The Vietnamese edition of Forbes Magazine will honor 50 best Vietnamese listed companies during an awards ceremony in Ho Chi Minh City this Friday, the monthly magazine announced Monday.

Forbes Vietnam's "50 Best Vietnamese Listed Companies" rankings acknowledge firms with the best business and financial performances listed on the local stock exchanges, including large, medium-sized and small companies, the magazine said on its website.

A company must have growth and profitability within three consecutive years to be counted in the list.

“[The companies] are evaluated on their compounded growth in revenue, profit, return on capital and earnings per share,” Forbes Vietnam said, adding the selected businesses are those that are “creating jobs for workers, bringing benefits for shareholders and investors, and contributing to the development of the economy.”

An awards ceremony and gala dinner will be organized at the InterContinental Asiana Saigon on Friday to laud the success of the selected companies.

The 50 companies in the list have a collective market capitalization of more than VND741 trillion (US$34.88 billion), accounting for 65 percent of the total market capitalization of the entire stock market as of the closing session on April 25, Forbes Vietnam said in the “50 Best Vietnamese Listed Companies” report.

The average revenue growth of these companies over the last year has been seven percent, far higher than the two percent of the stock market, according to the report.

While the selected companies have proven their competitiveness in Vietnam, they are still lagging behind when it comes to the global market, the report states.

FPT, a local information technology group, is the only representative in the Technology category of the list, while businesses operating in the fields of consumer products, oil and gas, and industrial manufacturing dominate the rankings.

Well-known names in the list include Vingroup, Masan Group, Hoang Anh Gia Lai Group, Vinamilk, Vinasun, and Vietcombank.

Forbes Vietnam was launched in Ho Chi Minh City on June 24, 2013 and has a circulation of 25,000 copies, according to its media kit.

The magazine is published monthly in Vietnamese, aimed at providing business news and insights to Vietnam’s business leaders, entrepreneurs, and corporate executives.

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