Coteccons Construction Joint Stock Company (HOSE: CTD) has been ranked 285th in the 2026 Fortune Southeast Asia 500 list, representing a notable 19-place climb from the previous year. Since making its debut at 376th place in 2024, the company has advanced 91 positions, reflecting its expanding scale and strengthening competitive capabilities.

A trajectory of sustainable growth

The Fortune Southeast Asia 500 is an annual ranking compiled by Fortune magazine in the United States, recognizing the 500 largest companies by revenue across seven Southeast Asian countries. Financial indicators are sourced transparently from publicly available data and independently verified by Refinitiv and S&P Global Market Intelligence.

In its latest report, Fortune described Vietnam as a clear new growth engine for the region. Vietnamese companies recorded average revenue growth of 10.5%, significantly outperforming the overall average across the ranking. While accounting for less than 10% of total Fortune Southeast Asia 500 revenue, Vietnamese businesses contributed roughly one-quarter of the list’s overall revenue growth.

At the same time, the region’s growth momentum is increasingly shifting from the traditional corporate giants at the top of the ranking to agile mid-ranked companies that are expanding rapidly, strengthening capabilities and moving up the global value chain.

Against this backdrop, Coteccons has emerged as a prominent example of a Vietnamese company steadily improving its standing on the Fortune Southeast Asia 500. In 2025, the company generated approximately US$980 million in revenue, recorded US$18 million in profit and employed nearly 3,000 people.

Over three consecutive ranking cycles, Coteccons has climbed from 376th place in 2024 to 304th in 2025 and now 285th in 2026. The consistent rise reflects not only growing operational scale but also a strengthening competitive advantage despite ongoing volatility in the construction sector.

These strategic adjustments in governance and business direction are increasingly reflected in both the scale and quality of the company’s growth.

For fiscal year 2026, Coteccons expects revenue to exceed VND30 trillion (US$1.15 billion), while net profit is projected to reach VND700 billion (US$27 million). Its backlog currently stands at VND65.5 trillion (US$2.5 billion), the highest level in its history and a strong foundation for future growth.

The company’s momentum is supported by both stronger internal capabilities and major market trends, particularly urbanization, industrialization and going global. Among these strategic pillars, “Going global” has been identified as a long-term priority aimed at bringing Vietnamese construction expertise and talent to global markets.

Alongside growth in scale, Coteccons continues to improve key quality indicators, including operational efficiency, cash-flow quality and risk management. Profit margins are expected to strengthen steadily, while days sales outstanding have fallen significantly, underscoring the company’s transition toward a more sustainable growth model.

Its execution capabilities are demonstrated through a series of technically complex and large-scale projects, including Gia Binh International Airport and the APEC Convention Center in Phu Quoc. These projects have further reinforced Coteccons’ reputation among both domestic clients and multinational foreign-invested corporations operating in Vietnam.

With this foundation, the company is moving into more complex, landmark and high-value project segments, creating additional opportunities for long-term growth.

Shifting from rapid growth to quality growth

Supported by a record backlog and expanding market opportunities, Coteccons is increasingly able to focus on transparent, high-value projects that align with its long-term strategy, risk management standards and execution strengths rather than pursuing growth at any cost.

Its inclusion in the Fortune Southeast Asia 500 for a third consecutive year reflects the results of that strategy and highlights the company’s readiness to capitalize on future opportunities within the construction industry.

"Coteccons is entering a strategic shift, moving from moving from ‘Growth’ to ‘Quality Growth’. This journey begins with disciplined governance, optimized operations and robust execution capabilities. It lays the foundation of our long-term sustainability, enabling us to deliver practical value to clients by specializing our capabilities in areas where Coteccons holds distinct competitive advantages. In doing so, we unlock new opportunities to collaborate with strategic partners while cementing investors’ confidence in the quality of our growth. Earning a spot on the Fortune Southeast Asia 500 is a powerful endorsement of our capabilities and brand equity. It is also a driving force behind our greater aspiration: to write Vietnam’s construction industry onto the regional and global construction map”, said Coteccons Chairman Bolat Duisenov.

Looking ahead, Coteccons plans to continue investing heavily in execution capabilities, technology and engineering talent as it advances through this next phase of quality growth, creating long-term value for clients, partners, shareholders and employees.

Coteccons is the Vietnam’s leading construction company, with more than two decades of experience delivering complex, iconic and large-scale projects. As an industry leader, the company defines its role not only through financial performance but also through raising industry standards and advancing environmental, social and governance (ESG) practices. Coteccons is committed to creating safer, more comfortable and more meaningful spaces while contributing to the sustainable development of communities and the broader economy.

PV