The Top 500 Fastest Growing Enterprises in Vietnam (FAST500) ranking has entered its 15th year in the journey of identifying, recognizing, and honoring businesses with outstanding achievements in operational efficiency. The ranking is primarily based on the compound annual growth rate (CAGR) of revenue. Additionally, other factors such as total assets, equity, pre-tax profit, and corporate reputation in the media are also considered as supplementary criteria to determine the scale and position of businesses within their respective industries.
In the modern business world, speed is a key factor in determining success. For NEM, speed is not just an advantage but a core part of its DNA, enabling the company to break all limits. In Q1/2025, NEM continued to affirm its position by ranking 190th out of the Top 500 Fastest Growing Enterprises in Vietnam, showcasing its impressive expansion in the furniture industry.
Detailed information about the list and rankings of businesses is available on the website: www.fast500.vn.
The statistical results on the average compound annual growth rate (CAGR) of revenue for FAST500 enterprises during the 2020–2023 period show a slowdown compared to previous years, reaching only 22.0%, a decrease of 3.29% from the previous year. This reflects, to some extent, the overall decline in business performance amid a sluggish market environment. By economic sector, the private sector led with an average CAGR of 23.5%, though it saw a decrease of 3.1% from the previous year. Following was the foreign direct investment (FDI) sector, with an average CAGR of 17.5%, marking a decline of 4.5%. Lastly, the state-owned sector also recorded a CAGR of 17.5%, with a slight decrease of 0.2%. Although it had the lowest growth rate, this sector has maintained a stable average CAGR over the past three years.
Source: FAST500 Ranking Statistics from 2021 to Present – Vietnam Report
Compared to other businesses in the economy, the FAST500 business community has demonstrated remarkable resilience against the disruptions caused by the COVID-19 pandemic and macroeconomic factors since 2020. According to Vietnam Report’s ranking data, which includes updated financial figures for 2024, FAST500 enterprises—primarily concentrated in the first quadrant (Figure 2)—have not only maintained stable revenue growth during the 2020–2023 period but also continued to experience positive growth in 2024. In contrast, the remaining businesses exhibit a wider distribution, with many data points falling into the decline or slowed growth zones. This highlights the superior growth capabilities, adaptability, and sustainable development momentum of FAST500 enterprises, underpinned by solid financial foundations and well-structured business strategies. The distribution difference between FAST500 companies and the rest of the economy further reinforces the value of the FAST500 ranking as a key indicator of financial health and business growth potential. In 2025, as the economy undergoes a strong recovery, the FAST500 business community is expected to sustain stable growth momentum, reaffirming its role as a driving force for economic expansion and a trendsetter in shaping the country’s development in the new era.
