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Conflicting numbers of private enterprises

Tu Hoang
Friday,  Jul 14,2017,14:27 (GMT+7)
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Conflicting numbers of private enterprises

Tu Hoang

HANOI – The number of private enterprises in Vietnam remains a big question mark as there exists different data at different agencies.

The General Department of Taxation under the Finance Ministry said more than 596,700 companies had been active as of June 30, a 5.1% rise over late last year.

Meanwhile, a recent report of the General Statistics Office shows the nation had had around 442,500 operational enterprises by late 2015, an annual increase of 17.6% in the 2000-2015 period.

The Business Registration Management Agency under the Ministry of Planning and Investment said the number of companies registered last year was 110,100, up 16.2% over the previous year. According to the agency, Vietnam had 61,300 startups in the first half of this year, in addition to about 15,400 companies resuming operation.

A report of the Enterprise Development Agency under the Ministry of Planning and Investment indicates 97% of private enterprises are small and micro, and 1.6% medium. However, in terms manpower and capital, 97.7% and 94.8% of private businesses are small and medium, respectively.

A recent study of the Central Party Committee’s Economic Commission reveals 96% of nearly 536,000 companies in the private sector are active under the Enterprise Law.

The report says the private sector between 2000 and 2014 saw a marked decrease in manpower, from 28.3 to 18.4 employees, and a dramatic increase in capital, from VND3 billion to VND25 billion. Nonetheless, their average returns on investment and equity remained modest, at 1.2% and 4% respectively in 2014.

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