Statistic on the number of businesses in the period 2010 – 2016 recently released by the GSO shows that there are both positives and negatives in Vietnam’s business.
As informed by the GSO, in 2017 the actual number of active businesses were 561,000 (excluding registered enterprises but not yet operating, enterprises which have ceased their operation).
However, according to Nguyen Binh Lam - General Director of the General Statistics Office, though the number of active companies in 2017 is available, such related information as sales, employees, profit and tax of these companies has not yet been furnished. As of 2016, the number of active companies (with full information) was 505,000.
Most of 505,000 active enterprises are those operating in service industry. The no-goods industry also enjoys the highest growth rate of active companies among industries.
As of 31 December 2016, the number of active businesses in service sector was 354,000 with annual growth rate of 11.5 percent. Despite this sector stays on top of number-of-active-businesses list, it does not attract as many labors as industry and construction sector does.
Industry and construction sector follows service sector in the list with 146,000 active businesses as of December 31, 2016. It is calculated that in the period 2010-2016, the number of businesses in this sector increased by 8 percent.
There are not many active businesses in agriculture, forestry and fishery sector. As of December 31, 2016, this sector had nearly 4.500 businesses with average increase of 8 percent/year in the period 2010-2016.
The GSO also informed that the period 2010-2016 witnessed a 3,4-percent-decrease in number of SOEs. By the end of 2016, there were 1.31 million people working for SOEs, accounting for 9.3 percent of the labor force.
In 2016, the total sales of SOEs were VND2.88 trillion with an average annual growth of 6 percent per year.