Brian Jeffrey
A recent report by Vietnam Report (VNR500) reveals the demographic trends among the CEOs of the 500 largest companies in Vietnam. Notably, CEOs born in the Years of the Horse, Tiger, Rat, and Dog make up the largest percentages, with 15.6%, 15.3%, 14.8%, and 14.5% respectively.
Specific data shows that 5.8% of these CEOs were born in 1972 (the Year of the Rat), and 5.3% were born in 1974 (the Year of the Tiger), 1976 (Dragon), and 1977 (Snake).
Many of the current top CEOs hail from the 1970s, a cohort that benefited from a more open and stable learning environment, enhanced by western influences, access to technology, and favorable international trade conditions. This generation has accumulated significant business experience and managerial skills.
Currently, CEOs under 40 represent 10.8% of business leaders in Vietnam, a figure that is dwarfed by the 41.1% of leaders aged 41-50 and 48.1% who are aged 51 and above. Nevertheless, the presence of younger CEOs is on the rise.
In general, executive success peaks around the age of 45 and above, as these individuals tend to possess the requisite knowledge, life experience, and essential business relationships that facilitate success.
The growth in younger CEOs indicates a shift towards a younger generation of leadership. Characteristically, these younger leaders demonstrate creativity and adaptability to contemporary business challenges, highlighting a trend toward diversification in Vietnam’s business leadership.
The 2024 VNR500 report indicates that 12.9% of major corporations are led by individuals born in the Year of the Snake. Notably, 2.3% were born in the Year of the Wood Snake.
Prominent Wood Snake CEOs as mentioned in the report include Han Ngoc Vu of VIBBank, Le Quoc Long from SeABank, Pham Van Tai of Truong Hai Corporation, Tran Tuc Ma at Traphaco, Pham Thi Thanh Huong from Bidiphar, and Pham Thi Xuan Huong from OPC.
In feng shui, the Year of the Wood Snake is considered auspicious for business expansion and positive transformations. This year is believed to be a time for strategic advancements and agile decision-making to thrive in a competitive market.
Despite global challenges in 2024, such as slow economic growth and ongoing geopolitical issues, Vietnam’s economy has shown resilience with solid recovery. The Ministry of Planning and Investment (MPI) projects a growth rate of 6.8-7% for the year.
Research from VNR500 indicates improvements in revenue, profits, and order volumes for many companies. Specifically, 7.7% reported significant increases in revenue, while 10.5% saw profit growth, surpassing last year’s 5% figure. Many businesses express optimism regarding the economic future in 2025 as Vietnam embarks on a new advancement phase.
The announcement ceremony for Vietnam’s Top 500 Largest Enterprises is set for January 8, 2025, in Hanoi, recognizing the leading companies in pharmaceuticals, healthcare, logistics, tourism, hospitality, and animal feed sectors.
On November 22, 2024, top-notch pharmaceutical and healthcare businesses were unveiled, featuring names like Hau Giang Pharmaceutical JSC, Traphaco JSC, and Imexpharm Pharmaceutical JSC, among others.
This year marked a slowdown in the pharmaceutical industry after strong growth in 2023, especially within the first two quarters of 2024. The revenue remained stable compared to last year, but the percentage of companies reporting profit declines rose by 16.4%, primarily due to fluctuating material costs and decreased consumer spending.
Before this, on October 9, 2024, the most recognized companies in the packaging sector were announced, including Tetra Park, Dong Hai Ben Tre JSC, and Viet Hung Packaging.
The Vietnamese packaging industry is rapidly expanding, with about 14,000 companies operating in this space, of which 65% focus on producing plastic packaging.
