The Ho Chi Minh City-based contractor first entered the ranking at 376th in 2024, rose to 304th in 2025, and advanced to 285th this year, reflecting continued business growth and improved competitiveness.
Compiled annually by Fortune magazine, the Fortune Southeast Asia 500 ranks the region’s largest companies by revenue across seven Southeast Asian economies. Financial data is sourced from publicly available information and independently verified by Refinitiv and S&P Global Market Intelligence.
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Coteccons’ current backlog has reached approximately VND65.5 trillion (US$2.49 billion). Photo courtesy of Coteccons |
In this year’s report, Fortune described Vietnam as one of Southeast Asia’s emerging growth engines. Vietnamese companies posted average revenue growth of 10.5%, outperforming the overall average for the ranking. While accounting for less than 10% of total revenue among the 500 companies, they contributed roughly one-quarter of the list’s overall revenue growth.
The publication also noted that much of the region’s expansion is being driven by mid-ranked companies that continue to strengthen their capabilities and move up the value chain.
Against this backdrop, Coteccons reported revenue of approximately US$980 million and profit of US$18 million in 2025, while employing nearly 3,000 people.
According to the company, recent gains reflect a series of strategic and governance reforms that have strengthened both its business scale and operating performance.
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Coteccons is shifting its focus from expansion driven primarily by scale to long-term quality growth. Photo courtesy of Coteccons |
For fiscal year 2026, the builder expects revenue to exceed VND30 trillion ($1.14 billion), with net profit projected to surpass VND700 billion. Its backlog has reached approximately VND65.5 trillion, the highest level in recent years, providing visibility for future growth.
Management attributes this momentum to stronger internal capabilities and three long-term growth drivers: urbanization, industrialization, and international expansion. Overseas markets, in particular, are expected to play an increasingly important role in extending Vietnamese construction expertise beyond domestic borders.
Alongside revenue growth, the company has focused on improving operational efficiency, cash-flow quality, and risk management. It expects profit margins to continue improving, while days sales outstanding (DSO) have declined significantly, reflecting tighter financial controls.
Its project portfolio includes a number of large-scale and technically complex developments, including Gia Binh International Airport and the APEC Convention Center in Phu Quoc. These projects have helped strengthen its standing among both domestic and multinational developers.
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Workers at a construction site. Photo courtesy of Coteccons |
With a record backlog and expanding market opportunities, the company said it is prioritizing transparent, high-value projects that align with its long-term strategy rather than pursuing rapid expansion alone.
The contractor views its third consecutive appearance in the Fortune Southeast Asia 500 as recognition of its transformation and readiness for the next phase of development.
According to Bolat Duisenov, Chairman of Coteccons, the company is entering a strategic shift, moving from “Growth” to “Quality Growth.” This journey begins with disciplined governance, optimized operations, and robust execution capabilities. It lays the foundation for their long-term sustainability, enabling them to deliver practical value to clients by specializing their capabilities in areas where Coteccons holds distinct competitive advantages.
“In doing so, we unlock new opportunities to collaborate with strategic partners while cementing investors’ confidence in the quality of our growth. Earning a spot on the Fortune Southeast Asia 500 is a powerful endorsement of our capabilities and brand equity. It is also a driving force behind our greater aspiration: to write Vietnam’s construction industry onto the regional and global construction map,” Chairman Coteccons said.
The company plans to continue investing in engineering talent, technology, and execution capabilities to support sustainable growth and long-term value creation.
Founded more than 20 years ago, the contractor is a Vietnam’s leading construction company, specializing in large-scale and technically demanding projects. Its long-term strategy focuses on raising industry standards through innovation, engineering excellence, and ESG practices while contributing to sustainable economic and community development.
Source:e.vnexpress.net
