Vietnam's SMEs post impressive growth

Vietnam Report Joint Stock Company (Vietnam Report) has announced the FAST 500 rankings in 2013, a list of 500 businesses achieving the fastest growth rates in Vietnam, of which top 10 small-and-medium-sized enterprises (SMEs) posted an impressive growth rate of 88.3 percent. The rankings showed that the average growth rate of 500 businesses in the 2009-2012 period stood at 44.7 percent, lower than that recorded in 2008-2011, state-run Radio Voice of Vietnam reported Tuesday, quoting data from the report. Top of the FAST 500 rankings was Intimex Nha Trang Import- Export Joint Stock Company, while Duong Hieu Mineral Exploration Joint Stock Company secured the first place among leading SMEs. Southern Ho Chi Minh City and capital Hanoi remained the most dynamic economic hubs with their businesses accounting for major proportions in the FAST 500 rankings, at 31 percent and 21 percent, respectively. Sectors achieving highest growth included seafood (65.1 percent) , construction and real estate (59.2 percent) and transport (58.6 percent). Most surveyed businesses stressed the need to stabilize macro- economy, simplify administrative procedures aiming to create a healthier business climate and adopt a preferential tax policy, according to the report.