Vietnam sees record number of new firms in 2016

Monday, December 26, 2016 - 17:15:45

(VOVworld) – The number of new or re-organized firms reached a record high of 140,800 this year, of which more than 110,000 were newly-established, according to the Business Registration Management Agency of the Ministry of Planning and Investment.

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Newly-registered enterprises (

Registered capital for these new enterprises totaled nearly 39 billion USD, a sharp increase from last year. This is the first time Vietnam has had more than 100,000 newly-established enterprises in a year. Several areas of business saw increases in the number of new enterprises, including real estate, which was up 83.9%, health and social assistance activities, and education and training. Meanwhile, some areas saw fewer new enterprises:  arts and entertainment, agriculture, forestry and fisheries. Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc said the recent growth of Vietnamese enterprises reflects encouraging orientations and guidelines on the part of the Government.
 “The Government has adopted a very effective action plan to support the development of enterprises. Thanks to this action plan, trust in the investment climate has greatly improved, boosting economic growth. This year has seen a record number of new firms. The global rankings of Vietnam’s business environment and competitiveness index went up according to the reports of both the World Bank and the World Economic Forum”, Mr Loc said. 


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