1.5% of Vietnam GDP. Additionally, Vinacomin, whose main business is coal and minerals, in 2024 had revenue above 145,000 billion dong, about 1.3% of GDP. In 2025, the group’s consolidated revenue is projected to reach 161,040 billion dong, also around 1.3% of GDP. The last state-owned enterprise remaining on the list is Viettel, with revenue 220,400 billion dong, about 1.7% of GDP, illustrating the scale of the entity in the economy. However, the private sector story is the most striking part of the 2025 economic picture. Vingroup, with revenue 331,838 billion dong (2.6% of GDP), rose 75% versus the same period in 2024, marking it as the first private enterprise to stand on par with national energy conglomerates. Notably, within this ecosystem, Vinhomes also contributes significantly with 153,000 billion dong (1.2% of GDP). Alongside Vingroup in the private sector are MWG (Vietnam Mobile World Investment) with revenue 156,458 billion dong, up 16% YoY, and Hoa Phat Group with 156,116 billion dong, up 12% YoY. The results reflect the rebound in construction and public investment in 2025. In sum, 14 enterprises, whether state-owned or dynamic private groups, are collectively contributing to an economy with a GDP of about 514 billion USD. See also: detailed charts and related read more items are listed on the source site.