Phenikaa, Vicostone among top 500 largest firms in 2023

This is the 5th and the 8th consecutive year, respectively, that Phenikaa Group and Vicostone have won these awards. — Photo courtesy of Phenikaa

HCM CITY — Phenikaa Group and its member Vicostone JSC have been listed among the top 500 largest enterprises (VNR500) in Việt Nam in 2023. 

The award-granting ceremony was co-organised on Thursday in HCM City by the online newspaper Vietnamnet and Vietnam Report JSC.

The recognition has proven the two companies’ strong foundation of systems, technology and personnel resources in addition to their proactive and flexible business strategies, and sufficient investments in research and development in 2023. This is the 5th and the 8th consecutive year, respectively, that Phenikaa Group and Vicostone have won these awards.

As a global business enterprise with more than 30 member units operating domestically and internationally such as in the US and Canada, Phenikaa Group has encountered challenges due to difficulties in the world and Vietnamese economies.

Thanks to its solid internal strength, proactive spirit, flexibility and continuous innovation, the group has maintained stable production and business activities in key areas. 

The group has made sufficient investments in scientific research, with five research institutes and centres and over 20 research groups at Phenikaa University and Phenikaa Innovation Foundation. 

At the same time, it has also been focusing on the healthcare sector to provide outstanding quality products and services in the biomedical field, contributing to improving the quality of people’s lives. In 2023, Phenikaa invested heavily in facilities and people, expanding cooperation with domestic and foreign partners, including large hospitals. 

In the field of education and training, Phenikaa has built a seamless education system from elementary school, middle school and high school to university and postgraduate education. 

After five years of comprehensive restructuring, Phenikaa University has made great changes in quality and quantity, recording impressive numbers in its development journey. In 2023, the number of university enrolments increased by about 25 times compared to 2018, while the number of undergraduate and postgraduate training programs rose three times compared to 2018. 

Phenikaa University has also affirmed its position in the international arena when it entered the THE Impact Rankings. It became one of nine Vietnamese universities with influence on sustainable development in 2023.

Launched in 2007, VNR500 is prestigious ranking honouring businesses that actively contribute to the development of Việt Nam’s economy. In 2023, the VNR500 ranking continued to recognise large-scale enterprises with effective and stable production and business activities, demonstrating resilience in the face of unpredictable fluctuations in the global situation and the slowdown in economic growth.

According to the award organising board, the business community last year faced persistent challenges both domestically and internationally.

A Vietnam Report’s survey showed that most businesses recorded a decrease in revenue, profit and number of orders, of which the proportion of businesses recording an increase in revenue and profit accounted for less than 5 per cent.

The gloomy real estate sector caused construction demand to stagnate and slow consumption of construction materials products both domestically and internationally, causing businesses in the industry to be severely affected, according to the survey. — VNS

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