Contributions from foreign-direct enterprises doubled from VND19 trillion in 2010 to VND38.9 trillion. This represented a 1 per cent rise to 24.92 per cent in the V1000 making list in 2011.

The V1000 revealed that 16.3 per cent of firms for the first time were entered on the list. Of those, state-owned and private enterprises occupied 42.9 per cent and 31.3 per cent of the slots, respectively. Foreign-invested enterprises (FIF) represented 25.8 per cent.

State firms continue to lead in tax contributions. The top 10 tax contributions were state-owned enterprises (SOEs), with their payments more than doubling from VND25.7 trillion ($1.24 billion) in 2010 to an estimated VND64.8 trillion ($3.13 billion) in 2011.

Meanwhile, contributions by private firms slid from 20.62 per cent in 2010 to 17.8 per cent in 2011, indicating the sector’s vulnerable nature during tough economic times.

The top 100 tax contributors in this year’s V100 contributed 72.4 per cent of tax paid by 1,000 firms on the rating list.

The top 10 enterprises were: Vietnam Posts and Telecommunications Group (VNPT), PetroVietnam Exploration and Production Corporation (PVEP), VietsovPetro Joint Venture Enterprise (VietsovPetro), Vietnam Oil and Gas Group (PetroVietnam), Military Telecommunication Group (Viettel), Vietnam Mobile Telecom Services Company (VMS), Vietnam National Coal-Mineral Industries Group (Vinacomin), PetroVietnam Gas Corporation (PV Gas), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank).

This is the second year that the V1000 ranking list has been compiled. It is to recognise and honour enterprises that have the biggest tax contribution for three consecutive years (2008-2010) for the state budget.

V1000 is based on independent data survey processed by Vietnam Report.

Information and data about enterprises were taken from top 500 Vietnamese enterprises VNR500, VNR Biz Database (Vietnam Report’s extensive database with over 250,000 enterprises), data sourcing from the country’s two major bourses HNX and HOSE, and from 3,000 company records sent to Vietnam Report for checking and verification.