Vietnam expects 710,000 newly-established enterprises in next five years

Tuesday, 2021-09-28 12:40:26
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NDO/VNA – The Ministry of Planning and Investment (MPI) has coordinated with relevant ministries, sectors, agencies and localities to build a draft resolution on supporting and developing businesses in the 2021-2025 period, with a target of about 710,000 newly-established enterprises in the period.

Under the document, various support policies will be designed to assist businesses in recovering, expanding and improving their competitiveness. In 2025, Vietnam expects to have over 2.1 million companies.

In the period, about 10 start-ups are hoped to reach the value of over US$ 1 billion, while about 35-40% of total firms are expected to launch science-technology application and innovation activities, and 100 percent of companies are hoped to access digital transformation, with 100,000 firms getting support in the field.

To this end, the MPI will give eight groups of solutions, focusing on improving the investment and business environment, expanding domestic and foreign markets, strengthening the credit access for businesses, especially those hit by COVID-19.

Alongside, the ministry also proposed support to human resources development and the fostering of connectivity among enterprises so that they can join domestic and international value chains and gradually lead the chains in the next five years.