The Vietnam Report Joint Stock Company has announced the list of Vietnam's 500 largest enterprises (VNR 500) in 2011 with PetroVietnam at the top.

Among the short-listed companies, the top 50 enterprises met the Forbes business magazine criteria for the world's 2,000 largest enterprises by revenue.

The VNR 500 was compiled based on the statistics on company revenues, which were recorded by December 31, 2010.

The results showed that state-owned enterprises (SOEs), mainly groups and corporations, dominated the VNR500 2011, holding a 41.6% share. Private firms accounted for 37.4% and foreign-invested firms, 21% of the list.

SOEs also held a majority of companies in the list of Vietnam’s top 10 biggest enterprises.

Key industries such as mineral exploitation and petroleum dominated the list with 15%, banking and finance 9.8%, food and beverages 8.2%, electricity 6.8%, and telecommunications 6%.

Ho Chi Minh City ranked first among localities nationwide with enterprises accounting for 25.8% of the list, followed by Hanoi with 21.8%.

The VNR500 2011 also listed the top 30 enterprises according to minimum turnover of USD1 billion. Their averaged revenue reached USD3.2 billion, up 18.5% from the 2010.

Top 10 Vietnam’s biggest enterprises in 2011:- Vietnam National Oil and Gas Group (PetroVietnam)

- Vietnam National Petroleum Corporation (Petrolimex)

- Vietnam Posts and Communications Group (VNPT)

- Saigon Jewellery Limited Company (SJC)

- The Electricity of Vietnam Group (EVN)

- Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro)

- Military-run Telecom Group (Viettel)

- Vietnam National Coal-Mineral Industries Group (Vinacomin)

- PetroVietnam Oil Corporation (PV Oil)

- Vietnam Bank for Agriculture and Rural Development (Agribank)