CafeF has just officially announced the PRIVATE 100 list for 2025, honoring the top private enterprises contributing to Vietnam’s state budget. To be ranked in the Top 10, enterprises must contribute at least VND 4,800 billion to the state budget.
Interestingly, the top three spots on the list are occupied by key players in Vietnam’s automotive industry, each contributing over VND 10,000 billion to the state coffers.
VinGroup, with its VinFast brand, leads the way as the top private contributor, boasting a remarkable VND 56,162.8 billion in state budget contributions. VinFast, a homegrown automotive brand, currently dominates the Vietnamese market and specializes in the production of electric cars and motorcycles. Their diverse range of products caters to various market segments. The VinFast complex, spanning 335 hectares in the Dinh Vu Industrial Zone in Cat Hai district, Hai Phong, comprises an administrative building, electric motorcycle and automobile manufacturing facilities, an auxiliary industrial park, a training center, and an R&D institute. Both the automobile and electric motorcycle factories are designed for a capacity of 38 vehicles per hour. In the first phase, each factory will produce 250,000 vehicles per year, ramping up to 500,000 in the second phase. The electric motorcycle factory even has the potential to reach a production capacity of 1 million vehicles annually. Highly automated, the complex boasts 1,200 robots, with a 98% automated body shop and a 90% automated engine shop.
VinFast is aggressively expanding its global footprint, focusing on promising markets such as North America, Europe, and Asia, particularly Southeast Asia, with the aspiration to become an international electric vehicle brand.
Thaco Chu Lai Industrial Park
Ranking second on the list is Truong Hai Auto Corporation, contributing VND 23,700 billion to the state budget. Established in 1997, Truong Hai Auto Corporation (THACO) has transformed from a vehicle trading and repair company in Bien Hoa, Dong Nai, into a diverse industrial group investing in Vietnam’s key economic sectors. THACO currently comprises six member groups: THACO AUTO, THACO INDUSTRIES, THACO AGRI, THADICO, THISO, and THILOGI, covering a wide range of industries.
THACO AUTO offers a comprehensive range of vehicles, including passenger cars, motorcycles, buses, trucks, and specialized vehicles from renowned international brands such as Kia, Mazda, Peugeot, BMW, and MINI, as well as its own THACO brand. With 453 showrooms and authorized service workshops, THACO AUTO also possesses a state-of-the-art automobile assembly complex in the Thaco Chu Lai Industrial Park, featuring seven factories with technology transferred from Japan, South Korea, and France.
Hyundai Thanh Cong Vietnam Automobile Factory in Ninh Binh
TC Group, founded in 1999, has evolved from its roots in the mechanical industry to become a prominent player in the automotive industry, diversifying into real estate and services. The group currently offers Hyundai, Skoda, and commercial vehicle brands, backed by three automobile factories in Ninh Binh and Quang Ninh.
In 2024, TC Group contributed VND 16,468 billion to the state budget, securing the third spot among private enterprises.
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