The VLCA are an expanded version of the Vietnam Annual Report Awards, co-organised by the Ho Chi Minh City Stock Exchange (HoSE), the Hanoi Stock Exchange (HNX), and Vietnam Investment Review.
The awards are exclusively sponsored each year by Dragon Capital, along with technical support from professional partners such as the Association of Chartered Certified Accountants (ACCA), the Vietnam Institute of Directors (VIOD), the International Finance Corporation (IFC), and leading auditing firms including PwC, Deloitte, KPMG, and EY, as well as information support from the State Securities Commission and the two stock exchanges.
The year 2025 marks an important milestone as Vietnam’s stock market has been upgraded to emerging market status, opening opportunities to attract high-quality foreign investment flows and strengthening Vietnam’s position on the regional financial map. Along with this, the issuance of legal regulations in support of the market upgrade continues to improve, helping create a more transparent and professional investment environment aligned with international practices.
In this context, the VLCA 2025 continue to affirm their role as an independent evaluation mechanism that encourage listed companies to raise governance standards, increase transparency, and pursue sustainable development.
After nearly six months of evaluation and selection, covering more than 500 listed companies on both stock exchanges, the evaluation council selected 50 outstanding companies across three categories: annual report, corporate governance, and sustainability report.
The results of VLCA 2025 reaffirm the accuracy and objectivity of the evaluation process. This marks the 18th year that the awards have accompanied Vietnam’s stock market and the community of listed enterprises.
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| Vu Thi Thuy Nga, deputy general director in charge of the Hanoi Stock Exchange (centre), presented Best Annual Report Award 2025 for Top 10 Financial Group. Photo: Le Toan |
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| Nguyen Son, chairman of the Board of Directors of the Vietnam Securities Depository and Clearing Corporation, and Nguyen Thi Viet Ha, acting chairwoman of the Ho Chi Minh City Stock Exchange (centre), presented the Top 20 Best Annual Reports in the Non-Financial Group. Photo: Le Toan |
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| Deputy Minister of Finance Nguyen Duc Chi presented the Best Corporate Governance Award 2025 - Top 8 Large Cap. Photo: Le Toan |
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| Vu Thi Chan Phuong, chairman of the State Securities Commission (centre), presented the Best Corporate Governance Award 2025 - Top 10 Mid Cap. Photo: Le Toan |
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| Luong Hai Sinh, chairman of the Members’ Council of the Vietnam Stock Exchange (centre), presented the Best Corporate Governance Award 2025 - Top 4 Small Cap. Photo: Le Toan |
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| Deputy Minister of Finance Nguyen Duc Chi (centre) presented first prize for Sustainable Development Reporting to Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) in the Financial Group category and first prize to Ca Mau Petroleum Fertiliser JSC in the Non-Financial Group category. Photo: Le Toan |
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| Dominic Scriven OBE, chairman of Dragon Capital Vietnam Fund Management JSC, presented the award for Best Greenhouse Gas Emissions Disclosure award to Vietnam Dairy Products JSC (Vinamilk). Photo: Le Toan |
LIST OF AWARD-WINNING COMPANIES IN THE 2025 LISTED COMPANIES SELECTION
(Arranged in alphabetical order by stock code)
| BEST ANNUAL REPORT AWARD 2025 | |||
| Stock code | Name of company | Stock Exchange | |
| TOP 10 – FINANCIAL GROUP | |||
| 1 | ACB | Asia Commercial Bank | HSX |
| 2 | BID | Bank for Investment and Development of Vietnam | HSX |
| 3 | CTG | Vietnam Joint Stock Commercial Bank for Industry and Trade | HOSE |
| 4 | MBB | Military Commercial Joint Stock Bank | HSX |
| 5 | MSB | Vietnam Maritime Commercial Joint Stock Bank | HSX |
| 6 | PVI | PVI Holdings | HNX |
| 7 | SHB | Saigon – Hanoi Commercial Joint Stock Bank | HSX |
| 8 | SHS | Saigon – Hanoi Securities JSC | HNX |
| 9 | SSB | Southeast Asia Commercial Joint Stock Bank | HSX |
| 10 | VPB | Vietnam Prosperity Joint Stock Commercial Bank | HSX |
| TOP 20 NON-FINANCIAL GROUP | |||
| 1 | ACG | An Cuong Wood Working JSC | HSX |
| 2 | BCM | Becamex Industrial Development and Investment Corporation (Becamex IDC Corp) | HSX |
| 3 | BFC | Binh Dien Fertiliser JSC | HSX |
| 4 | BMP | Binh Minh Plastics JSC | HSX |
| 5 | CNG | CNG Vietnam JSC | HSX |
| 6 | EVE | Everpia JSC | HSX |
| 7 | GEG | Gia Lai Electricity JSC | HSX |
| 8 | IMP | Imexpharm Corporation | HOSE |
| 9 | KHP | Khanh Hoa Power JSC | HSX |
| 10 | NAF | Nafoods Group JSC | HSX |
| 11 | PAN | PAN Group JSC | HSX |
| 12 | PGS | Southern Gas Trading JSC | HNX |
| 13 | PGV | Power Generation JSC 3 | HSX |
| 14 | POW | Vietnam Oil and Gas Power Corporation | HSX |
| 15 | PVD | PetroVietnam Drilling & Well Services Joint Stock Corporation | HOSE |
| 16 | STB | Thanh Thanh Cong – Bien Hoa JSC | HSX |
| 17 | SMB | Sai Gon – Mien Trung Beer JSC. | HSX |
| 18 | STK | Century Synthetic Fiber Corporation | HSX |
| 19 | TCM | Thanh Cong Textile – Investment – Trading JSC | HSX |
| 20 | VCS | Vicostone JSC | HNX |
| OUTSTANDING PROGRESS AWARD | |||
| PDN | Dong Nai Port JSC | ||
BEST CORPORATE GOVERNANCE AWARD 2025
| TOP 8 LARGE CAP | |||
| 1 | DCM | Ca Mau Petrochemical Fertiliser JSC | HSX |
| 2 | FPT | FPT Corporation | HSX |
| 3 | HBD | Ho Chi Minh City Development Joint Stock Commercial Bank | HSX |
| 4 | MWG | Mobile World Investment Corporation | HSX |
| 5 | PDV | PetroVietnam Drilling & Well Services Joint Stock Corporation | HSX |
| 6 | SAB | Saigon Beer – Alcohol – Beverage Corporation | HSX |
| 7 | SSI | SSI Securities Corporation | HOSE |
| 8 | VNM | Vietnam Dairy Products JSC | HSX |
| TOP 10 MID CAP | |||
| 1 | BVH | Bao Viet Holdings | HSX |
| 2 | BSV | Bao Viet Securities JSC | HSX |
| 3 | CTD | Coteccons Construction JSC | HSX |
| 4 | DHG | Hau Giang Pharmaceutical JSC | HSX |
| 5 | IMP | Imexpharm Pharmaceutical JSC | HSX |
| 6 | PAN | The Pan Group | HOSE |
| 7 | PVT | PetroVietnam Transportation Corporation | HSX |
| 8 | SBT | Thanh Thanh Cong – Bien Hoa JSC | HSX |
| 9 | VDS | Viet Dragon Securities Corporation | HSX |
| 10 | VNR | Vietnam National Reinsurance Corporation | HNX |
| TOP 4 SMALL CAP | |||
| 1 | EVE | Everpia JSC | HSX |
| 2 | GSP | Gas Shipping JSC | HSX |
| 3 | LBM | Lam Dong Minerals and Building Join Stock Company | HOSE |
| 4 | NAF | Nafoods Group | HSX |
| OUTSTANDING PROGRESS AWARD | |||
| OCB | Orient Commercial Joint Stock Bank | HSX | |
| BEST GENERAL SHAREHOLDERS MEETING | |||
| PAN | The Pan Group | HSX | |
LIST OF COMPANIES WINING THE 2025 SUSTAINABLE DEVELOPMENT REPORTING AWARDS
| Stock code | Name of company | Stock exchange | Award | ||
| Finance Group | Non-financial Group | ||||
| HDB | Ho Chi Minh City Development Joint Stock Commercial Bank | HSX | First Prize | ||
| BVH | Bao Viet Holdings | HSX | Second Prize | ||
| VPB | Vietnam Prosperity Joint Stock Commercial Bank | HSX | Third Prize | ||
| DCM | Ca Mau Petrochemical Fertilizer JSC | HSX | First Prize | ||
| VNM | Vietnam Dairy Products JSC | HSX | Second Prize | ||
| GMD | Gemadept Corporation | HSX | Third Prize | ||
| VNM | Vietnam Dairy Products JSC | HOSE | Best Greenhouse Gas Emissions Disclosure | ||
| VDS | Viet Dragon Securities Corporation | HSX | Outstanding Progress Award | ||
| NLG | Nam Long Investment Corporation | HSX | Outstanding Progress Award | ||
