Only 570,000 companies in Vietnam actually “operate”
PSNews-The General Statistics Office (GSO) in collaboration with the Steering Committee for Enterprise Innovation and Development, Vietnam Chamber of Commerce and Industry (VCCI) held a press conference to announce some key indicators reflecting the development of enterprises in provinces and Centrally-run cities.
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According to official statistics during the 2000-2015 period, as of 31 December 2015 the total number of enterprises actually operating nationwide was 442,485 with an average annual increase of 17.6%. Particularly, the period of 2000-2010 witnessed an increase of 21.8%.
Additionally, the contribution of businesses to the State budget reached VND 746,000 billion in 2015. During 2000 and 2015, the contribution of businesses rose 18.2% on average, lower than the total increases of businesses in capital, revenues and profits.
Various questions was raised over the fact that Vietnam’s GDP growth rate was modest compared to the increase in the number of new enterprises in Q1, 2017. Representatives of the GSO said that the newly established enterprises did hardly contribute to GDP. GPD of the first Quarter of 2017 resulted from business activities of the previous quarter.
Moreover, according to the GSO, 59% of enterprises established in 2016 have no revenue. At this point, only 570,000 enterprises are really operating and contributing to the economy.
However, officials also said that the information only serves as initial reference indicators that could be used to study the development of businesses rather than official indexes. Involved agencies will continue studying and completing a set of comprehensive and logical indicators that can more exactly reflect the development of enterprises in the coming time.
