Over VND5.5 quadrillion poured into Vietnam’s economy in 2020

Overcoming difficulties caused by COVID-19, Vietnamese enterprises have increased their production and business activities.

Latest updates by the General Statistics Office (GSO) show that the country has nearly 135,000 newly registered enterprises in 2020, with total registered capital of more than VND2.2 quadrillion and the total number of registered employees at over 1 million, down 2.3% in terms of the number of enterprises, up 29.2% in registered capital and down 16.9% in the number of employees compared with the previous year.

The average registered capital of a newly established enterprise in 2020 is VND16.6 billion dong, up 32.3% YOY.

In addition, there are 44,100 enterprises returning to operation, an increase of 11.9% compared to 2019, bringing the total number of newly established enterprises and enterprises returning to operation in 2020 to 179,000, up 0.8% YOY. On average, there are about 14,900 newly established and restarted enterprises each month.

A survey on business operation of enterprises in the manufacturing industry in the fourth quarter of 2020 showed an upbeat trend, as 40.6% rated their business performance in the last quarter of 2020 as better that the previous one, while 34.7% of them said that the business and production situation was stable.

Comparing the first quarter of 2021 to the fourth quarter of 2020, it is expected that 42.8% of enterprises will enjoy a better trend and 38.2% will have stable operation.