Top Enterprises Contribute Over 40% of Vietnam's State Budget Revenue

The Socialist Republic of Viet Nam Government News reports that Vietnam's leading enterprises are making substantial contributions to the state budget. According to data from VNTAX 2026, the country's top 200 enterprises contributed over 40% of the state budget revenue in 2025, highlighting the significant role of large corporations in the national economy. The 100 largest private enterprises, listed under the PRIVATE 100 ranking, contributed VND390.7 trillion to the state budget in 2025. This represents a substantial increase of 60%, or VND146.3 trillion, compared to the previous ranking. Their combined contribution was equivalent to about 14.7% of Vietnam's total state budget revenue in 2025. This sharp increase in private-sector contributions was largely driven by the country's biggest private taxpayers. Combined payments by the top 10 companies in PRIVATE 100 surged from around VND148 trillion to VND268 trillion in one year, an increase of approximately 80%. Vingroup topped the PRIVATE 100 list, with its state budget contribution rising from VND56.2 trillion to nearly VND148.8 trillion. Other major private-sector taxpayers included Sunshine Group, NH Smart City under BRG Group, THACO, Hoa Phat Group, FPT Corporation, Techcombank, VPBank, and ACB. Meanwhile, the 100 State-owned enterprises (SOEs) included in the STATE 100 ranking contributed VND425.8 trillion after duplicate payments between parent companies and subsidiaries were eliminated. This amount was equivalent to about 16% of total state budget revenue. The contribution of PRIVATE 100 reached nearly 92% of that of STATE 100. SOEs remained the largest contributors overall, with the largest contributors concentrated in key sectors such as oil and gas, energy, petroleum, telecommunications, and banking. PetroVietnam ranked first in STATE 100, with approximately VND91 trillion in state budget payments, followed by Viettel with more than VND42.29 trillion. The changing contribution structure was also reflected in VNTAX 200, which covers enterprises across all ownership sectors. The ranking included 99 private enterprises, 73 state-owned enterprises, and 28 foreign-invested and joint-venture enterprises. State-owned enterprises remained the largest contributors within VNTAX 200, paying more than VND424 trillion, or about 43% of total payments by VNTAX 200 companies. Private enterprises ranked second, contributing more than VND390 trillion, or 39%. The figures reflect the increasingly significant role of large private enterprises in the national economy and their growing contribution to state budget revenue. Budget contributions, however, remained highly concentrated among the country's largest companies. The top 20 enterprises in VNTAX 200 accounted for nearly 62% of total payments made by the companies on the list. The number of enterprises contributing more than VND10 trillion to the state budget also rose significantly, reaching 26 in VNTAX 200, nine more than in the previous ranking.