According to Forbes, the companies account for 70.8 per cent of the market capitalisation on the two exchanges.

Vinamilk, which holds nearly half of the country’s milk market, topped in terms of profit at over VND10 trillion (US$435 million).

Petrolimex, which accounts for half the retail petrol market share, had the biggest turnover: VND153 trillion ($6.65 billion).

State-owned enterprises like Vietcombank and Bao Viet appear in the list while the private companies include VinGroup, Vietjet, Massan, Hoa Phat, VPBank, Kinh Do, and The Gioi Di Dong.

Forbes rated the enterprises based on metrics like growth of turnover and profit, ROE, ROC, EPS between 2013 and 2017, brands, quality of corporate governance, sustainable development expectations.

This is the sixth year that Forbes has honoured the top 50 listed companies.