The list of top 500 companies in Vietnam in 2016 was announced at a ceremony in Hanoi on January 19.

The annual event, the 10th of its kind, was held by the Vietnam Report Company, to honour businesses for their excellent performance in the 2015 fiscal year.

The Vietnam Oil and Gas Group topped the list, followed by Samsung Electronics Vietnam Co., Ltd., Viettel Group, Electricity of Vietnam, and the Vietnam National Petroleum Group.

The largest private businesses comprise of Truong Hai Automobile Co., Ltd., Vietnam Dairy Products Joint Stock Company (Vinamilk), DOJI Gold & Gems Group, FPT Corporation, and Vingroup.

According to Vietnam Report, one of the key strategies that Vietnamese biggest companies are pursuing to increase competitiveness is embarking on core business fields.

They also move to improve labour productivity; keep and increase domestic market shares; and make inroads into the global market, the report said, adding that the equitisation of State-run businesses and the development private ones have also helped to boost economic recovery in recent years.

Big companies have also focused on providing transparent information, developing management strategies and expanding export markets to reach those in the region and beyond.

On the occasion, Vietnam Report announced Top 50 Vietnam The Best 2016 and Top 50 Most Profitable Large Enterprises 2016.

The company also released a bilingual White Book featuring the 10-year development path of Vietnamese big enterprises from removing bottlenecks to creating a healthy business environment.

VNA