The top 10 private enterprises in the food and beverage industry contributed over 16.6 trillion VND to the state budget in 2024. Five of these companies contributed over 1 trillion VND (an increase of two companies from the previous year).

All companies on the list saw an increase in their budget contributions compared to the previous year.

With a contribution of 1.138 trillion VND, Asia Ingredients Group JSC (AIG) entered the "trillion club" this year, joining Masan Group Corporation (MSN), Vietnam Dairy Products JSC (Vinamilk, VNM), Sai Gon - Mien Trung Beer JSC (SMB), and Quang Ngai Sugar JSC (QNS).

Following closely behind the trillion-VND club are Ha Long Beer and Beverage JSC (HLB) and International Dairy Products JSC (LOF). 

LOF had a strong sales performance in 2024, with revenue reaching 7.658 trillion VND—a 15% or 1 trillion VND increase compared to 2023.

Other enterprises, such as PAN Group JSC (PAN), Kido Group Corporation (KDC), and Thanh Thanh Cong - Bien Hoa JSC (SBT), contributed between 400 billion and 650 billion VND.

In summary, the top 10 private enterprises leading the food and beverage sector in tax contributions include:

 + 3 general food and beverage companies: Masan, PAN Group, and Kido

 + 2 dairy companies: Vinamilk and LOF

 + 2 beer companies: Sai Gon - Mien Trung Beer and Ha Long Beer. Sai Gon - Mien - Central Beer represents a number of Sai Gon Beer producers in which Sabeco does not hold a controlling stake, such as Sai Gon - Ben Tre Beer and Sai Gon - Vinh Long Beer. These companies all have high budget contributions due to the nature of the beer industry.

 + 2 sugar companies: Quang Ngai Sugar (QNS) and TTC AgriS. However, QNS is also currently the largest enterprise in soymilk.

 + 1 food ingredients company: AIG.

The list of top food and beverage enterprises is part of the PRIVATE 100 and VNTAX 200 series, which honors companies with the largest contributions to the state budget based on actual contributions in the 2024 fiscal year. These lists were compiled by CafeF and began to be announced on August 4, 2025.

VNTAX 200 is a list of all enterprises with budget contributions of 200 billion VND or more (including state-owned, private, FDI, and joint venture enterprises). PRIVATE 100 is a list exclusively for private enterprises with contributions of 100 billion VND or more.

With hundreds of trillions of VND contributed by leading enterprises, this is the only budget contribution ranking that comprehensively reflects the level of corporate contributions across all economic sectors.

The PRIVATE 100 and VNTAX 200 lists for 2025—based on 2024 data—include general rankings and rankings by major industry groups such as Banking, Securities, Real Estate, Consumer Goods, and Retail. These lists will be announced sequentially throughout August 2025.

Leading consumer and retail companies Masan Group and Vietnam's largest dairy company, Vinamilk, are in the same bracket, contributing over 4.5 trillion VND.

Specifically, Masan Group contributed 4.803 trillion VND, an 8.6% increase from the previous year, while Vinamilk contributed 4.569 trillion VND, an 11.3% increase. Combined, the two "giants" contributed 16.628 trillion VND, accounting for 56% of the total budget contributions of the entire list.

Over the past three years, Masan Group has contributed more than 14 trillion VND (of which Masan Consumer contributed 6 trillion VND), and Vinamilk has contributed more than 13 trillion VND.

International Dairy Products (LOF), a company with strong business growth recently, has also contributed nearly 1.9 trillion VND over the past three years.

CafeF Lists 2025 marks a return with two prestigious rankings:
PRIVATE 100 – Top private enterprises with budget contributions of 100 billion VND or more
VNTAX 200 – Top enterprises with budget contributions of 200 billion VND or more

These lists are compiled by CafeF from public or verifiable sources, reflecting the total actual contributions of enterprises to the budget, including taxes, fees, and other payable amounts. The transparent collection of this data not only recognizes the financial contributions of enterprises but also spreads a spirit of social responsibility, affirming their position in the economy.

Some notable enterprises on the 2024 list, reflecting actual contributions for the 2023 fiscal year, include: Agribank; ACB; AIA; BIM Group; Coteccons; HDBank; LOF; Masan Group; MoMo; OCB; PNJ; Tasco; DOJI Group; Nam Long Group; TCBS; Techcombank; TPBank; Vingroup; VPBank; Vinamilk; VNG Group; and VPS.

Source: cafef.vn