PV GAS named in Forbes’ top 50 best listed Vietnamese companies for the eighth consecutive year

Forbes Viet Nam Magazine has announced a list of 50 best-listed companies on the Vietnamese stock market in 2020. This was the eighth year Forbes to announce this list in Viet Nam and it also was the eighth consecutive year Petrovietnam Gas Joint Stock Corporation (PV GAS) recognised in the list.

Forbes Viet Nam selected the 50 best-listed companies in 2020 when Viet Nam and the world’s economy have severely affected by COVID-19 pandemic. The list marked the rise of groups of defensive stocks and those which have been less directly affected by the pandemic, such as pharmacy, construction, consumer good, materials, finance, and others.

According to Forbes Viet Nam, the companies in the 2020 list had a steady foundation with good trade results in last year and the potential of being resilient in growth in a context of Viet Nam’s economy which has faced the most challenges over last 10 years. 

Forbes Viet Nam’s the eighth list acknowledged new records. The companies’ total after-tax profits reached VNĐ138.7 trillion, an increase of 8.7 per cent compared to the companies named in the list in 2019. These profits were the highest against last years. The group of leading companies has had an impressive growth. 

The COVID-19 pandemic caused irregular signs of progress in the stock market in this year’s first four months. It was the first time in the last eight years the total market capitalization of the 50 listed companies has reduced compared to the 2019 list. According to Forbes Viet Nam’s statistic, the total market capitalization in May’s mid reached US$81.3 billion, reducing by 13.5 per cent against the 2019 list.

Petro Vietnam Gas Joint Stock Corporation (PV GAS) is one of several companies named in the list for the eighth consecutive year. Gas and Oil Industry also has Petro Vietnam Insurance Corporation (PVI) and Petro Vietnam Power Corporation named in the list.