Vietnam Report yesterday announced the leading 500 enterprises in the country, with state-owned groups and corporations maintaining the top 10 positions since last year. Vietnam National Oil and Gas Group, Vietnam National Petroleum Corporation, Electricity of Vietnam, Vietnam Post and Telecommunications dominated the highest ranks in the enterprise world of Vietnam. This is a big feat considering about 20 percent of the biggest enterprises included in the list last year was removed from this year’s roster.

According to Vietnam Report, about half of the enterprises listed in the top 500 are state-owned enterprises. Foreign-invested and private firms only account for 23.8 and 31.2 percentages this year. However, it is important to note that private enterprises have performed a steady climb year after year, with percentages rising from 24, 30 and 31.2 percent from 2008, 2009 and 2010, respectively.

Vietnam Report also ranks enterprises according to independent criteria such as “Top enterprises have biggest benefit,” “Top enterprises have biggest total assets,” and “Top enterprises have biggest number of employees.”

This report by Joint Stock Company is its fourth Vietnam Report released since 2006. The Vietnam Top 500 Largest Enterprises by Revenue Ranking Board is similar to the Fortune 500 model and is based on results from research with the international standard of Vietnam Report Joint Stock Company. It has consultants from both local (Vietnam) and international groups, among them Professor John Quelch, the vice-president of Harvard Business School.