Notably, property developer Vingroup is the first Vietnamese private group to be named in the Top 10 largest companies in 2018. This is the 12th consecutive year that VNR500 has been released to honour companies with the largest scale and business achievements in Vietnam. Vietnam Electricity claimed the number two spot, while Vietnam Oil and Gas Group, PetroVietnam, was ranked third. The military-run telecommunications group Viettel and the Vietnam National Petroleum Group, Petrolimex, rounded off the list of the top five largest companies. The top five companies remained unchanged compared to the list in 2017. Vingroup ousted Agribank in the list of 2017 to rank sixth on this year’s list, becoming the first Vietnamese private group to secure a spot in the top 10 largest companies. Vietnam Report also announced the list of the Top 500 largest private companies in Vietnam in 2018, of which, Vingroup seized the number one spot. Finance; food, beverages and cigarettes; construction, building materials, and real estate; steel; and telecommunication, informatics, and information technology are the five sectors posting the highest revenue of private companies, which account for 64.2% of the total revenue and 75.5% of the total net profit of private companies in 2018.