PETROVIETNAM Tops Vietnam's Top 100 State-Owned Enterprises with Largest State Budget Contributions
According to statistical data from CafeF's 2026 STATE 100 ranking, the Vietnam National Industry - Energy Group (PETROVIETNAM) tops the list of state-owned enterprises (SOEs) making the largest state budget contributions in Vietnam, with the parent company's contribution alone reaching VND 90,991 billion. PETROVIETNAM is also the corporate group with the highest number of member entities featured in this ranking.
CafeF has recently released the 2026 STATE 100 list, honoring the 100 state-owned enterprises with the largest state budget remittances in Vietnam based on actual figures paid during the 2025 fiscal year. The STATE 100 is a newly added index introduced by CafeF into its VNTAX ranking system in 2026.
The introduction of the STATE 100 list comes against the backdrop of the Politburo's Resolution No. 79-NQ/TW on state economic development, which aims to enhance operational efficiency and maximize the leading, pioneering, and strategically orienting role of the state economy in key, essential, and strategic sectors, while guiding and supporting other economic sectors toward shared growth.
According to the 2026 STATE 100 data, the total actual state budget remittances of the nation's 100 largest contributing SOEs—after eliminating overlapping contributions between parent companies and subsidiaries—reached VND 425,800 billion, equivalent to approximately 16% of total national budget revenue.
Among the 100 ranked enterprises, 71 achieved actual remittances exceeding VND 1,000 billion, with 14 entities surpassing VND 10,000 billion. Even the enterprise ranking 100th contributed VND 468 billion.
Leading the ranking is the Parent Company - Vietnam National Industry - Energy Group (PETROVIETNAM) with VND 90,991 billion. With this figure, PETROVIETNAM contributed approximately 21.4% of the total VND 425,800 billion remitted to the state budget by all 100 SOEs.
Two other positions in the Top 10 are held by Petrovietnam Exploration Production Corporation (PVEP) and Binh Son Refining and Petrochemical Joint Stock Company (BSR)—both key member companies of PETROVIETNAM.
Ranking second overall is Viettel with over VND 42,290 billion. However, this figure remains substantially behind the leader, standing nearly 2.2 times lower than PETROVIETNAM's remittance.
When evaluated across parent-subsidiary corporate structures, PETROVIETNAM is also the group with the strongest representation in the STATE 100 with 11 enterprises. Its member entities operate across upstream exploration and production, refining and petrochemicals, gas, petroleum distribution, technical services, power generation, maritime transport, and chemicals: PVEP, BSR, PVOIL, PV GAS, PTSC, PV Power, PV Drilling, PVCFC, PVTrans, and PVFCCo.
In terms of contribution scale, the oil, gas, and petroleum product sector emerged as the largest contributing category, remitting approximately VND 124,350 billion, equivalent to 29% of total payments across the ranking. This sector also concentrates numerous top-tier enterprises, including PETROVIETNAM, Petrolimex, and enterprises operating across the petroleum supply chain, oil refining, and fuel distribution.
By number of enterprises in the Top 100, the lottery sector is the largest group with 22 enterprises, predominantly provincial lottery operators. The power sector follows with 9 enterprises, while oil & gas and transport - logistics each have 6 enterprises.
The sectors of petroleum - gas, coal - minerals, banking, chemicals, and technology - telecommunications - media each feature around 5 enterprises in the ranking.
The chemical segment includes 5 enterprises, among which are two leading fertilizer producers: Petrovietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) and Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo Phu My)—both member units of PETROVIETNAM.
Overall, the leading enterprises in the STATE 100 are heavily concentrated in capital-intensive sectors playing essential roles in the economy, such as oil and gas, power, coal and minerals, petroleum, and telecommunications. These industries are directly tied to national energy supply, foundational infrastructure, and critical inputs for manufacturing, circulation of goods, and socioeconomic life.
Therefore, alongside direct state budget payments, the operational scope of the groups and corporations in the STATE 100 is fundamentally connected to managing vital resources and systemic infrastructure that exert wide-reaching impact across multiple sectors of the Vietnamese economy.