On June 18, 2025, Coteccons (Ticker: CTD) has once again been named among the Fortune Southeast Asia 500, the prestigious annual ranking by global business magazine Fortune that highlights the 500 largest companies in the region. This marks the second consecutive year Coteccons has made the list, reaffirming its leading position in Vietnam’s construction sector with FY2024 revenue reaching VND 21.045 trillion, post-tax profit of VND 310 billion, and a project backlog of VND 37 trillion as of Q3 FY2025.
As Southeast Asia’s construction industry increasingly demands higher standards in safety management, sustainability, and execution capabilities of large-scale projects, Coteccons continues to assert its pioneering role through a people-centric development strategy, a safety-first mindset, and a clear ambition to become an Industry Leader.
Launched in 2024, the Fortune Southeast Asia 500 ranking is published annually and based on companies’ fiscal-year revenue.
Coteccons Climbs 72 Places, Becomes Vietnam’s Top-Ranked Construction Company in Fortune Southeast Asia 500
Fortune’s Southeast Asia 500 ranks the largest companies across seven countries: Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia. According to Fortune, these 500 companies represent a dynamic region contributing approximately 7.2% to global GDP and recording impressive growth (source: World Economics).
The 2025 list, released June 17, shows the combined revenue of the 500 companies at USD 1.82 trillion—up 1.7% from USD 1.79 trillion last year. The minimum revenue required to make the list dropped by 14% to USD 349.4 million. The top 10 companies accounted for USD 660 billion (36% of total), while the top 20 represented nearly half the list’s total revenue at USD 836 billion.
Vietnam is represented by 76 companies this year, with Coteccons ranked as the highest among construction firms. In 2024, Coteccons reported USD 857.5 million in revenue and nearly USD 12.5 million in net profit, supported by a workforce of around 2,500 employees.
Coteccons rose 72 places in this year’s ranking, moving from No. 376 in 2024 to No. 304 in 2025. This remarkable leap reflects the company’s transformation following a major restructuring four years ago and showcases its resilience in navigating a challenging market.
Coteccons posted a 30.8% year-on-year revenue increase in FY2024, achieving 105% of its annual target. In the first nine months of FY2025, consolidated revenue reached VND 16.647 trillion, up 15.2% YoY. Gross profit stood at VND 559 billion (up 14% YoY) and net profit hit VND 255 billion (up 5.8% YoY).
Notably, Coteccons’ stock (CTD) has recently been included in the VNDiamond Index on the Ho Chi Minh Stock Exchange (HOSE).
These achievements were largely driven by a string of major contract wins, including:
Cat Ba Central Bay Resort & Commercial Complex; Hon Thom Marine Tourism & Entertainment Complex (Western Village); The Global City and Masteri Lakeside; Key infrastructure and public investment projects such as Vietnam National University – HCMC Development Project, and Package 3 of the Long Thanh International Airport Phase 1 (airport parking facility), and more.
As of Q3 FY2025, Coteccons’ total assets stood at VND 26.182 trillion. Its FY2024 P/E (Price-to-Earnings) ratio reached 19.58—among the highest in the sector despite significant headwinds affecting the construction industry.
“Sustainability is Core to Coteccons’ Existence and Future”
Construction is a resource-intensive industry, responsible for approximately 40% of global energy consumption and over 30% of greenhouse gas emissions, while employing a massive labor force. As such, construction companies have a profound responsibility to integrate sustainability into every stage of their operations.
Mr. Bolat Duisenov, Chairman of Coteccons, emphasized:
“Sustainability is not just a priority—it is the lifeblood and future of Coteccons. Being named in the Fortune Southeast Asia 500 for two consecutive years is the outcome of a steadfast journey doing good things led by one team with one vision across the Coteccons ecosystem. But no companies can elevate an industry alone. Our ambition is to be a catalyst—connecting and amplifying efforts with partners, subcontractors, engineers, and workers to build a more ethical, efficient, and sustainable construction ecosystem.”
It also strictly adheres to the 3R principles—Reduce, Reuse, Recycle—to minimize environmental impact and actively seeks out suppliers and partners that provide green materials and energy solutions.
The company has completed 46 LEED/LOTUS-certified projects—out of Vietnam’s total 305 certified green buildings—and maintains a network of 57 green-certified suppliers, promoting eco-friendly materials and solutions across its projects.
Commenting on this year’s list, Clay Chandler, Fortune’s Asia Executive Editor, said:
“Fortune’s interest in the region reflects Southeast Asia’s growing importance as an engine of global growth. The region has become a crucial manufacturing and export hub, which is drawing significant capital flows. This momentum has been further fueled by Trump-era tariffs, which have reshaped global trade dynamics and driven a shift towards Southeast Asia.”
This shift has led to a surge in FDI projects into the region, including Vietnam. Coteccons, a key contractor for FDI projects and a champion of transparent and sustainable practices – having executed major projects for clients such as Pandora and LEGO, is well positioned to be a trusted contractor in Vietnam for global investors.
