Vietnam had over half a million enterprises in 2017: survey

There were nearly 517,900 enterprises in Vietnam in 2017, up 51.6% from 2012, with 505,000 already in operation, generating revenues and paying taxes, according to a survey conducted by the General Statistics Office (GSO).

Net revenues of enterprises in 2016 rose by 71.6% from five years earlier.
Net revenues of enterprises in 2016 rose by 71.6% from five years earlier.

The survey results were announced on September 19 and show that the number of large businesses only accounts for a modest 1.9% of total enterprises while the rest are medium, small and ultra-small enterprises.

More than four in ten enterprises are based in the southeastern region, with Ho Chi Minh City housing the largest number.

According to the GSO, the state-owned enterprises account for just 0.5% but their capital makes up 28.4% of total capital. The average capital for an enterprise in 2016 was VND51.6 billion (US$2.2 million) up VND5.8 billion compared with 2011.

Net revenues of enterprises in 2016 reached over VND17,858 trillion (US$767.9 billion), up 71.6% from five years earlier.

Foreign-invested enterprises posted the strongest net revenue growth at 134.5% over the 2011-2016 period.

This sector also recorded the largest return on assets (ROA) at 6.9%, compared with 2.6% and 1.4% seen in state-owned enterprises and domestic private enterprises respectively.

The ROAs for industrial production, agriculture and services were 4.8%, 2.0% and 1.6% respectively.