Included in the list, the first of its kind, are some of the biggest companies in the market as well as small-and medium-sized businesses that have excellent operational results.

As of August 15, total market capitalization of these 50 companies had reached VND704 trillion (US$33.32 billion), accounting for 74% of total market capitalization of the HCM City Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX).

Total revenue of the 50 companies hit VND413 trillion (US$19.55 billion) last year, accounting for 43% of total revenues of all companies listed on the two stock exchanges.

The 50 companies featured on the list have achieved growth in both revenue and profits for three consecutive years, with promising prospects in the coming years.

The companies belong to three major industries: consumer goods, natural resources, and products and services related to petroleum.

Vinamilk tops the list for its positive business indexes, highly valued brand and positive growth prospects.

Next on the list are three subsidiaries of Petro Viet Nam, including PV Gas, Petro Viet Nam Fertilizer and Chemicals Corporation and Petro Viet Nam Drilling Mud Corporation, all of which have demonstrated excellent business results.

A number of small-and medium-sized companies ranked very high on the list because of their leading positions in earnings per share as well as return on capital. This was due to the increasing global prices of commodities such as rubber and sugarcane.

In ranking the companies, Forbes Viet Nam used the magazine's ranking methodology that takes into account the nature of listed companies in particular countries like Viet Nam.

Data used for evaluation was based on audited financial reports for three consecutive years, with the last financial year ending on December 31, 2012.