Việt Nam’s presence in the Global 2000, Forbes’ list of the world’s largest companies, has reached a new milestone. The country now boasts five representatives on this prestigious list. These companies include Vietcombank, Vietinbank, Hòa Phát, BIDV, and Techcombank. Notably, four out of five of these Vietnamese companies operate in the banking sector, with Hòa Phát being the only manufacturing enterprise.
Vietnamese Representatives on the Global Stage
Vietcombank, also known as the Joint Stock Commercial Bank for Foreign Trade of Vietnam, leads the way as the highest-ranked Vietnamese company on the list, occupying the 950th position. On the other hand, Techcombank, the Vietnam Technological and Commercial Joint-Stock Bank, sits at the bottom at 1,874th place. The combined market capitalization of these four Vietnamese banks in the Global 2000 amounts to a staggering $46.84 billion, with Vietcombank alone accounting for over 36% of this total.
Overcoming Challenges
Despite the challenges posed by the COVID-19 pandemic and the ongoing tension between Russia and Ukraine, the world’s leading companies have strived to boost their sales and profits in the past year. However, stock prices have faced significant declines due to inflation and market downturns, hampering overall economic recovery.
Berkshire Hathaway Takes the Top Spot
Berkshire Hathaway, the multinational conglomerate headed by billionaire Warren Buffett, has claimed the number one position for the first time since Forbes began publishing the Global 2000 list in 2003. It has displaced the Industrial and Commercial Bank of China from its nine-year reign at the top. Meanwhile, major global oil companies have swiftly rebounded, climbing up the ranks from their low positions in 2021, thanks to soaring oil prices. ExxonMobil, the American multinational oil and gas corporation, now sits at 15th place, up from 317th place last year. Similarly, Shell, the British-Dutch multinational oil and gas company, now occupies the 16th spot, compared to 324th in 2021. Both companies have witnessed a significant increase in profits after experiencing losses in the previous year.
Global Powerhouses
Compared to 2021, the minimum market capitalization of companies in the list has experienced a considerable drop from $8.26 billion to $7.6 billion. However, other indices have shown an increase compared to the same period.
The Global 2000 list by Forbes also highlights that the total revenue of listed companies amounts to $47.6 trillion, with profits reaching approximately $5 trillion, total assets valued at $233.7 trillion, and a collective market capitalization of $76.5 trillion.
A Global Representation
This year’s Global 2000 list includes representatives from 58 countries. The United States takes the lead with 590 companies, followed by China (including Hong Kong) with 351 companies and Japan with 196 companies.
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This article is based on information from VTV.
